Legal Aspects of Carbon Trading: Kyoto, Copenhagen, and beyond
David Freestone and Charlotte Streck
Abstract
Since 2005, the carbon market has grown to a value of nearly $100 billion per annum. This book examines all the main legal and policy issues which are raised by emissions trading and carbon finance. It covers not only the Kyoto Flexibility Mechanisms but also the regional emission trading scheme in the EU and emerging schemes in the US, Australia, and New Zealand. The Parties to the 1992 UN Framework Convention are in the process of negotiating a successor regime to the 1997 Kyoto Protocol whose first commitment period ends in 2012. As scientists predict that the threat of dangerous climate ch ... More
Since 2005, the carbon market has grown to a value of nearly $100 billion per annum. This book examines all the main legal and policy issues which are raised by emissions trading and carbon finance. It covers not only the Kyoto Flexibility Mechanisms but also the regional emission trading scheme in the EU and emerging schemes in the US, Australia, and New Zealand. The Parties to the 1992 UN Framework Convention are in the process of negotiating a successor regime to the 1997 Kyoto Protocol whose first commitment period ends in 2012. As scientists predict that the threat of dangerous climate change requires much more radical mitigation actions, the negotiations aim for a more comprehensive and wide ranging agreement which includes new players — such as the US — as well as taking account of new sources (such as aircraft emissions) and new mechanisms such as the creation of incentives for reducing emissions from deforestation and forest degradation.
Keywords:
carbon market,
emissions trading,
carbon finance,
Kyoto Flexibility Mechanisms,
UN Framework Convention,
Kyoto Protocol,
climate change,
aircraft emissions,
deforestation
Bibliographic Information
Print publication date: 2009 |
Print ISBN-13: 9780199565931 |
Published to Oxford Scholarship Online: February 2010 |
DOI:10.1093/acprof:oso/9780199565931.001.0001 |
Authors
Affiliations are at time of print publication.
David Freestone, editor
Lobingier Visiting Professor of Comparative Law and Jurisprudence, George Washington University Law School, Washington DC
Charlotte Streck, editor
Founding partner and director of Climate Focus
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