Working Group III: Mitigation

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Optimal policy
A policy is assumed to be “optimal” if marginal abatement costs are equalized across countries, thereby minimizing total costs.

An opportunity is a situation or circumstance to decrease the gap between the market potential of any technology or practice and the economic potential, socio-economic potential, or technological potential.

Opportunity cost
Opportunity cost is the cost of an economic activity forgone by the choice of another activity.

Ozone, the triatomic form of oxygen (O3), is a gaseous atmospheric constituent. In the troposphere it is created both naturally and by photochemical reactions involving gases resulting from human activities (“smog”). Tropospheric ozone acts as a greenhouse gas. In the stratosphere it is created by the interaction between solar ultraviolet radiation and molecular oxygen (O2). Stratospheric ozone plays a decisive role in the stratospheric radiative balance. Its concentration is highest in the ozone layer.

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