Lessons for Theory and Practice
- New Horizons in Environmental and Energy Law series
Edited by Michael Faure and Marjan Peeters
Chapter 11: Linking the EU ETS to Other Emissions Trading Schemes
Janneke Bazelmans1 1. INTRODUCTION Emissions trading delivers a crucial tool for combating climate change. As a general trend, a number of domestic emissions trading schemes (dETSs) are emerging, each with their own characteristics. Efficiency would increase if these dETSs were linked to each other. The European Union’s scheme (EU ETS)2 offers the largest, broadest building block for developing a global network of systems. The EU ETS is already linked to domestic emissions trading systems in Norway, Iceland and Liechtenstein.3 In addition, the current EU Trading Directive paves the way for linking the EU ETS to several dETSs in Kyoto Parties as well as in non-Kyoto countries. Such links can be created directly between different dETSs and indirectly through offsets, such as the Clean Development Mechanism (CDM) and Joint Implementation (JI).4 In October 2007, the International Carbon Action Partnership (ICAP) was launched.5 This consists of a coalition of European countries, some USA states,6 Canadian 1 External PhD candidate, Centre for Environmental Law, University of Amsterdam. Janneke’s PhD is focused on the future of the Clean Development Mechanism beyond 2012. This Chapter was finalized on 28 February 2008. 2 Based on Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community (EU Trading Directive). 3 EEA agreement Decision of the EEA Joint Committee, no 146/2007 of 26 October 2007, amending Annex XX (Environment) to the EEA Agreement. This Decision was adopted by the...
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