Table 3: Determinants of potential to ensure environmental quality goals
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| Type of attribute | Attributes favouring cost savings from instrument implementation | Instrument type | ||
|---|---|---|---|---|
| Tradeable permits and offsets | Tendering | Environmental charges | ||
|
Institutional |
Sufficiently strict standards underpinning tradeable permit/offset scheme |
X |
||
|
Institutional |
Sufficient cost sharing budget |
X |
||
|
Institutional/ Policy design |
Charge rate level sufficiently high and differentiated based on impact differences |
X |
||
|
Market |
Environmental mitigation supply responsiveness to price |
X |
X |
|
|
Market |
Private willingness to pay for environmental outcome |
X |
||
|
Policy design |
Standards updateable Charge rates updateable Based on improved information about sustainable level of environmental impact, mitigation supply response to price |
X |
X |
|
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