Legal Aspects Of Carbon Trading Kyoto Copenhagen And Beyond
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Legal Aspects of Carbon Trading by David Freestone,Charlotte Streck Pdf
Since 2005 the carbon market has grown to a value of nearly $100 billion per annum, including the EU Emissions Trading Scheme and other schemes. This work covers the legal aspects of these schemes, as well as reform of the ETS, and the successor regime to the 1997 Kyoto Protocol currently being negotiated. It will be invaluable to those involved in the field.
Legal Aspects of Implementing the Kyoto Protocol Mechanisms by David Freestone,Charlotte Streck Pdf
The first protocol to the UN Framework Convention on Climate Change (UNFCCC) was adopted in Kyoto in 1997 and entered into force in February 2005. It is a unique international law instrument which sets legally binding targets for the reduction of emissions of greenhouse gases which contribute to climate change. The targets are unprecedented in an environmental agreement and will involve substantial financial commitment in virtually all industrialized country parties to the protocol. The Kyoto Protocol is also the first international agreement to include economic instruments which are designed to involve private sector entities and assist parties to meet their targets. These economic instruments, known as the Kyoto or flexible mechanisms, are Joint Implementation (JI), the Clean Development Mechanism (CDM), and International Emissions Trading. The Kyoto Protocol defined these mechanisms but did not set out the details necessary for their operation. After protracted negotiations, detailed rules were finalized at the Seventh Session of the UNFCCC Conference of the Parties held in Marrakech in 2001. The Marrakech Accords run to almost 250 pages but still leave many important practical issues unaddressed. As the 2008-2012 commitment period of the Kyoto Protocol draws close more and more projects under CDM and JI are being developed to take advantage of the Kyoto mechanisms and the key issues and problems are now becoming more apparent. Drawing on the emerging bodyof expertise in this complex area, this book conveys a knowledge of what is becoming known as 'Carbon Finance'. It thereby aims to contribute to the development of the market for carbon emission reductions - one of the objectives of the Kyoto mechanisms.
The Kyoto Protocol and Beyond by Wybe Th. Douma,Leonardo Massai,Massimiliano Montini Pdf
This book brings together the results of two conferences: 'The Kyoto Protocol and beyond: A legal perspective', organised by the University of Siena on 10-11 June 2006, and 'Tackling Climate Change: An appraisal of the Kyoto Protocol and options for the future', held at the T.M.C. Asser Institute in The Hague on 30-31 March 2007. These conferences focused on the legal aspects of the Kyoto Protocol implementation and the post-2012 regime. Experts in European and international environmental law shared ideas and experiences gained so far by the European Union, individual states (including Germany, the Netherlands, the Western Balkans, CIS countries including Russia and developing countries) and private entities in the implementation of the Kyoto Protocol and its flexible mechanisms. Much attention was given to the design of the future regime, from the perspectives of both the European Union and developing states.
Over the last four decades emissions trading has enjoyed a high profile in environmental law scholarship and in environmental law and policy. Much of the discussion is promotional, preferring emissions trading above other regulatory strategies without, however, engaging with legal complexities embedded in conceptualising, scrutinising and managing emissions trading regimes. The combined effect of these debates is to create a perception that emissions trading is a straightforward regulatory strategy, imposable across various jurisdictions and environmental settings. This book shows that this view is problematic for at least two reasons. First, emissions trading responds to distinct environmental and non-environmental goals, including creating profit-centres, substituting bureaucratic control of resources, and ensuring regulatory compliance. This is important, as the particular purpose entrusted to a given emissions trading regime has, as its corollary, a particular governance structure, according to which the regime may be constructed and managed, and which trusts the emissions market, the state and rights in emissions allowances with distinct roles. Second, the governance structures of emissions trading regimes are culture-specific, which is a significant reminder of the importance of law in understanding not only how emissions trading schemes function but also what meaning is given to them as regulatory strategies. This is shown by deconstructing emissions trading discourses: that is, by inquiring into the assumptions about emissions trading, as featuring in emissions trading scholarship and in debates involving law and policymakers and the judiciary at the EU level. Ultimately, this book makes a strong argument for reconfiguring the common understanding of emissions trading schemes as regulatory strategies, and sets out a framework for analysis to sustain that reconfiguration.
