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Governing Carbon Markets with Distributed Ledger Technology
"Introduction: Overview of the issues explored in this Book The global climate crisis is one of the most significant issues of our times. Although climate change itself is not a novel phenomenon, the rate at which the Earth's temperature is changing is unprecedented. This is in large part due to anthropogenic causes - most notably elevated carbon dioxide (CO2) emissions, among other greenhouse gases (GHG)2. To limit and ultimately reverse the impacts of anthropogenic climate change, immediate action is essential. At the international level, the most recent step forward is the Paris Agreement (PA),3 an international and legally binding treaty that has been ratified by 189 signatories,4 and wa...
Climate Change and the Law
Climate Change and the Law is the first scholarly effort to systematically address doctrinal issues related to climate law as an emergent legal discipline. It assembles some of the most recognized experts in the field to identify relevant trends and common themes from a variety of geographic and professional perspectives. In a remarkably short time span, climate change has become deeply embedded in important areas of the law. As a global challenge calling for collective action, climate change has elicited substantial rulemaking at the international plane, percolating through the broader legal system to the regional, national and local levels. More than other areas of law, the normative and p...
International Climate Change Law and State Compliance
A solution to the problem of climate change requires close international cooperation and difficult reforms involving all states. Law has a clear role to play in that solution. What is not so clear is the role that law has played to date as a constraining factor on state conduct. International Climate Change Law and State Compliance is an unprecedented treatment of the nature of climate change law and the compliance of states with that law. The book argues that the international climate change regime, in the twenty or so years it has been in existence, has developed certain normative rules of law, binding on states. State conduct under these rules is characterized by generally high compliance...
The Carbon Market Challenge
Carbon markets – both emission trading systems and baseline and credit systems – are an increasingly common policy instrument being introduced to address climate change mitigation. However, their design is crucial to ensure that they deliver cost-effective emission reductions while maintaining environmental integrity. This Element puts together a comprehensive, principle-based overview of the risks and abuses to environmental integrity and cost effectiveness that have emerged for carbon markets at all jurisdictional levels around the world, provides concrete examples, and offers effective policy and governance solutions to overcome such risks. This title is also available as Open Access on Cambridge Core.
The Green Market Transition
The Paris Agreement’s key objective is the strengthening of the global response to climate change by transitioning the world to an increasingly green economy. In this book, environmental tax and climate law experts examine carbon taxes energy subsidies, and support schemes for carbon and energy policies. Chapters reflect on the underlying policy dynamics and the constraints of various fiscal measures, and consider the harmonisation of smart instrument mixes.
Bridging the Divide in Global Climate Policy
While climate change is a global challenge facing all humankind, every attempt to negotiate a common response has been fraught with division - a rift born out of the widely divergent interests of nation states and regions engaged in multilateral diplomacy. Still, as our understanding of the climate threat improves and lends substance to an increasingly urgent call for action, traditional dividing lines are beginning to shift; in many areas, formerly entrenched positions are giving way to a discussion about compromise. Yet even so, the road to an agreed solution will be long and filled with obstacles. Offering new perspectives on this evolutionary process, the essays collected in this volume describe the current state of negotiations and highlight the political realities guiding central actors in the diplomatic arena. More importantly, their value goes beyond providing an updated assessment of the present debate to helping understand the dynamics that have shaped past and existing divisions.
Governing Carbon Markets with Distributed Ledger Technology
Carbon markets involve complex governance challenges, such as ensuring transparency of emissions, facilitating as well as recording transactions, overseeing market activity and preventing abuse. Conventionally, these have been addressed with a combination of regulatory, procedural and technical structures that impose significant burdens on market participants and administrators while remaining vulnerable to system shocks and illicit practices. Distributed Ledger Technology (DLT) has the potential to address these problems. This volume offers the first book-length exploration of how carbon markets can be governed using DLT, offering conceptual and theoretical analysis, practical case studies, and a roadmap for implementation of a DLT-based architecture in major existing and emerging carbon markets. It surveys existing expertise on distributed ledger technology, provides progress updates from industry professionals, and shows how this technology could offer a cost-effective and sustainable solution to double-counting and other governance concerns identified as major challenges in the implementation of carbon markets.
Global Animal Law from the Margins
This book critically engages the emerging field of global animal law from the perspective of an intersectional ethical framework. Reconceptualising global animal law, this book argues that global animal law overrepresents views from the west as it does not sufficiently engage views from the Global South, as well as from Indigenous and other marginalised communities. Tracing this imbalance to the early development of animal law’s reaction to issues of international trade, the book elicits the anthropocentrism and colonialism that underpin this bias. In response, the book outlines a new, intersectional, second wave of animal ethics. Incorporating marginalised viewpoints, it elevates the field beyond the dominant concern with animal welfare and rights. And, drawing on aspects of decolonial thought, earth jurisprudence, intersectionality theory and posthumanism, it offers a fundamental rethinking of the very basis of global animal law. The book's critical, yet practical, new approach to global animal law will appeal to animal law and environmental law experts, legal theorists, and those working in the areas of animal studies and ecology.
Linking Emissions Trading Schemes
A growing number of GHG emissions trading schemes are being implemented at regional or national levels. However, even as the number of different schemes grows, few linkages exist between them. Major cap-and-trade proposals are currently at important stages in their development, especially in the United States, Japan and Australia, some of which explicitly emphasize the aim of linking with other schemes. One of the strategic goals of European climate policy is linking the EU ETS with other comparable schemes. The research presented in this volume is on actual economic, political and institutional constraints and implications. It examines the role of linking trading schemes for the development...
