word
cap and trade
KAP and TRAYD
kæp ænd treɪdListen
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Syllable breakdown
capandtrade
Dictionary meaning
an environmental policy mechanism in which a regulatory authority sets a maximum limit on the total amount of a pollutant that can be emitted across an industry or economy, and then issues tradeable permits equal to that cap; firms that can reduce emissions cheaply sell surplus permits to those for whom reduction is more costly, achieving the overall environmental target at the lowest aggregate cost; used extensively for carbon dioxide, sulfur dioxide, and nitrogen oxides
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