By Dani Thompson ’12 climate change lingo The “Lingo” All definitions below are based on usage in terms of U.S. climate change policy… Market-based approach: A way to control and/or regulate carbon emissions via the economic system. This approach is used in contrast to traditional regulations such as those imposed by the Environmental Protection Agency. Cap-and-trade: A market-based approach to lower CO2 emissions by distributing carbon “pollution permits”. These permits can be bought, traded, and sold among all parties involved. The number of permits available will be limited so that a “cap” of total carbon emissions will be established. This cap can be lowered to further minimize emissions in the future. In this approach amount of emissions is certain, but cost of permits is not. (Keohane) Safety valve: An optional addition to the cap-and-trade approach which would … Read entire article »