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A Review Of Emission Trading Systems, Aaron Matthew Gorski

Major Papers

This paper serves as a review of emission trading systems as a means to achieve reductions in the level of greenhouse gas emissions and other pollutants around the world. The review begins with the history of emission trading, beginning with early theoretical frameworks developed by economists in the 1960s and 1970s, followed by early implementations of permit markets similar to modern day emission trading systems. International negotiations related to emission reductions such as the Kyoto Protocol and Paris Agreement are discussed. Next, the economic mechanisms of emission trading systems are discussed, including a brief comparison to carbon taxes as an …