Turab Musayev Looks at the Pros and Cons of Emissions Trading Schemes

As Emissions Trading Schema Become More Prevalent, Turab Musayev Evaluates the Advantages and Disadvantages of Them

LONDON, UK / ACCESSWIRE / May 3, 2021 /As emissions concerns increase both domestically and globally, a corresponding increase in emissions trading schemes has also developed. Energy expert Turab Musayev is well-qualified to weigh in on the pros and cons of these schemes, some of which have only been suggested and others that are already in use.

Current Emissions Trading Schemes Are Limited
Turab Musayev notes that the current emissions trading schemes are limited in scope. Even though they may be a good start, more development in emissions trading policies is needed.

For example, Musayev points to the European Trading Scheme. The scheme effectively taxes large industrial emissions within the European Union, but its setup excludes about 60 percent of the EU’s greenhouse emissions. Until a more robust system is in place, the policy won’t be as effective as needed.

Any Global Scheme Will Face International Scrutiny
The limited scope of the European Trading Scheme shows the need for a global emissions trading scheme, but any such international collaboration will face scrutiny from multiple countries. Actually affecting a global scheme would be a significant diplomatic challenge.

Any Global Scheme Might Create Emissions Havens
If a global emissions trading scheme were successfully developed, countries would have to watch for emissions havens where companies can bypass the regulations. Much like tax havens, certain countries might become havens for greenhouse emissions according to Turab Musayev. This would greatly reduce the effectiveness of the global trading scheme.

More Robust Schemes Would Increase Who Pays for Emissions
Under the current emissions trading schemes, many major companies are able to bypass any greenhouse gas — such as the 60 percent that’s not included in the European Trading Scheme. More robust trading schemes would ensure more organizations, and hopefully, everyone, pay for the emissions they produce.

More Robust Schemes Would Curb Emissions Much Faster
If an emissions trading scheme that taxed everyone according to their emissions production was developed, the presumptive effect on emissions would be profound. Turab Musayev expects that global greenhouse gas emissions would quickly decrease.

Trading Emissions Would Create Innovative Investment Opportunities
With any new and more robust emissions trading scheme, there would also be more opportunities for investors and traders. The expanded emissions commodity market would create opportunities for innovation within the investment field.

Turab Musayev Sees Many Benefits to Emissions Trading Schemes
There certainly are challenges to developing more robust emissions trading schemes. Turab Musayev sees many benefits to further developing this aspect of the commodities market, though. The steps taken have already been helpful, and a more robust trading scheme would have even more advantages.

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SOURCE: Turab Musayev

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