473 Policy Proposal.docx - Policy Proposal Federally...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Policy Proposal Federally Implemented Cap and Trade System ENCS 473 March 11th, 2018 Chido Mutize Daniel Huculiak Graydon Garner Guan yu Chen Ziwei Hu Executive Summary
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
With such a resource rich planet it is pivotal that we are able to maintain its richness and health for generations to come. As the population of the Earth continues to grow at exponential levels, there are an alarming amount of increasing indications that our planet’s climate is changing. These indications include; rising global greenhouse gas (GHG) emissions, changes to the natural biological systems, fluctuating global temperatures, the deterioration of the ozone layer and the melting of polar ice caps (Solomon, 2007). These are only a few indications that we are currently on an anthropogenic linked path that cannot continue to be justified or ignored (Solomon, 2007). With these levels of pressure, global governing bodies have placed a great deal of attention to mitigating the potential sources contributing to these indicators. Throughout history, governing bodies have implemented and started policies to protect the planet’s richness that is essential to the inner workings of society and its vulnerability to the effects of climate change (Helm, 2005). Through our policy proposal, we propose a policy, that if implemented, will embody the best approach forward to mitigate these effects and to meet their GHG emission goals. Outlined within our proposal is what we believe under an idealistic approach would not only help Canada to reach their goals but help mitigate a major source of atmospheric GHG, carbon emissions ( Meinshausen et al., 2009 ). The policy approach we have deemed as the best approach to meet this criterion is a federally implemented cap and trade system on carbon emissions. As indicated and outlined within our policy proposal, we propose a federally implemented cap and trade system on carbon emissions as the best way forward for Canada. Carbon emission control has long been a challenge for global governing bodies (He et al., 2012). Carbon emission trading offers an effective tool to limit carbon emissions, while allowing a firm to buy or sell the right to emit carbon based off a trading market of carbon emissions (He et al., 1
Image of page 2
2012). The government in power sets the cap across industry sectors of the economy aligning the amount of desired carbon emissions, with penalties if targets are not achieved by a firm (Zhang & Xu, 2013). The trade aspect of this system allows for the creation of a carbon market that allows firms to acquire and sell permits to pollute (Zhang & Xu, 2013). This also allows for incentivizing firms to save money by taking actions to reduce their emissions (Zhang & Xu, 2013). By using the basis of a cap and trade, we propose our own system that would best fit the overall goals of Canada’s GHG goals while satisfying the uniqueness of each province’s economic sectors.
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern