FAr as I know Suppos'n the certificates are given to industries who create efficiences in the industries that reduce THEIR carbon use.
That basically means that the dirtiest industries have the largest means of making money off finally getting around to doing what they ought to have ALREADY done.
That is why, to a great extent, I am not especially impressed with this system.
I believe it will become a corrupted system of selling INDULGENCES granted to the INSIDERS by a corrupted government.
Now, in principle, Suppos'n, I can understand the market theory behind this plan.
But it's in the practice that I think this plan is going to go astray.
Editec, we seem to be on the same page and asking the same questions. The key concept of both cap and trade and Import Certificate proposals are dependent upon opposing stresses keeping the systems in equilibrium. Thats why both systems employ transferable certificates or permits.
You seem to have already inclined to oppose Caps and Trade due to insufficient checks and balances. I question it for the same reason.
Eventually I hope to encounter some written proposal(s) of how this system could be effectively administered.