Paying the Carbon Price

重污染企业的补贴s under Emissions Trading Schemes

New Horizons in Environmental and Energy Law series

Elena de Lemos Pinto Aydos, Senior Lecturer, Newcastle Law School, University of Newcastle, Australia

Paying the Carbon Price analyses the practice of freely allocating permits in Emissions Trading Schemes (ETSs) and demonstrates how many heavy polluters participating in ETSs are not yet paying the full price of carbon. This innovative book provides a framework to assist policymakers in the design of transitional assistance measures that are both legally robust and will support the effectiveness of the ETSs whilst limiting negative impacts on international trade.

‘To summarise, this book provides valuable economic and legal information for any scholar or policymaker engaged in emissions trading mechanism design, and the associated rules of international trade. The information and research is expertly communicated with both sufficient detail but in language capable of widespread understanding. This is a valuable addition to the literature on emissions trading policy and international trade law that will be a key resource in both academic and pragmatic debates about climate change and the entities who should rightly bear the burden of the cost of carbon.’
– Felicity Deane, Carbon & Climate Law Review

‘Dr. Elena de Lemos Pinto Aydos’ comprehensive account of past and present emissions trading schemes suggests that free licenses to pollute in reality is a subsidy conferring windfall profits to a small number of energy-intensive companies. Her elaborate legal analysis convincingly shows that under the rules of the World Trade Organization carbon emission trading benefits will be deemed actionable and thus should require advance notification, as countervailing duties could be justified. With trade protectionism concerns looming in the background this is an extremely timely book to inform carbon market observers and policy makers.’
– Mikael Skou Andersen, Aarhus University, Denmark

‘This book is an important contribution to understanding the relation between the oftentimes overestimated phenomenon of carbon leakage and the resulting, frequently unjustified, free allocation to heavy polluters. The volume excels in applying an interdisciplinary law-and-economics approach in a comprehensive analysis of three major carbon markets. It is a timely addition to the literature with obvious relevance beyond the cases; a “must read” for all scholars and practitioners interested in an efficient, effective, and fair climate policy.’
– Sven Rudolph, Kyoto University, Japan

‘The Paris Agreement on climate change has made it clear that the attention of scholars and practitioners has to shift to the functioning and interaction of diverse climate policies. This excellent book addresses a stubborn issue that is critical for success: carbon leakage. The author very ably presents the theory and practice of carbon leakage for several climate policies while paying due attention to the legal realm, in particular WTO. This book is a must-have for both researchers and practitioners alike.’
– Stefan Weishaar, Groningen University, the Netherlands