Final answer:
The Ministry of the Environment issues marketable permits, like those introduced under the Clean Air Act amendment to reduce sulfur dioxide emissions and combat acid rain. These 'shrinkable' permits are part of an integrated approach that includes environmental impact assessments and possibly a pollution tax.
Step-by-step explanation:
The Ministry of the Environment, Conservation and Parks can issue various types of permits and approvals. One notable type is marketable permits, which were highlighted in the U.S. government's amendment of the Clean Air Act in 1990 to address the issue of acid rain. These permits, specifically aimed at reducing sulfur dioxide emissions from electric power plants, were granted free of charge, with the characteristic of being 'shrinkable,' meaning that the allowable level of emissions for each permit decreased over time. Furthermore, environmental impact assessments are required before the issuance of such permits, especially in sensitive biodiversity sites or areas delineated for protected status.
In the broader application of marketable permits, they are seen as a form of improved property rights and can be integrated with other market-oriented environmental tools, such as a pollution tax on emissions not covered by a permit. This hybrid approach suggests a targeted strategy to enforce environmental regulations and promote conservation efforts. Combining permits with assessments ensures both the lawful regulation of emissions and the protection of ecologically significant areas.