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A critical issue in dealing with climate change is deciding who has
a right to emit carbon dioxide. Originally published in 2007,
Allocation in the European Emissions Trading Scheme provided the
first in-depth description and analysis of the process by which
rights to emit carbon dioxide were created and distributed in the
European Union. This was the world's first large-scale experiment
with an emission trading system for carbon dioxide and was likely
to be copied by others if there was to be a global regime for
limiting greenhouse gas emissions. The book comprises contributions
from those responsible for putting the allocation into practice in
ten representative member states and at the European Commission.
The problems encountered in this process, the solutions found, and
the choices they made, will be of interest to all who are concerned
with climate policy and the use of emissions trading to combat
climate change.
The European Union's Emissions Trading Scheme (EU ETS) is the
world's largest market for carbon and the most significant
multinational initiative ever taken to mobilize markets to protect
the environment. It will be an important influence on the
development and implementation of trading schemes in the US, Japan,
and elsewhere. However, as is true of any pioneering public policy
experiment, this scheme has generated much controversy. Pricing
Carbon provides the first detailed description and analysis of the
EU ETS, focusing on the first 'trial' period of the scheme
(2005-7). Written by an international team of experts, it allows
readers to get behind the headlines and come to a better
understanding of what was done and what happened based on a
dispassionate, empirically based review of the evidence. This book
should be read by anyone who wants to know what happens when
emissions are capped, traded, and priced.
A critical issue in dealing with climate change is deciding who has
a right to emit carbon dioxide. Allocation in the European
Emissions Trading Scheme provided the first in-depth description
and analysis of the process by which rights to emit carbon dioxide
were created and distributed in the European Union. This was the
world's first large-scale experiment with an emission trading
system for carbon dioxide and was likely to be copied by others if
there was to be a global regime for limiting greenhouse gas
emissions. The book comprises contributions from those responsible
for putting the allocation into practice in ten representative
member states and at the European Commission. The problems
encountered in this process, the solutions found, and the choices
they made, will be of interest to all who are concerned with
climate policy and the use of emissions trading to combat climate
change.
A comprehensive description and evaluation of the first three years
of the U.S. Acid Rain Program. This environmental control program
is the world's first large-scale use of a tradeable emission permit
system for achieving environmental goals. The book analyzes the
behavior and performance of the market for emissions permits, known
as allowances, and quantifies emission reductions, compliance
costs, and cost savings associated with the trading program. The
book also includes chapters on the historical context in which this
pioneering program developed and the political economy of allowance
allocations. Finally, the book discusses the program's successes,
its weaknesses, and the lesson learned regarding application of the
emissions-trading approach to controlling other types of emissions,
including greenhouse gases. The volume is an indispensable addition
to the library of all interested in the application of marker
principles for meeting environmental goals.
Markets for Clean Air provides a comprehensive, in-depth description and evaluation of the first three years' experience with the U.S. Acid Rain Program. This environmental control program is the world's first large-scale use of a tradable emission permit system for achieving environmental goals. The book analyzes the behavior and performance of the market for emissions permits, called allowances in the Acid Rain Program, and quantifies emission reductions, compliance costs, and cost savings associated with the trading program. The book also includes chapters on the historical context in which this pioneering program developed and the political economy of allowance allocations.
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