Exact(28)
A properly designed global cap and trade scheme is one option.
Define a global cap on emissions, and sell permits up to that cap in a worldwide auction.
The meeting will also decide whether to impose a global cap on SOx emissions from 2020 or 2025.
The IMO has also agreed to a global cap on sulfur content in fuel oil, to take effect in 2020.
Carbon offsets could play a role, he believes, so long as controls are strict and the overall global cap sufficiently tight.
The Paris agreement, in effect, brings together independent country-level commitments to reduce emissions, rather than imposing any type of global cap.
Similar(32)
Should there be a global cap-and-trade system?
Agreement on a truly global cap-and-trade system, however, is hard to imagine.
He criticizes the idea of a carbon tax, saying that such a levy would impose unfair burdens on the poor, and also deplores the idea of a global cap-and-trade system.
Discussions on curbing climate change tend to focus on comprehensive, emissions-focused measures: a global cap-and-trade scheme aimed at controlling carbon, or a tax on all carbon emissions.
The people running the world's big endowments don't like to make big macro bets about things such as the likelihood of a global cap-and-trade system being introduced, with the possibility of fossil fuel firms falling in value.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com