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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.
Opportunity
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
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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