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Regional Clean Air Incentives Market (RECLAIM) is an emissions trading program operating in the state of California since 1994. Under the trading program, hundreds of polluting facilities are required to cut their emissions of nitrogen oxides (NOx) and sulfur oxides (SOx). Under the system, which operates as a cap-and-trade program, each participating facility is given a certain number of emission rights (the 'cap') for free. In each consecutive year, the number of emission rights given is reduced such that the facilities have to either reduce their emissions or buy up emission rights from facilities with enough to trade. The system was designed to reduce emissions of NOx by 70% from 1994 to 2003, and it was hoped to achieve this more cheaply than the traditional 'command and control' regulations it replaced. However, due to the setting of too generous caps, emissions were reduced at only a fraction of the rate expected at the time of the program's adoption. The US Environmental Protection Agency (EPA) considers RECLAIM a general lesson for market-based systems, namely that market-based programs require significant planning, preparation, and management during development and throughout the life of the program. ==Scope of the Program== As of 2004, The NOx trading program includes 311 participating facilities, and among these 33 also participate in the SOx trading program.〔(''Annual RECLAIM Audit Report for the 2004 Compliance Year'' ). South Coast Air Quality Management District, March 2006.〕 The facilities include a large number of electric power stations, in addition to other types of installations. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Regional Clean Air Incentives Market」の詳細全文を読む スポンサード リンク
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