Global CO2 market
If the new system for emission caps suggested by Vattenfall is introduced, all countries will experience increased costs. But this will occur at a moderate pace - providing the time to take necessary measures.
Managing the emission problem with market mechanisms instead of taxation will lead to greater efficiency. The market solution has the capacity to decrease emissions in the cheapest and most cost-effective manner. The introduction of a global regulatory framework will also give rise to many business opportunities. It will stimulate the formation of new industries with new areas of operations. It will then be possible to exploit the market system to the advantage of the environment. Curbing climate change is about combining technology, finance and policy wisely. If the international community can unite behind a global solution, a wordwide CO2 market will follow.
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