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1

Linking emissions trading schemes. London: Earthscan, 2009.

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2

Machinek, Matthias. Linking of Emissions Trading Schemes. Wiesbaden: Springer Fachmedien Wiesbaden, 2022. http://dx.doi.org/10.1007/978-3-658-36667-4.

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Bogojević, Sanja. Emissions trading schemes: Markets, states and law. Oxford: Hart Publishing, 2013.

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Hewett, Chris. Emissions trading: Proposals for a UK emissions trading scheme. London: Institute for Public Policy Research, 2000.

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5

New Zealand. Parliament. Emissions Trading Scheme Review Committee. Review of the emissions trading scheme and related matters: Report of the Emissions Trading Scheme Review Committee. Wellington, N.Z.]: House of Representatives, 2009.

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New Zealand. Parliament. Emissions Trading Scheme Review Committee. Review of the emissions trading scheme and related matters: Report of the Emissions Trading Scheme Review Committee. [Wellington, N.Z.]: House of Representatives, 2009.

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7

1968-, Klingmüller Angela, Steppler Ulrich 1970-, European Parliament, European Parliament, and European Parliament, eds. EU emissions trading scheme and aviation. Utrecht: Eleven International Publishing, 2010.

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8

Ellerman, A. Denny, Barbara K. Buchner, and Carlo Carraro, eds. Allocation in the European Emissions Trading Scheme. Cambridge: Cambridge University Press, 2007. http://dx.doi.org/10.1017/cbo9780511493478.

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Ellerman, A. Denny. Pricing carbon: The European Union Emissions Trading Scheme. New York: Cambridge University Press, 2010.

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Ellerman, A. Denny. Pricing carbon: The European Union Emissions Trading Scheme. New York: Cambridge University Press, 2010.

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11

J, Convery Frank, ed. Pricing carbon: The European Union Emissions Trading Scheme. New York: Cambridge University Press, 2010.

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12

Tuerk, Andreas. Linking Emissions Trading Schemes. Taylor & Francis Group, 2016.

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Tuerk, Andreas. Linking Emissions Trading Schemes. Routledge, 2009. http://dx.doi.org/10.4324/9781849770118.

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14

Tuerk, Andreas. Linking Emissions Trading Schemes. Taylor & Francis Group, 2009.

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Tuerk, Andreas. Linking Emissions Trading Schemes. Taylor & Francis Group, 2009.

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Tuerk, Andreas. Linking Emissions Trading Schemes. Taylor & Francis Group, 2009.

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Tuerk, Andreas. Linking Emissions Trading Schemes. Taylor & Francis Group, 2009.

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Tuerk, Andreas. Linking Emissions Trading Schemes. Taylor & Francis Group, 2009.

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19

Tuerk, Andreas. Linking Emissions Trading Schemes. Taylor & Francis Group, 2009.

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20

Munro, James. Carbon Units and Emissions Trading Schemes. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198828709.003.0003.

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Before being able to correctly classify carbon units (the object of trade in emissions trading schemes) under international economic law, their inherent qualities and characteristics need to be understood. This requires a factual assessment of their qualities and characteristics, which will provide the evidence necessary to determine their proper legal classification under international economic law. In particular, Chapter 3 considers the historical and policy origins of emissions trading schemes and the key attributes and nature of carbon units, such as how they are created, what they represent, how they may be used, and how they derive value. The legal classification of carbon units under the different domestic jurisdictions is also surveyed.
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21

Munro, James. Emissions Trading Schemes under International Economic Law. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198828709.001.0001.

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This book assesses whether—and how—emissions trading schemes are subject to international economic law. Through an analysis of trade and investment treaties and related jurisprudence, it argues that the objects of trade in these schemes, namely carbon units (also known as emissions permits or carbon credits), are capable of being legally characterized as ‘goods’, ‘services’, ‘financial services’, and ‘investments’ under international economic law. The sui generis properties of carbon units—such as their intangibility, their degree of permanence, their relationship to an economic activity performed, and their use as a regulatory instrument—make this a particularly complex question. Having ascertained whether and how carbon units are regulated in this regard, this book undertakes a comparative analysis of numerous emissions trading schemes and uncovers a raft of design elements affecting trade and investment in carbon units that could be impugned under international economic law. In particular, it demonstrates how all of the major schemes—from the nascent schemes in China, South Korea, and Ontario to the more established schemes in the European Union, Switzerland, New Zealand, Norway, California, and Quebec—engage in violations of international economic law that are, in many cases, unlikely to be justified under environmental or other exceptions or exemptions. Not only do these conclusions have implications for the relationship between the international economic and international climate regimes but, more broadly, these conclusions interrogate the efficacy of international economic law for covering market-based mechanisms designed to manage environmental problems. They also provide guidance to policy-makers seeking to inoculate their emissions trading schemes from legal challenges under international trade and investment treaties.
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Munro, James. Emissions Trading Schemes under International Economic Law. Oxford University Press, 2018.

