Transforming Economic Incentives From Theory to Reality: The Marketable Permit Program of the South Coast Air Quality Management District
Editors' Summary: Modern environmental law has relied almost exclusively on either mandating or forbidding certain conduct in order to reduce pollution. In addressing pollution that causes acid rain, the 1990 Amendments to the Clean Air Act adopted a new approach: Encouraging pollution reduction through market-based incentives. The South Coast Air Quality Management District (SCAQMD or the District), which is responsible for regulating air pollution in the Los Angeles metropolitan area, adopted this approach in its Regional Clean Air Incentives Program (RECLAIM).