Costs
Emissions in the EU have been reduced at costs that are significantly lower than projected, though transaction costs are related to economies of scale and can be significant for smaller installations. Overall, the estimated cost was a fraction of 1% of GDP. It was suggested that if permits were auctioned, and the revenues used effectively, e.g., to reduce distortionary taxes and fund low-carbon technologies, costs could be eliminated, or even create a positive economic impact.
Read more about this topic: European Union Emission Trading Scheme
Famous quotes containing the word costs:
“It is commonly said by farmers, that a good pear or apple costs no more time or pains to rear, than a poor one; so I would have no work of art, no speech, or action, or thought, or friend, but the best.”
—Ralph Waldo Emerson (1803–1882)
“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”
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“It costs you something to do good!”
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