Tradable emissions quotas/credits (TEQs), also called marketable or auctionable permits or tradable emissions permits, have been adopted by a number of countries. In the USA they have been used for control of air pollution emissions for over a decade, and in France to control water-borne effluent since 1969 (Owen and Unwin, 1997: 402). There has been considerable interest in the use of TEQs for dealing with transboundary atmospheric pollution, especially carbon dioxide emissions (Koutstaal, 1997).