Table of Contents

Climate Change and European Emissions Trading

Climate Change and European Emissions Trading

Lessons for Theory and Practice

New Horizons in Environmental and Energy Law series

Edited by Michael Faure and Marjan Peeters

This timely book focuses on the EU-wide greenhouse gas emissions trading scheme for major sources. It combines legal and economic approaches and reviews the major revision of this scheme. 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.

Chapter 9: Regional Regulatory Initiatives Addressing GHG Leakage in the USA

Erik B. Bluemel

Subjects: environment, environmental law, law - academic, environmental law

Extract

Erik B. Bluemel* 1. INTRODUCTION While many may view the United States of America’s refusal to participate in the Kyoto Protocol as a strategic effort to undermine mandatory greenhouse gas (GHG) reduction targets – a view not without some merit, regional efforts to combat climate change within the United States can provide valuable information about the design of effective regional GHG emissions trading schemes outside the United States. Indeed, despite the United States’ reluctance to join the Kyoto Protocol and accept mandatory national GHG emissions limits, a variety of states and localities have taken it upon themselves to impose mandatory GHG caps in their jurisdictions. These regional regimes are sprouting up with the explicit goal of inducing action by the national government,1 and they appear to have some effectiveness in promoting industry support for a national program. Congress is now seriously considering legislation to develop a nationwide GHG cap-and-trade system similar in nature to the Kyoto Protocol and the regional regimes developed by the various states and localities.2 * Assistant Professor of Law, University of Denver Sturm College of Law; Member, 2005–present, Commission on Environmental Law, IUCN-World Conservation Union. This Chapter reflects the views of the author only and does not necessarily reflect the views of any of the author’s institutional affiliates, their composite organs, or their staffs. The author can be reached at ebluemel@law.do.edu. 1 See, e.g., RGGI (20/12/2005), Memorandum of Understanding, art. 6(C) (hereinafter, ‘RGGI MOU’); California Health & Safety Code § 38501(d). 2 Parker and Yacobucci...

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