Sentences with phrase «allowance auctions»
"Allowance auctions" refer to the process of selling permits or licenses that allow individuals or companies to release a certain amount of pollution into the environment. These auctions are held by governments in an effort to control and reduce pollution levels, while also generating revenue. Participants bid on and purchase these allowances, which in turn give them the right to emit a specific amount of pollution. Full definition
A price floor easily could be enforced by introducing a minimum price in allowance auctions.
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States can auction allowances and give the revenues to efficiency providers: Instead of handing over allowances to efficiency providers, states could instead pay the providers directly using revenues generated from allowance auctions.
Kerry uses the boost to raise the number of allowance auctions, simplify the allocation process, reduce the number of offsets, and implement tighter restrictions on carbon trading and offsets.
The New York investments from the RGGI allowance auction revenues are expected to only reduce emissions 89,531 tons at an average investment rate of $ 81.5 million.
In the case of the China, seven pilot CO2 cap - and - trade regimes at the local level are under development, while in the United States, California's ambitious AB - 32 cap - and - trade system continues to make progress, and in the northeast, the Regional Greenhouse Gas Initiative (RGGI) is witnessing higher allowance auction prices due to the more severe targets the RGGI states recently adopted.
A November 2011 study shows the first three years of the initiative resulted in lower consumer electric bills, increased installation of energy efficiency measures, and more than $ 900 million generated from allowance auctions.
Covered entities and other participants must register with CARB to participate in allowance auctions.
DEC set up the regulatory requirements for the affected sources and NYSERDA handles the money from the allowance auctions.
What might be characterized as a populist approach would be a cap - and - trade system with 100 % of the allowances auctioned and the auction revenue returned directly «to the people.»