Joint Implementation (JI), is another mechanism, allowing investments in developed countries to generate emission credit for the same or another developed country.

Environmental Resources would verify the emission credits.

But only after taking a class at Vermont Law School in environmental law did he realize he wanted a job in trading of emission credits.

The flexibility in the process of allocating emission credits or allowances will also accommodate the different air quality needs in the East and the West while preserving fair competition.

Regulatory agencies run the risk of issuing too many emission credits, diluting the effectiveness of regulation, and practically removing the cap.

It lobbied for tighter regulation of air pollution, because it had figured a way to make money trading emission credits.

A similar trading of emission credits is currently in use to handle sulfur dioxide, the pollutant that is a component of acid rain.

Regulatory agencies run the risk of issuing too many emission credits, which can result in a very low price on emission permits (CCC, 2008, p. 140).

The concept is similar to a system under the Clean Air Act that allows companies within the United States to buy and sell emission credits.

Robert H. Russell, a staff lawyer for the Conservation Law Foundation, said the effort would give a sense of how trading in emission credits might work.