Final paper corrected.doc - Running Head HEADING TOWARDS A MORE SUSTAINABLE FUTURE Heading Towards a More Sustainable Future Ashiya Campbell Public

Final paper corrected.doc - Running Head HEADING TOWARDS A...

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Running Head: HEADING TOWARDS A MORE SUSTAINABLE FUTURE 1 Heading Towards a More Sustainable Future Ashiya Campbell Public Policy 101-Making Public Policy Dr. Daniel Gitterman The University of North Carolina at Chapel Hill November 18, 2018
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HEADING TOWARDS A MORE SUSTAINABLE FUTURE 2 Executive Summary Today, climate change is increasingly becoming a significant challenge that is drastically affecting the environment. According to The United States Environmental Protection Agency (2017), the key contributors that provoke climate change are greenhouse gases emitted by human activities, which include carbon dioxide (CO ), methane (CH ), nitrous oxide (N O), and fluorinated gases (F-gases). The impact of these harmful gases contributes to the global rise in temperature, melting of polar ice caps, and the depletion of the ozone layer. Although, many strategies have been devised to help minimize greenhouse gases many of them fail to help lessen the number of greenhouse gases that are emitted into the atmosphere. Excessive greenhouse gases can lead to global warming; this paper further investigates public policies that should be adopted by various governments to help reduce the number of greenhouse gases. The policy is built on three major elements: market-based environmental policy instruments, carbon tax policy and command-and-control regulatory approach. The market-based environmental policy instruments consist of the cap-and-trade schemes and transferable permits, which effectively helps reduce the emission of greenhouse gases as well as handle the impacts. Legislators would assign accountability from the source for the emissions that are released. Companies and firms would be responsible for their decision of producing these emissions and would have to acknowledge how it is harming the environment. The advantages of using this policy would result in minimizing the overall amount of greenhouse gases that are emitted each year. This would keep track of the amount of GHGs that are produced from various firms. The disadvantages of using the market-based environmental policy can cause some companies and firms disagreement on lowering the emission of GHGs. Another issue may
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HEADING TOWARDS A MORE SUSTAINABLE FUTURE 3 be the focus on the economic downfall of the economy, which can result in numerous consequences. The carbon tax policy imposes a direct fee, on the bases of the quantity of GHGs emitted, which would be implemented once policymakers introduce and diversify the existing carbon tax policies. This would motivate industries, households, businesses, and the government to cut down on the amount of GHGs they produce. However, there are many difficulties in measuring how much carbon is produced and knowing what level of carbon tax to charge. Carbon taxes can result in tax evasion, the illegal evasion and nonpayment of tax.
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