Market Approach in Environmental Protection and Response to Climate Change: US Experience

Abstract

Abstract: Promoting market-based approach to reduce burden on the State budget and mobilize resources from various sectors of the society, especially in the field of environmental protection and response to climate change, has become a global trend. This paper analyzes the essence of this approach and discusses the conditions required for its successful implementation, based on experiences from the United States and some other developed market economies. Accordingly, the article also discusses some specific solutions that can be applied in Vietnam in implementing this approach.

Keywords: Market-based approach, command and control approach, market-based solutions, environmental protection, climate change response.

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