Cap And Trade Is It The Solution Essay

1529 WordsMar 1, 20127 Pages
Justin Gillette Ms. Belasich Honors Intermediate Composition 28 November 2011 Cap and Trade: Is It the Solution? In the annual publication The State of the World analysts of the Worldwatch Institute have said, “We have only one, perhaps two generations in which to reinvent ourselves...[because] by virtually every broad measure our world is in a pervasive ecological decline” (qtd. in Rourke and Boyer 397). This may prove to be an incredibly difficult task as it would require shifting all the players in the global system’s focus to the environment. Especially considering that their individual economic interests come before the overall world’s environmental interests in the current, almost anarchical system. As well, it is not in a lot of countries best interest to reduce the amount of damage they do to the environment because it could potentially hurt its economic growth. So the question becomes: how can the world address the issues of environment while still allowing countries to continue to grow economically? A large part of the answer to that question might lie with the emissions trading system commonly referred to as cap and trade. Cap and trade is currently the most economically sound solution for curbing global warming and should be adopted by the largest emitters, primarily the U.S. and China. The effectiveness can clearly be illustrated in its concept, its practice, and in its potential application to the countries with the largest emissions. To understand how beneficial cap and trade could be theoretically, one must first know exactly what it is and how the system works. Cap and trade is a form of emissions trading in which a higher entity (governments or intergovernmental organizations such as the UN or EU) places a limit on the total amount of greenhouse gases that a lower entity (corporations, states, or countries in the cases the higher powers

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