THE IMPACT OF THE CAP-AND-TRADE SYSTEM ON SUSTAINABLE DEVELOPMENT IN ROMANIA

Bologa (Fiat) Gabriela () and Balint (Platon) Judit ()
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Bologa (Fiat) Gabriela: Universitatea Agora, Facultatea de Drept si Stiinte Economice
Balint (Platon) Judit: Universitatea Oradea, Facultatea de Stiinte Economice

Annals of Faculty of Economics, 2010, vol. 1, issue 2, 69-75

Abstract: The issue of pollution is an important contemporary issue. Within the last 20 years, there have been global studies on how to stop global warming. The European Union is the world leader in concrete measures undertaken in this respect. The introduction of the cap-and-trade system, begun in 2005 with the carbon emission certificate trade mechanism is considered a a modest succes that needs perfecting. The new EU directives of 2009, that come into effect in 2013, test member countries in the area of conventional and renewable energy strategies which have to be adapted to the national environmental protection strategies.

Keywords: market failure; cap-and-trade; emission certificates; carbon market (search for similar items in EconPapers)
JEL-codes: Q54 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2010:i:2:p:69-75

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