The phrase "allowance approach" is correct and usable in written English.
It can be used in contexts related to finance, budgeting, or methodologies that involve setting aside a certain amount for specific purposes.
Example: "The allowance approach to budgeting helps individuals manage their expenses by allocating a fixed amount for discretionary spending each month."
Alternatives: "budgeting method" or "allocation strategy".
The import allowance requirement approach has its own problems, however.
Despite these three problems with the import-allowance-requirement approach, note that it was a key part of the Lieberman-Warner Climate Security Act in the U.S. Senate in 2008, and may re-appear when serious debate commences in the Senate on climate legislation later this year.
Such an approach makes no allowance for human judgment or discretion, for a consideration of the unique circumstances that surround every incident that ultimately becomes another impersonal piece of data.
Their approach excluded any allowance for compiling baseline population data: the over-riding priority was for immediate removal.
This approach makes no allowance for migration and may result in exposure error, leading to reduced study power and biased risk estimates.
Such an approach makes no allowance for individuals who have migrated into (or out of) the population or for daily or periodic spells away from the current residence where different levels of exposure may be experienced.
Also, it should be noted that this approach of import-allowance-requirements is included as a long-term backstop in Waxman-Markey if the president determines by 2022 that the output-based allocation mechanism is insufficient for some of the energy-intensive trade-sensitive sectors (and if a number of stringent conditions are met; see the "International Reserve Allowance Program" in the bill).
The most common benefit selected for this approach is the family allowance.
One alternative approach is an import allowance requirement, whereby imports of highly carbon-intensive goods (in terms of their manufacture) must hold allowances for the U.S. cap-and-trade system, mirroring requirements on U.S. sources, if those imports come from countries which have not taken comparable climate policy actions.
There are, however, some legitimate concerns about this approach of linking annual allowance allocations with production levels, as I wrote in my previous post, "The Wonderful Politics of Cap-and-Trade: A Closer Look at Waxman-Markey".
