The European Emission Trading System and Its Followers

Given the rapid spread of ETSs in an increasing number of countries and the important role that they are likely to play for the success or failure of the environmental policy in the years to come, this book provides an interdisciplinary analysis of the EU ETS from both the legal and economic perspectives comparing it with the other main ETSs existing worldwide, in order to assess whether the EU ETS has truly represented a prototype for the other ETSs established around the world and to investigate the current perspectives for linking them in the future.Through the years, the EU ETS has progressively gained a paramount position within the EU environmental policy and climate change legislation and currently represents the most striking flagship in this sector, with more than 11.000 installations covered by the scheme. In parallel, the EU ETS has paved the way for the establishment of many other ETSs in several other jurisdictions. Such schemes are now recognized worldwide as the cornerstones of the climate change policy.

Adopts an interdisciplinary approach, providing both the economic and the juridical perspectives as a result of a joint research conducted by members of the interdisciplinary research group R4S (Regulation for Sustainability) of the University of Siena on the legal and economic features of the ETSs Presents a more updated discussion of the legal and economic literatures as compared to previous volumes on this issue, focusing on the new trends concerning the hot topic of linking ETSs and on the problems that seem to emerge at the horizon Provides a concise summary of cutting-edge research on ETSs in an accessible style avoiding as much as possible economic and legal technicalities, which makes it suitable for both practitioners and scholars Compares the features of the main existing ETSs and provides useful indications for policy-makers on how to improve existing ETSs and possibly link them in the near future Builds a bridge between theoretical issues and practical economic and legal problems that may arise when implementing an ETS in reality Includes supplementary material: sn.pub/extras

Inhalt
Preface.- Chapter 1. The EU ETS: The Pioneer. Main Purpose, Structure and Features.- Chapter 2. California, RGGI, Quebec: The Followers.- Chapter 3. Comparing the EU ETS with Its Followers.- Chapter 4. Linking Emission Trading Schemes.