The Brave New World of Carbon Trading

  title={The Brave New World of Carbon Trading},
  author={Clive L. Spash},
  journal={New Political Economy},
  pages={169 - 195}
  • C. Spash
  • Published 1 December 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… 
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