Carbon credits were developed as a mechanism to reduce greenhouse gas emissions.
Companies receive a certain amount of credit, which decreases over time, and they can sell any excess to another company.
Carbon credits provide companies with a monetary incentive to reduce carbon emissions. Those who cannot cut emissions easily can still operate at higher financial costs.
Carbon credits are based on the cap-and-trade model that was used to reduce sulfur pollution in the 1990s.
Negotiators at the COP26 climate change summit in Glasgow in November 2021 agreed to create a global carbon trading market.
The Americans with Disabilities Act (ADA) was passed in 1990 to prevent discrimination against people with disabilities in the workplace and in employment.
Autarky refers to a state of self-sufficiency and is commonly used to describe countries or economies that seek to reduce their dependence on international trade.
A Build-Operate-Transfer (BOT) contract is a model used to finance large projects, usually infrastructure projects, developed through a public-private partnership.
Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector, in which labor is paid only according to wages.
The term “discount rate” can refer to either the interest rate the Federal Reserve charges banks for short-term loans or the rate used to discount future cash flows in a discounted cash flow (DCF) analysis.