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Editor’s note: Much of this entry was reproduced (in a slightly different format) in David Fleming and Shaun Chamberlin (2011), TEQs (Tradable Energy Quotas): A Policy Framework for Peak Oil and Climate Change, published as an All Party Parliamentary Report. For more on the political history and progress of TEQs to that date, see chapter 6 of that report, “Policy Update, including A Brief History of TEQs”.

Or for a more recent, peer-reviewed treatment of TEQs, including a summary of the system’s impact up to 2015, see Shaun Chamberlin, Larch Maxey and Victoria Hurth (2015), “Reconciling Scientific Reality with Realpolitik: Moving Beyond Carbon Pricing to TEQs—An Integrated, Economy-Wide Emissions Cap”, Carbon Management, 5, 4, 16 Apr 2015, pp 411–427.

Note that TEQs is not only suited as a catalyst to adequate global agreement on emissions reductions; it is equally suited as an alternative to such negotiations.

As discussed in the 2015 paper above, any unilateral or multilateral implementation of TEQs would make import tariffs necessary, to ensure that manufacturers in the countries concerned were not disadvantaged relative to international competitors (Protection; see also www.flemingpolicycentre.org.uk/faqs/#36). These tariffs will generate revenue for the TEQs countries when they import goods. And importantly, this will in turn provide a strong incentive for the exporting countries to themselves implement TEQs or a similar policy, so that they can collect this revenue, instead of letting it flow overseas. In this way, effective climate policy spreads around the world.