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Exams Regulations. All candidates shall be required to take and pass first year examinations in all the EIGHT course units offered.
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Each course unit shall be examined through a three hour written examination paper at the end of the semester. Continuous assessment shall consist of term papers and tests. Each course shall be examined through a three hour written examination paper at the end of the first semester of the second year.
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Examination of the Research Project Each candidate, working under the guidance of at least two academic supervisors shall complete an original in-depth research project on a topic chosen in consultation with the School. A candidate who fails in the research project shall be given three months to revise and re-submit for examination. A candidate who fails in the revised project shall be discontinued. The trade, on the other hand, builds a ready market for carbon permits helping industries and companies and factories to innovate so that they can meet their allocated emission limit.
The more these factories emit the more they pay and vice-versa. This therefore acts as an incentive for the companies to pollute less. A cap puts a maximum tolerable level of pollution and makes companies that go beyond this limit to pay.
This is a sure way of guaranteeing lower emissions. The cap is usually measured in billions of tons of carbon dioxide per year.
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It covers economy wide emissions including natural gas generation , electricity generation, large manufacturers and transportation. Emitters are only allowed to release a set limit of pollution. Permits are issued to emitters and operating without a permit is against the law. The government normally issues out some permits freely especially to companies or factories in sectors whereby they are more vulnerable to competitors from areas that are not under the cap-and-trade system.
The rationale here is to ensure that these companies do not face a disadvantage in an area where the system applies. In other situations, the government can sell the permits to raise revenue to allow it to administer and enforce the policy.
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Certain companies are able to reduce their carbon emissions to match the number of permits they have. Unfortunately, some companies cannot do this. Trading in permits enables companies to buy and sell their allowances. This leads to efficient and more cost-effective pollution reductions and acts as a motivation to invest more in cleaner technology.
It is important to point out that all the carbon dioxide released into the atmosphere goes into the upper part of the atmosphere and settles there. This in turn has a negative global effect no matter the place or jurisdiction in which the emitter is located. Companies can actually turn their pollution cuts into revenue. For example, if a company has the ability to reduce its pollution level easily and cheaply, it will have extra allowances.
The company can then sell the additional allowances to other factories or companies that have a deficit or do not have the permit. This acts as an incentive for investment, creativity to do more and to conserve energy. Large companies can through this turn their pollution cuts into money. The option to purchase allowances gives companies the needed flexibility. Some companies might want to make long term investments and they do not have the ability due to lack of finances. By trading allowances, these companies get an option to meet their annual targets. This system has been proven to be highly effective in circumstances such as reducing gas emissions on a regional scale and from multiple sources that reveal a range of control costs.
It helps in achieving a significant reduction of emissions on a regional scale. On top of that, the cap and trade system has helped in ensuring substantial improvements in air quality. Despite the gains made by these systems or programs, the policies may perhaps not be the ultimate solution to all air pollution problems. The system is effective when:. Under the right state of affairs, the cap-and-trade system has been confirmed to be very effective, providing considerable emission reductions, accountability and exceptional data quality as well as access. The three features that are important to the design and implementation of environmentally sensitive and economically efficient cap and trading programs include:.
A PHP-based second-hand commodity trading system for college students - Programmer Sought
This is an integral part of a successful and proficient cap-and-trade program. A compulsory cap on emissions is important in protecting public health as well as the environment. It is also critical in sustaining the protection in future generations. On top of that, the cap also provides stability and certainty to the permit trading market. The companies that deal in the trade of their allowances will rest easy knowing that the market is stable.