Emissions Trading Schemes under International Economic Law by James Munro Pdf
The announcement by China that it will implement a national emissions trading scheme confirms the status of this instrument as the pre-eminent policy choice for mitigating climate change. China will join the dozens of existing and emerging schemes around the world - from the EU to California, South Korea to New Zealand - that use carbon units (otherwise known as emissions permits or carbon credits) to trade in greenhouse gas emissions in a multi-billion dollar global carbon market. However, to date, there has been no consensus about this pre-eminent policy instrument being regulated by international economic law through the World Trade Organization, international investment agreements, and free trade agreements. Munro addresses this issue by evaluating whether carbon units qualify as 'goods', 'services', 'financial services', and 'investments' under international economic law and showing how international economic law applies to emissions trading scheme in diverse and unexpected ways. Further, by engaging in a comparative assessment of schemes around the world, his book illustrates how and why all emissions trading schemes engage in various forms of violations of international economic law which would not, in most instances, be justified by environmental or other exceptions. In doing so, he demonstrates how such schemes can be designed or reformed in ways to ensure their future compliance.
The Protection of Indigenous Peoples and Reduction of Forest Carbon Emissions by Handa Abidin Pdf
In The Protection of Indigenous Peoples and Reduction of Forest Carbon Emissions, Handa Abidin identifies approaches that can be used by indigenous peoples to protect their rights in the context of REDD-plus.
Climate Change and International Trade by Rafael Leal-Arcas Pdf
Rafael Leal-Arcas expertly examines the interface of climate change mitigation and international trade law with a view to addressing the question: How can we make best use of the international trading system experience to aim at a global climate change agreement? The insightful book contributes to developing the architecture for a post- 2012 global climate agreement and, in doing so, seeks and proposes new approaches to climate change mitigation by linking it to the international trade system. The author suggests the adoption of a bottom-up approach to climate change negotiations by using the evolution of multilateral trade agreements as a model for reaching a global climate treaty. He discusses the innovative approach of inserting climate goals within regional trade agreements, given their proliferation – especially bilateral – in the international trading system. He explains the trade implications of climate change mitigation policies by analyzing a couple of areas where the international regimes for trade and climate change mitigation may potentially clash. Climate Change and International Trade will strongly appeal to undergraduate and graduate students of international and European trade law, international and European environmental law as well as social science academics. NGOs, think tanks, practitioners, researchers, and international organizations will also find plenty of valuable information in this timely resource.
The Oxford Handbook of International Climate Change Law by Cinnamon P. Carlarne,Kevin R. Gray,Richard Tarasofsky Pdf
Climate change presents one of the greatest challenges of our time, and has become one of the defining issues of the twenty-first century. The radical changes which both developed and developing countries will need to make, in economic and in legal terms, to respond to climate change are unprecedented. International law, including treaty regimes, institutions, and customary international law, needs to address the myriad challenges and consequences of climate change, including variations in the weather patterns, sea level rise, and the resulting migration of peoples. The Oxford Handbook of International Climate Change Law provides an unprecedented and authoritative overview of all aspects of international climate change law as it currently stands, with guidance for how it should develop in the future. Over forty leading scholars and practitioners set out a comprehensive understanding of the legal issues that surround this vitally important but still emerging area of international law. This book addresses the major legal dimensions of the problems caused by climate change: not only in the content and nature of the international legal frameworks, which need implementation at the national level, but also the development of carbon trading systems as a means of reducing the costs of meeting emission reduction targets. After an introduction to the field, the Handbook assesses the relevant institutions, the key applicable principles of international law, the international mitigation regime and its consequences, and climate change litigation, before providing perspectives focused upon specific countries or regions. The Handbook will be an invaluable resource for scholars, students, and practitioners of international climate change law. It provides readers with diverse perspectives, bringing together interpretations from different disciplines, countries, and cultures.
Frontiers in International Environmental Law: Oceans and Climate Challenges by Richard Barnes,Ronán Long Pdf
Frontiers in International Environmental Law is a collection of essays that showcases how law and legal scholarship can responded to challenges to our oceans and climate governance regimes.
China's Way to Carbon Emissions Reduction by Ying Shen Pdf
Now that the most recent scientific estimates have shown that China has become the world's largest source of greenhouse gas emissions, China's influence on the world's environment and sustainable development highlights the importance of tailoring Chinese climate change law to conform with the requirements of international conventions and agreements on climate change. This thorough analysis, based on an examination of climate status, legal background, and current regulatory systems in China, examines the potential role of different policy instruments in reducing carbon emissions in order to find an appropriate choice for China, and recommends approaches to key issues for relevant authorities. The author conducts a comprehensive and in-depth study on the three mainstream environmental policy instruments used to control carbon emissions – the cap-and-trade system, the carbon tax, and command-and- control regulations – in a Chinese context. She reviews China's current policies, and elucidates how the issues of climate change and global warming call for social, environmental, economic, and legal reforms in China, especially in the areas of administrative law and property rights law. Among the issues and topics covered are the following: - key issues on designing and implementing each of the three policy instruments; - the choice of regulatory instruments for carbon emissions reduction in a socialist market economy based on the discussion of market failure and government failure theories; - legal challenges from China's current administrative legislation and the definition of carbon emissions entitlements; - practical effect of China's climate change policy at the national, provincial, and local levels; - effectiveness of China's implementation of its international obligations; - lessons learned from schemes implemented in the United States and Australia; - comparison of China's seven regional pilot emissions trading scheme (ETS) programmes with the well-established EU ETS; - linkage between China's ETS and other ETSs from a global perspective; and - future direction of an emerging carbon market in China. The analysis assesses the critical costs and benefits of each approach in the context of selected case studies, taking legal literature in the field fully into account. Given that the Chinese government is taking steps to reduce emissions by altering energy production and usage and is signalling a willingness to make similar commitments in a multilateral treaty, it is very timely and important for lawmakers and scholars, within and outside China, to think about new and appropriate regulatory measures to respond to the crisis and plan for a sustainable future. This study provides not only a useful benchmark for both China and other countries in formulating initiatives on enhancing climate protection, but also details the global implications for governments and for international organizations concerned with the understanding between China and the rest of the world in the context of climate change mitigation.
