Sentences with phrase «initial emissions caps»

Due to varying factors, initial emissions caps in the European Union, the U.S. Northeast and California all ended up comfortably above actual emissions, so businesses have not had to pay high prices or face significant incentives to curb their emissions.

Not exact matches

Moreover, if the cap - and - trade system is bringing in revenue, that means by definition that there has to be a significant initial auctioning off of the emissions permits.

Obama proudly states that his EPA regulations can actually produce a greater emissions reduction than would his initial nearly - worthless proposal of a cap - and - trade «scheme».

Yet RGGI hasn't induced a robust enough carbon price to drive down emissions, primarily because the initial emissions «cap» was set 45 % higher than actual emissions by the covered power plants and wasn't tightened enough to actually «bind» until four years later.

Sen. John McCain, the presidential nominee last year, is one of the original architects of a Congressional cap - and - trade bill, though he forcefully opposes the Obama administration's plan to auction off emissions allowances to polluters (Mr. McCain would prefer to give the initial allowances away free).

A new Climate Change Authority, headed by former reserve bank governor Bernie Fraser, will advise the government on the future emissions caps within the emissions trading scheme, national emissions trajectories, and many other aspects of the scheme including the role of price floor and ceiling after the initial three years.

Leakage is a big issue for RGGI — initial carbon - cap runs showed that leakage could offset 60 - 90 % of RGGI's emission reductions, as power plants in nearby states increase their output to sell into the higher - priced RGGI power markets.