Market-based mechanisms for addressing environmental externalities have the potential to reduce environmental harms at lower cost and with greater efficiency than more traditional command-and-control approaches. However, the use of “cap and trade” mechanisms also entails overcoming a number of challenges including institutional capacity, initial allocation, and distributional equity, among others. This dicussion will focus on an innovative use of market-based mechanisms as an alternative to command-and-control regulation for controlling water pollution. Amelia Letnes from the U.S. Environmental Protection Agency will discuss the lessons of the U.S. experience in applying water quality trading.
How to join! Wednesday, November 9 | 12:30pm – 2:00pm