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23

Britain, Great. Greenhouse Gas Emissions Trading Scheme (Amendment) (Charging Schemes) Regulations 2012. Stationery Office, The, 2012.

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24

van Asselt, Harro. The Design and Implementation of Greenhouse Gas Emissions Trading. Edited by Kevin R. Gray, Richard Tarasofsky, and Cinnamon Carlarne. Oxford University Press, 2016. http://dx.doi.org/10.1093/law/9780199684601.003.0016.

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This chapter offers a cross-jurisdictional analysis of the design and implementation of mandatory emissions trading schemes. It traces the beginning of emissions trading schemes from the sulfur dioxide emissions trading scheme in the United States, which was implemented through the Clean Air Act Amendments of 1990. After initial experiments at a local and regional level, the United States launched the first large-scale, countrywide trading system. This program sought to address the acid rain problem by creating a trading regime for sulfur dioxide emissions. This was the birthplace of large-scale emissions trading systems and from this point onwards, emissions trading schemes began to spread across jurisdictions. The chapter describes how the EU’s speedy adoption of an emissions trading directive in 2003 could be seen as an instance of horizontal borrowing from the United States, spurred by the simple need to keep the costs of reducing emissions down.
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25

Mehling, Michael. Legal Frameworks for Linking National Emissions Trading Systems. Edited by Kevin R. Gray, Richard Tarasofsky, and Cinnamon Carlarne. Oxford University Press, 2016. http://dx.doi.org/10.1093/law/9780199684601.003.0013.

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This chapter discusses the linking of emissions trading regimes for climate change governance. It also assesses the legal frameworks for linking as the process assumes varying degrees of formality, with implications for the legal nature and the procedural requirements of adoption. Linkage results in an enlarged market, promising greater diversity of abatement costs and thus more efficient achievement of climate change mitigation objectives. Linkage is also credited with promoting liquidity and reduced price volatility in the carbon market, helping reduce the likelihood of manipulation and abuse. These results lead to operation in a multilayered framework of established rules, principles, and procedures constituting the legal order. Carbon markets are highly regulated, and this relevance of norms also extends to a linkage between such markets. The chapter analyses past and current trading schemes as a case study, such as the European Union Emission Trading Scheme, the biggest greenhouse gas emissions trading scheme.
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26

Munro, James. Applying International Economic Law to Emissions Trading Schemes. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198828709.003.0002.

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The process of interpreting the treaties of international economic law is a key aspect of the analysis that is undertaken in this book. Of particular importance is the potential relevance of the international climate regime to interpreting international economic law—a regime recently rejuvenated by the Paris Agreement, and in fulfilment of whose aims emissions trading schemes are adopted and maintained. Chapter 2 therefore sets out the methodology of the book—namely, interpreting and applying international economic law to emissions trading schemes—and assesses whether and how the international climate regime might play a role in that process.
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27

Elena de Lemos Pinto Aydos. Paying the Carbon Price: The Subsidisation of Heavy Polluters under Emissions Trading Schemes. Elgar Publishing Limited, Edward, 2017.

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Elena de Lemos Pinto Aydos. Paying the Carbon Price: The Subsidisation of Heavy Polluters under Emissions Trading Schemes. Elgar Publishing, Incorporated, Edward, 2017.

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29

Machinek, Matthias. Linking of Emissions Trading Schemes: Conditions for Solid International Cooperation to Mitigate Emissions. Springer Fachmedien Wiesbaden GmbH, 2022.

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30

Staff, Asian Development Bank. Emissions Trading Schemes and Their Linking: Challenges and Opportunities in Asia and the Pacific. Asian Development Bank Institute, 2016.

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31

A study of the introduction of emissions trading for mobile sources: Analysis of mobile sources emission reduction credits schemes. 2000.

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32

Munro, James. A Taxonomy of Prima Facie Violations of International Economic Law. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198828709.003.0008.

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Having determined that carbon units are, to varying extents, subject to international economic law, Chapter 8 assesses the consistency of emissions trading schemes and their rules affecting carbon units with that body of law. In particular, Chapter 8 identifies and evaluates the rules in emissions trading schemes affecting the trade, use, and value of carbon units that constitute prima facie violations of that body of law. It considers: (i) the differential treatment of carbon units that engages disciplines on non-discrimination; (ii) the quantitative restrictions on external carbon units that engage disciplines on market access; and (iii) the kinds of governmental interference in carbon markets that engage disciplines on investment. Chapter 8 thereby identifies and catalogues numerous prima facie breaches embedded in the rules of most emissions trading schemes.
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33

Munro, James. Conclusion. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198828709.003.0010.

