TITLE

Legal Protection and (the Lack of) Private Party Remedies in International Carbon Emission Reduction Projects

AUTHOR(S)
Simonetti, Sander
PUB. DATE
May 2010
SOURCE
Journal of Energy & Natural Resources Law;May2010, Vol. 28 Issue 2, p171
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The Kyoto Protocol has not only created carbon emission reduction obligations for industrialised countries, but also opportunities for the private sector to participate in its 'flexible mechanisms'. Although the outcome of the Copenhagen Climate Change Conference may not have been what the carbon market was hoping for, market parties are still hopeful that a successor treaty to the Kyoto Protocol will include similar market mechanisms. One of the current Kyoto mechanisms is 'joint implementation', which allows private legal entities to engage in international emission reduction projects that generate tradable emission rights. Private parties can act as verifiers of the emission reductions achieved by such projects, or as buyers of the generated emission rights (such buyers may include utilities, energy and mining companies, as well as banks, traders and private investors). During the joint implementation project cycle, these private parties can become involved in several types of disputes with various counte parties. This article explores the legal remedies available to such private parties. Long-term private sector investment and contribution to the objectives of the Kyoto Protocol are more likely to occur in a stable regulatory environment, which requires a certain degree of legal protection, including proper access to justice in case disputes arise. This should also be taken into account in the post-Kyoto legal framework.
ACCESSION #
55432261

 

Related Articles

  • Emissions Trading and the Potential Benefits for ASEAN: Exploring the Possibilities for Brunei Darussalam. Tabrani, Andi; Lawrey, Roger Neil; Pillarisetti, Janaki Ram // Journal of Sustainable Development;Nov2012, Vol. 5 Issue 11, p46 

    This paper reviews international agreements related to carbon trading, and examines ASEAN countries' participation in the Clean Development Mechanism (CDM). It presents information on the forest and energy sectors in Brunei and explores the potential for Brunei's participation in carbon trading....

  • Clean-energy credits tarnished. Schiermeier, Quirin // Nature;9/29/2011, Vol. 477 Issue 7366, p517 

    The article focuses on the flaws revealed by the WikiLeaks website about Clean Development Mechanism (CDM), which was established under the Kyoto Protocol, for rich countries to offset their carbon emissions. It is leaked that most of the CDM projects in India fail to reduce emissions. Director...

  • A US first in carbon offset.  // Sustain' Magazine;2009, Vol. 10 Issue 1, p15 

    The article reports that U.S.-based World Resources Institute (WRI) is to purchase Certified Emission Reductions (CERs) from the global compliance market established by the Kyoto Protocol. CERs are used by countries to meet its obligations under the said protocol, which are generally much more...

  • Editorial: Can carbon capitalism save the world?  // New Scientist;4/19/2008, Vol. 198 Issue 2652, p3 

    The author reflects on carbon trading that is made possible by the Kyoto protocol to reduce their emissions of greenhouse gases from 2008-2012. The author also gives emphasis on the essence of Clean Development Mechanism (CDM) which allows western firms that hope to exceed their emissions...

  • DYNAMIC BARGAINING AND CDM LOW HANGING FRUITS WITH QUADRATIC EMISSIONS ABATEMENT COST. AKITA, Jiro; IMAI, Haruo; NIIZAWA, Hidenori // Proceedings of the International Multidisciplinary Scientific Ge;2012, Vol. 4, p897 

    A two stage dynamic model of climate change negotiation featuring a developed and a developing country is constructed. Motivated by Copenhagen COP of UNFCCC, we postulate that countries have agreed on a long-run emission abatement target, but they are yet to negotiate the specific terms of...

  • Copenhagen will not deliver carbon price certainty for utilities.  // MarketWatch: Energy;Jan2010, Vol. 9 Issue 1, p11 

    The article reports that Copenhagen Climate Change Conference will not deliver caps and floors for the carbon price. It is stated that Europe will try to retain and develop the Kyoto Protocol and the EU Emissions Trading Scheme (EU ETS) free market mechanism to achieve its emissions reduction...

  • A Review on Low Carbon Emission - The Global Consensus. Sukla, Pradeep; Sharma, Karun Dev // Indian Journal of Public Health Research & Development;Oct-Dec2013, Vol. 4 Issue 4, p153 

    The world has seen leaps of development in the last century, the cost of which may be considered in the form of environmental degradation, increase in the level of Green house Gases (GHGs), deforestation and global warming. Carbon footprint, carbon offset carbon credits / permits, emissions...

  • The Action Network of Clean Development Mechanism (CDM) in China. Liguang Liu // Advanced Materials Research;2014, Issue 933, p892 

    Clean Development Mechanism (CDM) is a project-based climate mitigation scheme under the Kyoto Protocol. Since 2007, China has become the largest CDM credit supplier in the world. With the promotion of CDM projects, a flexible, consensus-seeking network that involves a variety of public and...

  • The Oxygen Trade: Leaving Hondurans Gasping for Air. Wong, Rosie // Foreign Policy in Focus;6/18/2013, p2 

    The article discusses the issue of carbon trading in Honduras. Carbon trading was created to address global climate change under the Kyoto Protocol. According to the author, it does not fulfill its goal of cutting global emissions since the price of carbon remains too cheap. Particular focus is...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics