Implementing a global greenhouse gas emissions trading program

The Kyoto Protocol of 1997 loosely outlines a variety of possible greenhouse gas emissions trading plans. Emissions trading has been used successfully in the U.S. to reduce emissions of SO2, NOx, and CFCs, and to eliminate use of leaded gasoline. A brief review of these programs is presented, followed by a discussion of the elements that made them successful. These success factors will then be discussed in the context of a global greenhouse gas trading system. Trading may help substantially reduce emissions by channeling funds to the location where the most reduction per unit of currency is achieved. However, the effectivness of the Kyoto protocol is in severe jeopardy due to a lack of interest by the U.S. government.