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But too many allowances were issued over the past few years - and the market price collapsed.
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Allowances are issued and companies are free to sell them to one another.
Another advantage of PCAs is that, if the right number of allowances is issued, there will be at least as many winners as losers.
While allowances are issued by the government, offsets are created by green entrepreneurs who proactively plant trees or invest in equipment to suck the methane out of dairy barns or restructure rice paddies so they don't get waterlogged.
What was notable about this program was the trading of emissions allowances, which would be issued, recorded and monitored by the EPA.
Twitter has decided to take the allowable claims, which resulted in an allowance of the application being issued by the USPTO.
Europe's energy and industrial plants are being issued tradable annual allowances for emissions.
Known as America's Climate Security Act of 2007 S.21911), the bill would create a system in which businesses that create or deal with carbon emissions would be issued or sold allowances.
It allowed some 872m ERUs to be issued by ex-Soviet Union and Warsaw Pact countries, accounting for around a third of UN-accredited emissions allowances.
Health cards are issued by the Australian government to eligible persons on pensions and allowances such as unemployed persons and aged pensioners.
By 1945, the Family Allowance Act of Canada defined an "Eskimo" person as "one to whom an identification disk has been issued".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com