Market-Based Approaches
Market-Based Approaches : A system of market-based declining annual aggregate emissions limitations for sources, or categories of sources, that emit greenhouse gases. Market-based can also refer to greenhouse gas emissions exchanges, banking, credits and other transactions, governed by rules and protocols established by the ARB, that result in the same greenhouse gas emission reduction, over the same time period, as direct compliance with a greenhouse gas emission limit or emission reduction measure adopted by the ARB
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