Fonctions et limites des dispositifs contractuels dans un marché de permis négociables

Private firms, and not only States, should participate in pollution markets and, in this context, the use of different types of private law contracts ? of which sale is the main example ? would be justified. Contractual provisions and the guarantees linked with this contract are then required to regulate several aspects of the transactions on emission permits. Yet, investigation of the legal nature of permit holders? prerogatives reveals that permits are not « goods » likely to be the object of property rights. Whilst some prerogatives associated with the existence of a contractual relationship may be considered equivalent to the constitutional protection afforded landowners facing public administrations, they are complemented by the institutional guarantees that the permit « banks », which centralize most transactions, may provide.