A Review on Emission Trading System (ETS): Policy Tool for Green Technology Transition and Humanitarian Equity

This research explores the significance of emission trading systems (ETS) as a tool for addressing climate change and supporting humanitarian efforts. This paper investigates the execution of emissions trading systems (ETSs) in twenty different regions, including supranational, national, and provincial system which aims to evaluate various ETS cases at different levels. Furthermore, also assessed their environmental effectiveness and revenue management practices. The findings showed that the European Union is leading in allocating revenue for green technologies while the United States focuses on distributional equity, and Germany's for efficient revenue management, underscoring the diverse strategies in ETS regions. In conclusion, this study emphasizes the significance of revenue distribution in emission trading systems (ETS) to address environmental issues, advance equity, and support sustainable economic development, offering insightful information for decision-makers and directing future initiatives towards a greener and more inclusive future.