Sustainable Water Quality Management Policy The Role of Trading: The

After the success of the Acid Rain Program, pollution trading became a more acceptable policy in dealing with pollution problems. Trading of pollution credits and allowances helps to achieve environmental goals faster and more co- effectively. Although fo

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ALLIANCE FOR GLOBAL SUSTAINABILITY BOOKSERIES SCIENCE AND TECHNOLOGY: TOOLS FOR SUSTAINABLE DEVELOPMENT VOLUME 10 Series Editor:

Dr. Joanne M. Kauffman Laboratory for Energy and the Environment Massachusetts Institute of Technology 1 Amherst St., Room E40-453 Cambridge, Massachusetts 02139 USA [email protected]

Series Advisory Board: Dr. John H. Gibbons President, Resource Strategies, The Plains, VA, USA Professor Atsushi Koma Vice President, University of Tokyo, Japan Professor Hiroshi Komiyama University of Tokyo, Japan Professor David H. Marks Massachusetts Institute of Technology, USA Professor Mario Molina Massachusetts Institute of Technology, USA Dr. Rajendra Pachauri Director, Tata Energy Research Institute, India Professor Roland Scholz Swiss Federal Institute of Technology, Zürich, Switzerland Dr. Ellen Stechel Manager, Environmental Programs, Ford Motor Co., USA Professor Dr. Peter Edwards Department of Environmental Sciences, Geobotanical Institute, Switzerland Dr. Julia Carabias Instituto de Ecología, Universidad Nacional Autónoma de México, México Aims and Scope of the Series The aim of this series is to provide timely accounts by authoritative scholars of the results of cutting edge research into emerging barriers to sustainable development, and methodologies and tools to help governments, industry, and civil society overcome them. The work presented in the series will draw mainly on results of the research being carried out in the Alliance for Global Sustainability (AGS). The level of presentation is for graduate students in natural, social and engineering sciences as well as policy and decision-makers around the world in government, industry and civil society.

Sustainable Water Quality Management Policy The Role of Trading: The U.S. Experience

by

C. Pharino MIT, Cambridge, MA, U.S.A.

A C.I.P. Catalogue record for this book is available from the Library of Congress.

ISBN-10 ISBN-13 ISBN-10 ISBN-13

1-4020-5862-4 (HB) 978-1-4020-5862-2 (HB) 1-4020-5863-2 (e-book) 978-1-4020-5863-9 (e-book)

Published by Springer, P.O. Box 17, 3300 AA Dordrecht, The Netherlands. www.springer.com

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ALLIANCE FOR GLOBAL SUSTAINABILITY An International Partnership

Alliance for Global Sustainability International Advisory Board (IAB)

Chairman: Mr. Lars G. Josefsson, President and Chief Executive Officer, Vattenfall AB AGS University Presidents: Prof. Hiroshi Komiyama, President, University of Tokyo Dr. Susan Hockfield, President, Massachusetts Institute of Technology Prof. Karin Markides, President, Chalmers University of Technology Prof. Ernst H