A way in which the price of an asset, good, or service is freely determined by the forces of demand and supply. (Market mechanisms are more complex than taxes, harder to implement and control, but they are also much more efficient, sector agnostic, and fair.)

To hold or store an asset for future use or transactions. EUAs can be banked, meaning that they can be purchased in a certain year and used for compliance reasons at a later time.

Gasses in the atmosphere, such as carbon dioxide and methane, that trap heat from the sun, contributing to the greenhouse effect and global warming.