Emissions Trading System Act(ESTA), 674

An act to REGULATE our carbon emissions. An act HELP the environment.

Emissions Trading System Act(ESTA)

Article 1: Establishment

1.1 The Ministry of Commerce and Labour shall establish the Emissions Trading Regulatory Body or ETRB.

1.2 The Ministry of Commerce and Labour shall establish a "cap and trade" system.

1.2.1 The Ministry of Labour and Commerce shall sell credits which translate to emitted metric tons of CO² emissions.

1.2.2 Companies must have at least credits as emitted metric tons of CO².

1.2.3 The Ministry of Labour and Commerce shall set the price of one credit at 40 florins.

1.3 Companies shall have the ability to sell and trade credits between themselves.

1.4 Credits not used after 1 year of buying them from the Ministry of Labour and Commerce shall be nulled.

1.5 Credits shall not be used on small businesses and businesses producing insignificant amount of CO² which would be determined by experts.

1.6 If a company gives proof that a part of the CO² emissions have been recycled then credits won't be used depending on the amount recycled.

Article 2: Funding

2.1 The funding for establishment and the work shall be set at 50 million quaterly.

Article 3: Regulation

3.1 If companies produce more CO² emissions than credits owned then they shall face a fine determined by the ETRB.

3.2 If companies are found to be producing significant amount of CO² without acquiring credits they shall also face fines determined by the ETRB.

3.3 All fines given out shall only be given out on the basis of the infraction and the size of the fine shall be determined only on the basis of the infraction and no external motives.

Authored and written by MGA and Minister of Social services Brook Vonz