Domestic Emissions Trading
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World Bank, Washington, DC
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This document provides an overview and
summary assessment of lessons and insights learned from
various existing and presented domestic cap and trade
schemes. For each scheme, a set of general characteristics
(or issues) is considered. The characteristics (or issues)
covered include the following: (i) coverage and scope; (ii)
setting a cap; (iii) setting the points of obligation; (iv)
allocation of allowances; (v) systems for domestic
monitoring, reporting and verification, (MRV) and
compliance; (vi) enabling trading and fostering stability;
(vii) institutional arrangements, including technical and
legal infrastructures; and (viii) use of offsets and
linking. The domestic emissions trading schemes (ETS)
included in this assessment are the following: (i) European
Union (EU) ETS; (ii) New Zealand (NZ) ETS; (iii) United
States (U.S.) northeast states regional greenhouse gas
initiative (RGGI); (iv) California (Cal) ETS; (v) Australia
clean energy future carbon pricing mechanism (Aus CPM); and
(vi) Tokyo cap and trade program (C and T).
Palabras clave
ABATEMENT COSTS, AFFORESTATION, AIR, AIR RESOURCES, ALLOCATION, ALLOCATION OF ALLOWANCES, ALLOWANCE, ALLOWANCE ALLOCATIONS, AMMONIA, ANNUAL CAP, ANNUAL EMISSIONS, APPROACH, ATMOSPHERE, ATMOSPHERIC CONCENTRATIONS, AUCTION, AVAILABILITY, BALANCE, BASE-YEAR EMISSIONS, CAPS, CARBON, CARBON CREDITS, CARBON MARKET, CARBON OFFSET, CARBON PRICE, CARBON TRADING, CARBON UNITS, CEMENT, CEMENT PLANT, CEMENT PLANTS, CLEAN ENERGY, CLEAN ENERGY TECHNOLOGIES, CLIMATE, CLIMATE CHANGE, CLIMATE CHANGE MITIGATION, CO2, COAL, COAL MINES, COMBUSTION ACTIVITIES, COST OF ENERGY, CRUDE OIL, DISTRIBUTION OF COSTS, DISTRICT HEATING, DOMESTIC EMISSIONS, ECONOMIC ACTIVITY, ELECTRIC UTILITIES, ELECTRICITY, ELECTRICITY GENERATING, EMISSION, EMISSION LEVEL, EMISSION REDUCTIONS, EMISSION TRADING, EMISSIONS, EMISSIONS FACTORS, EMISSIONS FROM AGRICULTURE, EMISSIONS FROM AVIATION, EMISSIONS FROM DEFORESTATION, EMISSIONS FROM ENERGY, EMISSIONS FROM FUEL, EMISSIONS FROM FUEL COMBUSTION, EMISSIONS FROM INDUSTRY, EMISSIONS INTENSITY, EMISSIONS LEVELS, EMISSIONS REDUCTION, EMISSIONS REDUCTIONS, ENERGY CONSUMPTION, ENERGY EFFICIENCY, ENERGY PRICES, ENERGY-SAVING MEASURES, ENVIRONMENTAL INTEGRITY, FEASIBILITY, FINANCIAL LOSS, FINANCIAL MARKETS, FOREST, FOREST LANDS, FOREST PROJECTS, FORESTRY, FORESTRY ACTIVITIES, FORESTS, FOSSIL, FOSSIL FUEL, FOSSIL FUEL POWER, FOSSIL FUELS, FREE ALLOCATION, FUELS, FUGITIVE EMISSIONS, GAS EMISSION, GAS PROJECTS, GENERATION, GEOTHERMAL POWER, GHG, GHGS, GREENHOUSE, GREENHOUSE GAS, GREENHOUSE GASES, HISTORICAL EMISSIONS, HYDROPOWER, INSURANCE, INTERNATIONAL CREDITS, INVESTMENT DECISIONS, IRON, LAND-USE CHANGE, LANDFILLS, LEVEL OF EMISSIONS, MAJOR EMITTER, MARGINAL ABATEMENT, MARKET DISTORTIONS, MEMBER STATES, METHANE, MINIMUM PRICE, N2O, NATIONAL EMISSIONS, NATURAL GAS, NATURAL GAS INFRASTRUCTURE, NATURAL GAS SYSTEMS, NITROUS OXIDE, NUCLEAR ENERGY, NUCLEAR POWER, OFFSET CREDITS, OFFSET PROJECTS, OIL EQUIVALENT, OIL REFINERIES, ORGANIC CHEMICALS, OZONE, OZONE DEPLETING SUBSTANCES, PENALTIES, PETROLEUM, PETROLEUM PRODUCTS, PFCS, POLICY MAKERS, POWER PLANT, PRICE OF ALLOWANCES, PRICE SIGNAL, PRICE VOLATILITY, REGIONAL GREENHOUSE GAS INITIATIVE, RENEWABLE ENERGIES, RENEWABLE ENERGY, SECONDARY MARKETS, SF6, SINK, SOLAR POWER, THERMAL INPUT, TOTAL EMISSIONS, TRADING PROGRAMS, USE OF OFFSETS, VALUE OF ALLOWANCES, WASTE, WIND, WIND POWER, WINDFALL PROFITS, ZERO EMISSIONS