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 costs more to maintain ten vices than one virtue.”
—H.L. (Henry Lewis)
“It costs you something to do good!”
—Zora Neale Hurston (1891–1960)
“That which costs little is less valued.”
—Miguel De Cervantes (1547–1616)