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The Instrumentalization of Property - Legal Interests in the EU Emissions Trading System

Author
Manea S.
Date
2014
Source
IUCN (ID: MON-094163)
Publisher | Place of publication
Kluwer Law International | The Hague, The Netherlands
ISBN
9789041154200
Document type
Monography/book
Language
English
Country/Territory
European Union
Subject
Air & atmosphere
Keyword
Emissions trading Emissions
Abstract

As a system of regulation which employs tradable instruments to achieve public policy goals, emissions trading has emerged as a persuasive solution to the global problem of climate change. However, significant contention exists in respect of the use of tradable permit regimes to counteract air pollution - for example, that they do not reduce emissions as such, that they stifle innovation, and that they disadvantage developing countries. Moreover, many highlight the failure of such regimes to deliver significant levels of emissions abatement that can make a real difference to climate change policy. This book examines the nature of the legal interests in emissions allowances (called emissions entitlements), focusing on the 'property' nature of the tradable instruments created by the European Union Emissions Trading System (EU ETS) with the goals of achieving cost-effective emissions reductions to levels scientifically required to tackle climate change and supporting the Union-wide transition to a low-carbon economy. The author presents a rigorous analytical framework, and introduces a new category of instrumental property which encompasses entitlements created to achieve regulatory goals.

Website
lrus.wolterskluwer.com