You are setting up a Cap & Trade program for a small developing country. In orde

Question

You are setting up a Cap & Trade program for a small developing country. In order to train workers in their Ministry of Environment, please talk to them directly to the workers about the following:

a. Justify why this is the best way to regulate Green House Gases (GHG) compared to other regulatory approaches.

b. Discuss the specific steps you would jointly take to implement this program with relevant stakeholders (add your own details).

c. Indicate some cautions about potential pitfalls while setting up the program and how to avoid them.

Explanation / Answer

a. Cap and Trade is the best approach as only through incentivizing the program and methods for reducing Greenhouse gases can help the cause. Other regulations may simply be non-effective in the sense that it is very rare that one takes initiative on social responsibility ground to reduce emission of harmful gases. The cap on limit to pollution is a strict and incentivize approach will make companies and plant to emit less greenhouse gases.

b. The steps would be to talk and hold several conferences, seminars and meetings where major organizations, factory owners, environment ministries officials would be present and chalk out the strategy for implementing such cap and trade initiative.

c. The major pitfall can be related to transparency and implementation of cap and trade program. The chances of non-compliances and behavior of some organizations where their profit from non-following of program would outweigh the incentives and transparency in the whole process can make the program ineffective.

The best solution to these scenarios is that there shall be special dedicated team formed to continuously monitor the program and see its effectiveness throughout the process.

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