Economic or market-based instruments aim to give the greatest incentive to mitigate environmental impacts to organizations that are able to make change at least cost. If this is achieved, it should mean that the environment is protected at least overall cost to society. This quality of economic instruments is frequently contrasted with regulatory approaches that seek to equalize the environmental standards adhered to across all organizations. Rather than equalizing the standard attained by each individual organization, economic instruments focus on the overall level of environmental performance for an economy as a whole and seek to equalize the expenditure regulated organizations must make for this desired level of ...
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