Harnessing Foreign Investment to Promote Environmental Protection by Pierre-Marie Dupuy,Jorge E. Viñuales Pdf
Harnessing Foreign Investment to Promote Environmental Protection investigates the main challenges facing the implementation of environmental protection and the synergies between foreign investment and environmental protection. Adopting legal, economic and political perspectives, the contributing authors analyse the various incentives which encourage foreign investment into pro-environment projects (such as funds, project-finance, market mechanisms, payments-for-ecosystem services and insurance) and the safeguards against its potentially harmful effects (investment regulation, CSR and accountability mechanisms, contracts and codes of conduct).
The rise of new economic powers in Asia and Latin America has changed the size and the direction of cross-border investment flows. Emerging economies like China, Brazil and India have become major destinations of foreign direct investment within the past decade, and they are also taking on the role of investor themselves. The unprecedented shifts in global investment flows have revived the debate over the effects of foreign investment on growth, employment and income distribution. In this book, leading experts analyse the most important trends, from the increasingly active role emerging economies play as investors in Africa to the rising suspicion in the U.S. and Europe of Chinese takeovers. Global challenges like climate change and the ageing of societies will act as new drivers of foreign investment, reshaping the patterns of globalization once again.
Environmental and Energy Law by Karen Makuch,Ricardo Pereira Pdf
Despite bringing prosperity, industrialisation generally leads to increasing levels of pollution which has a detrimental impact on the environment. In response, legislation which seeks to control or prevent such impact has become common. Similarly, climate change and energy security have become major drivers for the regulatory regimes that have emerged in the energy field. Given the global or regional scope of many environmental problems, international cooperation is often necessary to ensure such legislation is effective. The EU and the UK have contributed to the development of the environmental and energy law regimes currently in force, spanning across international, transnational and national levels. At the same time, practical responses to environmental and energy problems have largely been the focus of engineers, scientists and other technical experts. Environmental & Energy Law attempts to bridge the knowledge gap between legal developments designed to achieve environmental and/or energy-related objectives and the practical, scientific and technical considerations applicable to the same environmental problems. In particular, it attempts to convey a broad range of topical issues in environmental and energy law, from climate and energy regulation, technology innovation and transfer, to pollution control, environmental governance and enforcement. In addition the book outlines key sector specific legal regimes (including water, waste and air quality management), focusing on issues or topics that are particularly relevant to both environmental and energy lawyers, and engineering, science and technology-oriented professionals and students. In this vein, the book guides the reader on some basic practical applications of the law within scientific, engineering and other practical settings. The book will be useful to all those working or studying in the environmental or energy arena, including law students, legal professionals, engineering and science students and professionals. By adopting a multi-disciplinary approach to environmental and energy law, the book embraces all readerships and helps to address the often thorny problem of communication between scientists, engineers, lawyers and policy-makers.
A Constitutional Order of States? by Anthony Arnull,Catherine Barnard,Michael Dougan,Eleanor Spaventa Pdf
This collection celebrates the career of Professor Alan Dashwood, a leading member of the generation of British academics who organised, explained and analysed what we now call European Union law for the benefit of lawyers trained in the common law tradition. It takes as its starting point Professor Dashwood's vivid description of the European Union as a 'constitutional order of states'. He intended that phrase to capture the unique character of the Union. On the one hand, it is a supranational order characterised by its own distinctive institutional dynamics and an unprecedented level of cohesion among, and penetration into, the national legal systems. On the other hand, it remains an organisation of derived powers, the Member States retaining their character as sovereign entities under international law. This theme permeates both the constitutional and the substantive law of the Union. Contributors to the collection include members of the judiciary and distinguished practitioners, officials and academics. They consider the foundations, strengths, implications and shortcomings of this conceptual framework in various fields of EU law and policy. The collection is an essential purchase for anyone interested in the constitutional framework of the contemporary European Union.
