Encyclopedia of Sustainability Science and Technology

Living Edition
| Editors: Robert A. Meyers

Policy Instruments for Mitigating Carbon Dioxide Emissions

  • Adam Rose
  • Brandt Stevens
Living reference work entry
DOI: https://doi.org/10.1007/978-1-4939-2493-6_953-1

Glossary

Benefit-cost analysis

The systematic appraisal of all benefits and all costs of a specific course of action.

Cap and trade

The policy instrument of assigning a limited number of property rights to the environment (typically in the form of emission allowances) and then letting recipients of those rights to trade them in the marketplace to achieve the least-cost mitigation of a given pollutant.

Carbon tax

Imposing a fee per unit of carbon (or other greenhouse gas measured in carbon equivalents) in order to create a disincentive for pollution emissions.

Economic efficiency

Obtaining the maximum outcome from the use of limited resources, as in the maximum economic output given a fixed amount of inputs by a producer and the maximum utility from a given combination of goods and services by a consumer.

Economic policy instruments

The institutional means of implementing environmental goals.

Emission allowance auction

Selling emission allowances to the highest bidder, as opposed to...

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Copyright information

© Springer Science+Business Media LLC 2017

Authors and Affiliations

  1. 1.Price School of Public Policy, and Faculty Fellow, Schwarzenegger Institute for State and Global Policy, University of Southern CaliforniaLos AngelesUSA
  2. 2.Brandt Stevens, President, BK Stevens ConsultingSacramentoUSA