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Chapter 10 summarizes the main conclusion of this book that the objects traded within emissions trading schemes—namely, carbon units—are subject to the disciplines of international economic law in a series of complex and asymmetrical ways. The significance of this conclusion is underlined by the volume and extent of prima facie inconsistencies exhibited by emissions trading schemes with international economic law and identified in this book. While the evidence available and justifications in respect of some of these inconsistencies suggests that they might be saved by certain public policy-related exceptions in international economic law, it is equally apparent that many would not be shielded. Chapter 10 also passes comment on the potential means by which jurisdictions might inoculate their emissions trading schemes from the reach of international economic law, such as by insulating schemes from external transactions, denuding carbon units of proprietary status, and framing international trade in carbon units as a matter of mutual recognition of respective jurisdictions’ technical regulations or standards under international economic law.
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34

Munro, James. Introduction. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198828709.003.0001.

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This book addresses whether and how emissions trading schemes to mitigate climate change are subject to the network of treaties comprising the international trade and investment regime, collectively referred to as international economic law. Chapter 1 introduces the broad structure and content of the book, which is divided into three principal parts. Part I, comprising Chapters 2 and 3, sets out the approach of the book, insofar as it involves initial process of treaty interpretation to determine the scope and content of relevant aspects of international economic law (including any relevant interaction with the international climate regime), followed by a subsequent process of applying the resulting interpretations to carbon units and the aspects of emissions trading schemes that affect their trade and investment in ways which attract the scrutiny of international economic law. Part II, covering Chapters 4–7, then seeks to ascertain whether carbon units are subject to international economic law by evaluating whether they qualify as ‘goods’/‘products’, ‘services’, ‘financial services’, and ‘investments’. Having determined that carbon units are, to varying extents, subject to international economic law, Part III (comprising Chapters 8 and 9) assesses the consistency of emissions trading schemes and their rules affecting carbon units with that body of law.
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35

Munro, James. Exceptions. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198828709.003.0009.

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Chapter 9 provides an overview of the availability and applicability of exceptions that could potentially save aspects of emissions trading schemes that otherwise violate international economic law. Drawing on the justifications set out in respect of those impugned aspects of emissions trading schemes in Chapter 8, Chapter 9 explains which of those justifications might be permissible under international economic law, and the kind of evidence that would be required to make out a successful defence. This chapter finds that justifications that are rationally connected to the goal of mitigating climate change or safeguarding financial markets, and which deploy the least trade-restrictive means possible, could form the basis of a defence in many instances. However, justifications that are grounded in other economic or social policy goals, or for which there is a less trade-restrictive means of achieving that end, will be less likely to save a measure that is otherwise a violation of international economic law.
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36

EU Emissions Trading Scheme. Taylor & Francis Group, 2017.

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37

EU Emissions Trading Scheme. Taylor & Francis Group, 2018.

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38

Michaelowa, Axel, Germany, and Sonja Butzengeiger. EU Emissions Trading Scheme. Taylor & Francis Group, 2018.

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39

Michaelowa, Axel, Germany, and Sonja Butzengeiger. EU Emissions Trading Scheme. Taylor & Francis Group, 2018.

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40

China’s Emissions Trading Scheme. OECD, 2020. http://dx.doi.org/10.1787/e0f664f3-en.

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41

Michaelowa, Axel, Germany, and Sonja Butzengeiger. EU Emissions Trading Scheme. Taylor & Francis Group, 2018.

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42

(Editor), Axel Michaelowa, Sonja Butzengeiger (Editor), and Michael Grubb (Editor), eds. The EU Emissions Trading Scheme (Climate Policy). Earthscan Publications Ltd., 2005.

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43

Ministry of Economic Affairs of the Netherlands., ed. Allocation of CO2 emission allowances: Distribution of emission allowances in a European emissions trading scheme. Netherlands: KPMG Sustainability and [Ecofys], 2002.

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44

Developing the EU Emissions Trading Scheme. Nordic Council of Ministers, 2008. http://dx.doi.org/10.6027/tn2007-611.

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45

Egenhofer, Christian. The Eu Co2 Emissions Trading Scheme: Taking Stock And Future Prospects. Centre for European Policy Studies, 2007.

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46

Britain, Great. Greenhouse Gas Emissions Trading Scheme Order 2020. Stationery Office, The, 2020.

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47

Britain, Great. Greenhouse Gas Emissions Trading Scheme Order 2020. Stationery Office, The, 2020.

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48

Great Britain: Parliament: House of Commons: European Standing Committee and David Taylor. Emissions Trading Scheme: Tuesday 27 March 2007. Stationery Office, The, 2007.

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49

Britain, Great. Greenhouse Gas Emissions Trading Scheme Regulations 2005. Stationery Office, The, 2005.

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50

Britain, Great. Greenhouse Gas Emissions Trading Scheme Regulations 2003. Stationery Office, The, 2004.

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