Since 2005 the carbon market has grown to a value of nearly $100 billion per annum. This new 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.
Thursday, October 22, 2009
Freestone & Streck: Legal Aspects of Carbon Trading
David Freestone (George Washington Univ. - Law) & Charlotte Streck (Climate Focus) have published Legal Aspects of Carbon Trading: Kyoto, Copenhagen, and beyond (Oxford Univ. Press 2009). Here's the abstract: