Emission trading as a market-based incentive program designed to control air emissions. The two key advantages of an emission trading program are the potential to achieve air emission targets at a lower total cost to society than under a "command-and-control" approach, and an ability to accommodate economic growth without compromising environmental quality. This report covers seven areas specifically: controlling air emissions, trading emissions, previous emission trading experience, policy and design issues, administrative issues and emission trading in the Lower Fraser Valley.
Emission Trading Working Group. 1992. Emission Trading: A Discussion Paper. Emission Trading Working Group