This book is the first comprehensive analysis of the regulatory framework for carbon trading in Europe. It brings together in one volume the first full legal analysis of EU and UK law relating to the EU emissions trading scheme, and all the legislative materials necessary to understand this innovative and complex area of environmental law.
It also includes the first published legal account of the UK’s ground-breaking use of market-based instruments to address climate change: the Climate Change Agreements and the UK Emissions Trading Scheme.
There has been an exponential growth in international interest and investment in carbon finance since the launch of the EU emissions trading scheme in 2005. In 2005 alone, the value of the European carbon market is estimated to have been more than €5bn. With emissions trading schemes under development across the world, the EU scheme will act not only as the prototype for the design of other schemes but is also emerging as the centre of the global carbon market.
This book provides both practitioners and policy makers with the comprehensive materials necessary to gain a full understanding of the EU scheme and related UK domestic instruments. It is an essential companion for any professional advising on carbon trading in the UK or EU and a user-friendly reference tool for lawyers, carbon traders, and those working in regulated industries and financial institutions with an interest in carbon finance.
It also provides an invaluable set of materials and lessons learned for policy makers and industry in jurisdictions where carbon trading are under development and for those with an interest in the use of market-based mechanisms to address other environmental problems.
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