The chapter "Pollution Control: Targets" from the book "Natural Resource and Environmental Economics" by Roger Perman, Yue Ma, James McGilvray, and Michael Common discusses the concept of pollution targets and how they are determined using economic efficiency criteria. The chapter begins by explaining the importance of setting pollution targets and the challenges in achieving economic efficiency in pollution control. It then delves into the framework for understanding how pollution emissions and stocks are linked to environmental damage, using the oil-to-electricity fuel cycle as an example. The chapter outlines two types of pollution: flow-damage pollution, where damage is dependent on the rate of emissions, and stock-damage pollution, where damage is dependent on the stock of pollutants in the environment. It explains that most pollution problems involve both flow and stock effects, but the focus is primarily on stock-damage pollution. The chapter then explores the efficient level of pollution, which is determined by maximizing net benefits (benefits minus costs) from pollution. This involves finding the point where marginal benefits equal marginal damage. The efficient level of pollution is not necessarily zero, as some pollution can be beneficial in certain contexts, such as when it is necessary for producing goods and services. The chapter also discusses modified efficiency criteria, where policy makers may prioritize specific types of pollution costs, such as health risks, over others. It examines the implications of these criteria on pollution targets and the trade-offs involved. Finally, the chapter touches on the concept of "no regrets" policies, which are actions that can achieve environmental objectives without additional costs or even generate ancillary benefits, such as improved health or technical efficiency gains. An example of this is the potential double dividend from reducing carbon dioxide emissions, where the revenues from emissions taxes can be used to reduce other distortionary taxes, leading to both environmental and economic benefits.The chapter "Pollution Control: Targets" from the book "Natural Resource and Environmental Economics" by Roger Perman, Yue Ma, James McGilvray, and Michael Common discusses the concept of pollution targets and how they are determined using economic efficiency criteria. The chapter begins by explaining the importance of setting pollution targets and the challenges in achieving economic efficiency in pollution control. It then delves into the framework for understanding how pollution emissions and stocks are linked to environmental damage, using the oil-to-electricity fuel cycle as an example. The chapter outlines two types of pollution: flow-damage pollution, where damage is dependent on the rate of emissions, and stock-damage pollution, where damage is dependent on the stock of pollutants in the environment. It explains that most pollution problems involve both flow and stock effects, but the focus is primarily on stock-damage pollution. The chapter then explores the efficient level of pollution, which is determined by maximizing net benefits (benefits minus costs) from pollution. This involves finding the point where marginal benefits equal marginal damage. The efficient level of pollution is not necessarily zero, as some pollution can be beneficial in certain contexts, such as when it is necessary for producing goods and services. The chapter also discusses modified efficiency criteria, where policy makers may prioritize specific types of pollution costs, such as health risks, over others. It examines the implications of these criteria on pollution targets and the trade-offs involved. Finally, the chapter touches on the concept of "no regrets" policies, which are actions that can achieve environmental objectives without additional costs or even generate ancillary benefits, such as improved health or technical efficiency gains. An example of this is the potential double dividend from reducing carbon dioxide emissions, where the revenues from emissions taxes can be used to reduce other distortionary taxes, leading to both environmental and economic benefits.