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Glossary of Terms: T

Tradable Emission Permits: A permit is an authorisation allowing an emitter to emit a specified number of tons of emission, and once emitted, the permit expires. The total number of permits in any tradable market equals the desired level of emissions sought by the regulating authorities. Tradable permits allow emitters to determine the most economic manner to cover their emissions—by buying permits to cover emissions, taking actions to reduce emissions and selling excess permits, or a combination of the above.

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