Climate Change and European Emissions Trading Lessons for Theory and Practice

About this book

This timely book focuses on the EU-wide greenhouse gas emissions trading scheme for major industries. It combines legal and economic approaches and reviews the major revision of this scheme. In this book, a distinguished range of authors assess the experiences thus far and also consider future development from both theoretical and practical perspectives. They also discuss many design options, including auctioning, credit and trade, the inclusion of aviation emissions, and linking possibilities. Moreover, attention is paid to the role of legal principles, the role of case law, and to aspects of democratic accountability within an emissions trading scheme. Ways to avoid carbon leakage and the role of national climate policies are also discussed.

This book makes clear that the economic efficiency and effectiveness of an emissions trading scheme depend to a large extent on the specific legislative choices, and hence the legislative design of such a scheme deserves meticulous attention. Discussing legal and economic aspects of emissions trading, this book offers new insights to academics and policy makers both in the public and private sector. Those insights are not only relevant for understanding the past, but moreover for guiding the future design of emissions trading for greenhouse gases.

Contents

Contents:1. IntroductionMichael Faure and Marjan Peeters2. Legislative Choices and Legal Values: Considerations on the Further Design of the European Greenhouse Gas Emissions Trading Scheme from a Viewpoint of Democratic AccountabilityMarjan Peeters3. Too Much Harmonization? An Analysis of the Commission's Proposal to Amend the EU ETS from the Perspective of Legal PrinciplesJavier De Cendra De Larragan4. A"The Emissions Trading SchemeA" Case-Law: Some New Paths for a Better European Environmental ProtectionNicolas Van Aken 5. European Emissions Trading and the Polluter-Pays Principle: Assessing Grandfathering and Over-AllocationEdwin Woerdman, Stefano Clo and Alessandra Arcuri6. EU Greenhouse Gas Emissions Trading and Competition LawStefan Weishaar7. The Underestimated Possibility of ex post Adjustments: Some Lessons from the Initial Greenhouse Gas Emissions Trading SchemeChris Backes, Kurt Deketelaere, Marjan Peeters and Marijke Schurmans8. Economic Impacts of the EU ETS: Preliminary EvidenceOnno Kuik and Frans Oosterhuis9. Regional Regulatory Initiatives Addressing GHG Leakage in the USAErik B. Bluemel10. Domestic Initiatives in the UKKaren E. MacDonald and Zen Makuch11. Linking the EU ETS to Other Emissions Trading SchemesJanneke Bazelmans12. Expansion of the EU ETS: The Case of Emissions Trading for AviationGriedre Kaminskaite-Salters14. The European Emissions Trading System: Auctions and their ChallengesStefan Weishaar

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