Environmental Policy Between Regulation and Market

This book analyzes new economic instruments for environmental protection, saying that traditional environmental policies are not working efficiently; it asserts that the new instruments give companies more freedom in the choice of means, and of increasing the chances for meeting goals in a more cost-effective way. The authors analyze these instruments - green taxes, tradeable permits, covenants, joint implementation, internationally tradeable quotas - from the point of view of cost-effectiveness, their ability to achieve environmental goals, and their public and corporate acceptability. They try to determine, on the basis of experience, whether these instruments are living up to expectations.