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Emissions Trading for Climate Policy: US and European Perspectives

Edited By: Hans Hansjürgens

Cambridge University Press

Hardback | Jul 2005 | #155410 | ISBN: 0521848725
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About this book

The 1997 Kyoto Conference introduced emissions trading as a new policy instrument for climate protection. Bringing together scholars in the fields of economics, political science and law, this book provides a description, analysis and evaluation of different aspects of emissions trading as an instrument to control greenhouse gases. The authors analyse theoretical aspects of regulatory instruments for climate policy, provide an overview of US experience with market-based instruments, draw lessons from existing trading schemes for the control of greenhouse gases, and discuss options for emissions trading in climate policy. They also highlight the background of climate policy and instrument choice in the US and Europe and of the emerging new systems in Europe, particularly the new EU's directive for a CO2 emissions trading system.

'Readers who wish to become current on emissions trading, but are overwhelmed by the exploding literature, can find a solution in this book. Bringing together leading experts from both sides of the Atlantic, this insightful book summarizes what theory, empirical research and practical experience has taught us about this increasingly popular environmental policy.' Tom Tietenberg, Mitchell Family Professor of Economics, Colby College 'Over the past two decades, emissions trading has evolved from a theoretical concept described in academic journals to become one of the most critical elements of climate policy. This timely book provides insightful analysis from some of the most prominent emissions trading experts on both sides of the Atlantic. It is a valuable resource for anyone who wishes to understand the state-of-the art of this increasingly important environmental policy instrument.' Joseph Kruger, Visiting Scholar, Resources for the Future 'Emissions trading is central to the global efforts to control climate change. This excellent collection of essays provides an up-to-date account of the economic, political and legal aspects of this instrument and helpfully combines European and US perspectives. It will be of great value to academic researchers in the field and to those more directly involved in practical implementation.' Steve Sorrell, Research Fellow, University of Sussex 'This volume provides a complete course for the reader who wants to come up to speed on emission trading, thoroughly addressing the main issues - conceptual, economic, political and legal - and providing a very useful survey of experience and lessons learned.' Dallas Burtraw, Senior Fellow, Resources for the Future


Figures and tables; Preface and acknowledgement; Contributing authors; 1. Introduction Bernd Hansjurgens; Part I. Regulatory Instruments for Climate Policy - Theoretical Aspects: 2. Designing instruments for climate policy Thomas Sterner and Henrik Hammar; 3. Technical innovation and design choices for emissions trading and other climate policies Carolyn Fischer; 4. A note on incentives to adopt new abatement technology and US-European regulatory cultures Reimund Schwarze; Part II. The US Approach to Pollution Control - Lessons for Climate Policy: 5. Implications of the American experience with market-based environmental strategies for future climate policy Robert N. Stavins; 6. US experience with emissions trading: lessons for CO2 emissions trading A. Denny Ellerman; 7. Climate change policy from the US and the role of intensity targets Charles D. Kolstad; 8. Design issues of a domestic carbon emissions trading in the US Richard D. Morgenstern; Part III. European Policies to Control Greenhouse Gases - The EU Directorate on Emissions Trading: 9. Regulation or coordination: European climate policy between Scylla and Charybdis Mikael Skou Andersen; 10. Lobbyism and CO2 trade in the EU Gert Tinggaard Svendsen; 11. Greenhouse gas emissions trading in the European Union: building the world's largest cap-and-trade scheme Peter Zapfel; 12. Legal aspects of the European emissions trading scheme Michael Rodi; 13. Emission trading schemes in Europe: linking the EU emissions trading with national programs Sven Bode; 14. Concluding observations Bernd Hansjurgens; Index.

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Bernd Hansjurgens is Professor of Economics at Martin Luther University Halle-Wittenberg. He is also the Head of the Department of Economics, UFZ Centre of Environmental Research Leipzig-Halle.

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