Abstract

New environmental policy instruments such as market based mechanisms and environmental agreements have provided major opportunities for improving environmental policy integration. This is achieved through the utilization of market forces and inter actor co-operation to infuse environmental stewardship into the activities of economic agents. The UK Climate Change Program uses a number of these market based instrument in a bid to meet its Kyoto obligations. The UK Emissions Trading Scheme is one of such instruments. This paper gives an overview of the scheme analyzing it for the ...