The Brave New World of Carbon Trading

@article{Spash2009TheBN,
  title={The Brave New World of Carbon Trading},
  author={C. Spash},
  journal={New Political Economy},
  year={2009},
  volume={15},
  pages={169 - 195}
}
  • C. Spash
  • Published 2009
  • Economics
  • New Political Economy
Human-induced climate change has become a prominent political issue, at both national and international levels, leading to the search for regulatory ‘solutions’. Emissions trading has risen in popularity to become the most broadly favoured government strategy. Carbon permits have then quickly been developed as a serious financial instrument in markets turning over billions of dollars a year. In this article, I show how the reality of permit market operation is far removed from the assumptions… Expand
View on Taylor & Francis
mpra.ub.uni-muenchen.de
174 Citations
Highly Influential Citations
11
Background Citations
77
Methods Citations
2

174 Citations

Citation Type

Citation Type

Ten reasons why carbon markets will not bring about radical emissions reduction
Almost two decades since the Kyoto Protocol was adopted, global greenhouse gas emissions are still rising rapidly. We argue that the global climate policy focus on carbon markets has played a… Expand
Climate Change, Carbon Trading and Societal Self-Defence
Markets, especially those for ‘fictitious’ commodities, are not the simple result of the gradual extension of exchange relations but social and political constructs. This paper discusses the… Expand
Trading Carbon: Offsets, Human Rights, and Environmental Regulation
By July 2014, the United Nations Clean Development Mechanism (CDM) had registered over 8,500 projects, issuing 1.4 billion carbon credits known as Certified Emission Reductions (CERs), with each CER… Expand
Diminishing Returns: Carbon Market Crisis and the Future of Market-Dependent Climate Change Finance
The current and future costs of meeting climate change mitigation needs in the global South vastly exceed levels of available funding from public sources in the North. As a possible solution to this… Expand
The hidden costs of carbon commodification: emissions trading, political legitimacy and procedural justice
A growing body of academic literature is devoted to the normative evaluation of rival governance architectures and policy mechanisms designed to mitigate the risks associated with global climate… Expand
Evolution of the New Zealand Voluntary Carbon Market: An Analysis of CarboNZero Client Disclosures
Abstract Climate change has the potential to dramatically change the world as we know, both in terms of the environment and the way in which societies operate. Public policy responses to climate… Expand
Carbon Pricing in Climate Policy: Seven Reasons, Complementary Instruments, and Political Economy Considerations
Carbon pricing is a recurrent theme in debates on climate policy. Discarded at the 2009 COP in Copenhagen, it remained part of deliberations for a climate agreement in subsequent years. As there is… Expand
Carbon pricing in climate policy
Carbon pricing is a recurrent theme in debates on climate policy. Discarded at the 2009 COP in Copenhagen, it remained part of deliberations for a climate agreement in subsequent years. As there is… Expand
Clean energy policy: Taxing carbon and the illusion of the equity objective
The Australian government has passed legislation, the Clean Energy Future Policy, establishing a carbon-emission pricing scheme. While the scheme is represented as the most efficient and cost… Expand
Technically political: The post-politics(?) of the New Zealand Emissions Trading Scheme
Abstract Globally, the creation and implementation of climate change policies continues to be contested amongst politicians, international institutions, and civil society. Carbon markets, designed to… Expand
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 77 REFERENCES
The EU as a frontrunner on greenhouse gas emissions trading: how did it happen and will the EU succeed?
Abstract The objective of this paper is first to provide empirical evidence of what can be seen as a rather remarkable change in EU's position on the use of greenhouse gas (GHG) emissions trading… Expand
The Making of the 2003 EU Emissions Trading Directive: An Ultra-Quick Process due to Entrepreneurial Proficiency?
The EU emissions trading scheme has been characterized as one of the most farreaching and radical environmental policies for many years, and the new grand policy experiment. Given the EU's earlier… Expand
The EU as a frontrunner on greenhouse gas emissions trading: how did it happen and will the EU succeed?
The objective of this paper is first to provide empirical evidence of what can be seen as a rather remarkable change in EU's position on the use of greenhouse gas (GHG) emissions trading (ET) in… Expand
Allocation and competitiveness in the EU emissions trading scheme: policy overview
Abstract The European emissions trading scheme (EU ETS) has an efficient and effective market design that risks being undermined by three interrelated problems: the approach to allocation; the… Expand
The economics of climate change impacts a la Stern: Novel and nuanced or rhetorically restricted?
Abstract The Stern report conducts an estimation of Greenhouse Gas control costs weighed against the benefits of avoiding damages at the global scale. As I show, Stern and colleagues are aware of the… Expand
Some design lessons from market-based greenhouse gas regulation in the restructured Australian electricity industry
Abstract There is growing worldwide interest in the use of market-based policy instruments for climate change regulation in the electricity sector. These mechanisms would seem to offer some… Expand
The governance challenge for implementing effective market-based climate policies: A case study of The New South Wales Greenhouse Gas Reduction Scheme
The New South Wales (NSW) Greenhouse Gas Reduction Scheme (GGAS) in Australia is a baseline and credit emissions trading scheme with the stated aim of reducing the per-capita greenhouse emissions… Expand
Crying No Wolf: Why Economists Don't Worry about Climate Change, andShould
The economic literature on climate change implies that there is no urgent need for serious climate policy (Hamaide and Boland, 2000; Nordhaus et al., various; Chakravorty et al., 1997; Manne and… Expand
Double CO2 and beyond: benefits, costs and compensation
Abstract Economic decisions over what action, if any, to take concerning the greenhouse effect tend to revolve around the social discount rate. Implicitly the debate concerns how to attribute… Expand
Implementing EU emissions trading: success or failure?
This article assesses and explains the implementation of the EU emissions trading scheme (EU ETS). It argues that implementation in terms of ambitiousness has been only moderately successful so far,… Expand
...
1
2
3
4
5
...