Emily TylerI; Michelle du ToitII; Zelda BurchellIII
IClimate Change Economist, Cape Town
IIClimate Change Practice Genesis Analytics, SouthSouthNorth Projects Africa
IIIWSP Environment & Energy
ABSTRACT
]]> Emissions trading is fast becoming one of the most popular policy instruments for reducing greenhouse gas emissions internationally. This hybrid instrument combines the certainty of mitigation volume delivered by regulation, whilst also harnessing the power of the market through an economic approach to deliver migitation price discovery and least cost mitigation opportunities. Theoretically, this is a powerful combination.Keywords: emissions trading, emissions trading scheme, greenhouse gas mitigation, Long-term Mitigation Scenarios
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Acknowledgements
]]> This paper, derived from a report, is the result of collaboration between the Energy Research Centre (ERC), Environmental Policy Research Unit (EPRU) and Genesis Analytics. The ERC and EPRU are both research units at the University of Cape Town. The research by Genesis Analytics was commissioned by the ERC, drawing on National Research Foundation (NRF) funding which is gratefully acknowledged.
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Received 16 March 2009
Revised 23 February 2011