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Article summary:
1. Carbon pricing instruments, such as carbon taxes and emissions trading systems, can provide a clear signal that GHG emissions have a cost to society.
2. This report analyses the design and implementation of trading systems in different jurisdictions around the world, considering the complexity of interlinkages between energy policies, energy targets and energy system structures.
3. Policy makers should consider the role of an emissions trading system in their jurisdiction’s long-term strategy, as well as how to ensure long-term policy predictability for it.
Article analysis:
The article is written by the International Energy Agency (IEA), which is a reliable source of information on energy-related topics. The article provides an overview of emissions trading systems and their potential benefits for reducing GHG emissions. It also provides analysis of real-world experiences with these systems in different jurisdictions around the world, including key issues and common challenges faced when implementing them.
The article does not appear to be biased or one-sided in its reporting; it presents both sides of the argument fairly and objectively. It also provides evidence for its claims, such as data on countries that have implemented carbon pricing schemes and examples of different types of caps used in emissions trading systems. However, there are some points that could be explored further or presented more clearly; for example, the article does not discuss possible risks associated with implementing these systems or any counterarguments to their use. Additionally, while it does provide some guidance for policy makers on designing and implementing emission trading systems, this could be expanded upon further to provide more detailed advice on specific aspects such as setting caps or ensuring long-term policy predictability.