1. Introduction: Carbon emissions trading systems (ETS) have been implemented around the world as a means of limiting the production of greenhouse gases (GHG). There are currently a wide variety of these carbon trading systems, each with their own strengths and weaknesses. ETSs were used for other air pollutants before their application to greenhouse gases. Emissions credit trading in the United States has existed since 1977. (Tietenburg et al. 1998, 6) One of the largest and most successful ETSs in the world, it was established in 1990 under the Acid Rain program of the Clearance Amendments Air Act of the United States. (Tietenburg et al. 1998, 6) The Acid Rain program differed from its predecessors in that it was a cap-and-trade program and, as a result, produced much more success. The first Carbon ETS was implemented by BP Corporation, which internally examined the idea of ​​reducing its emissions and implemented it in 1998. (Betsill & Hoffman 2011, 90) The Kyoto negotiations in 1997 also established the framework for an international ETS that was truly global in its scale, although it would not be implemented until 2008. After the Kyoto negotiations and the implementation of their own ETS, many other countries and private companies began to explore their own ETS. In 1998, Shell, Norway, Canada, New South Wales in Australia and the United Kingdom began initial discussions on implementing the GHG ETS cap-and-trade system. (Betsill & Hoffman 2011, 90) In 2009, thirteen ETSs reached the negotiation stage of their implementation. (Betsill & Hoffman 201, 93) They include BP ETS (implemented 1998), Kyoto Protocol ETS (2008), Shell ETS (2002), United Kingdom ETS (2001), Norway ETS (2005), New South Wales ETS (2003 ), Denmark ETS (2000), European...... middle of paper ......l Emissions Trading." Access date 14 April. http://unfccc.int/kyoto_protocol/mechanisms/emissions_trading/items /2731.php U.S. Environmental Protection Agency. 2013 Revisions to the Greenhouse Gas Reporting Rule and Final Confidentiality Determinations for New or Substantially Changed Data Elements Washington, DC. epa.gov/ghgreporting/documents/pdf/2013/documents/2013-data-elements.pdfVoreacos, David and Justin Doom. “Christie Greenhouse Changes Violate New Jersey Law, Bloomberg Court Says.” Last modified: March 26. http://www.bloomberg.com/news/2014-03-25/new-jersey-ordered-by-court-to-repeal-or-amend-pollution-rules.htmlWestern Climate Initiative. 2010. “Updated Economic Analysis of the WCI Regional Cap and Trade Program.” Western Climate Initiative. http://www.westernclimateinitiative.org/component/remository/func-startdown/265/