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Managing Energy Resources and Regulations

   

Added on  2020-10-05

17 Pages3405 Words137 Views
Environmental Science
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MANAGING ENERGY RESOURCESAND REGULATIONS
Managing Energy Resources and Regulations_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................2Overview.....................................................................................................................................2Evaluation of regulatory instruments .........................................................................................3Shaping of energy markets .........................................................................................................8Impact of the management of energy resources..........................................................................8Performance of European Emissions Trading System (EU ETS) ............................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONWith advent of globalisation and liberalisation, there is an enormous amount of pressureon sustenance through proper utilisation of natural resources. However, the incessantexploitation not only hampered the environment but also brought radical changes in the climaticpatterns and ecological dis-balance as well. For this, the governments and internationalregulatory bodies have tried to curb this situation by incorporating various agreements andproposals. Global warning has an imperative contribution in increasing the atmospherictemperature through carbon emissions in leaps and bounds which need immediate measures. It isvirtually impossible to put a complete restriction on all the commodities with processes (Kochand et.al., 2014). This report is based on the objective of “less warming is better than morewarming” and has emphasis on two robust carbon reducing tools such as carbon tax and the capand trade to maintain the environment in proper order.
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MAIN BODYOverviewCarbon tax- It is one of the forms of carbon pricing that is levied on the use of carbon content offuels. This is an effective strategic tool that offers both economic and social profits. Withreference to this policy, there is an emphasis on promoting the policy change in the climaterelated issues without any altercations in the financial cyclic order. This has put dramatic halt onthe emissions of GHG that conclude the extensive evaluation of this scheme through a set ofpolicies and guidelines for the encouragement to use the zero carbon substitutes like solar, windand also alleviating the collective conscience. Hereby, through setting a price on carbon wouldpave the path of low carbon energy systems with the help of technological advancements.Cap and Trade- It is one of the best climatic policies to bring equilibrium between theenvironmental aspects and economic gains. This has been employed for decreasing the levels ofpollution in the surroundings. In this regard, the CAP infers the restrictive limits on the GHGIllustration 1: Rising temperatures with Rising Risks
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