Carbon emission right as a new property right: rescue CDM developers in China from 2012
AbstractClean development mechanism (CDM) is encountering many uncertainties due to the coming end of the commitment period and critically suggested reformation. As the largest participant in the CDM market, China shoulders the biggest proportion of market risk. Among the studies on CDM in China, few have focused upon the legal aspect of CDM, which is crucial in defending developers’ interests. To fill this research gap in making the transition from policy to law, this paper claims that carbon emission right, which is the basis of trade, should be attributed as a property right in Property Law of People’s Republic of China. The present study will discuss the characteristics of carbon emission, definition, and legal attribution of carbon emission right. The valid object of carbon emission right in the CDM market under Property Law should be certified emissions reductions (CERs). The usufructuary right could be specifically applied in practice to the owners’ property right on CERs in China. Although experience from the CDM is not fully applicable to the development of cap and trading, the success of CDM market provides a reasonable platform to study emission right in the view of legal science. Furthermore, the proposed research acts as the pioneer study that lay the theoretical foundations in legal science on emission right trading for other potential schemes, which in turn addresses international environmental issues. Copyright The Author(s) 2013
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Springer in its journal International Environmental Agreements: Politics, Law and Economics.
Volume (Year): 13 (2013)
Issue (Month): 3 (September)
Contact details of provider:
Web page: http://www.springer.com/economics/journal/10784
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lambert Schneider, 2009. "A Clean Development Mechanism with global atmospheric benefits for a post-2012 climate regime," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 9(2), pages 95-111, May.
- Joskow, Paul L & Schmalensee, Richard & Bailey, Elizabeth M, 1998. "The Market for Sulfur Dioxide Emissions," American Economic Review, American Economic Association, vol. 88(4), pages 669-85, September.
- Manne, Alan & Richels, Richard, 2004. "US rejection of the Kyoto Protocol: the impact on compliance costs and CO2 emissions," Energy Policy, Elsevier, vol. 32(4), pages 447-454, March.
- Palmer, Charles, 2011. "Property rights and liability for deforestation under REDD+: Implications for 'permanence' in policy design," Ecological Economics, Elsevier, vol. 70(4), pages 571-576, February.
- van der Gaast, Wytze & Begg, Katherine & Flamos, Alexandros, 2009. "Promoting sustainable energy technology transfers to developing countries through the CDM," Applied Energy, Elsevier, vol. 86(2), pages 230-236, February.
- Roberts, J. Timmons & Grimes, Peter E., 1997. "Carbon intensity and economic development 1962-1991: A brief exploration of the environmental Kuznets curve," World Development, Elsevier, vol. 25(2), pages 191-198, February.
- Evy Crals & Lode Vereeck, 2005. "Taxes, Tradable Rights and Transaction Costs," European Journal of Law and Economics, Springer, vol. 20(2), pages 199-223, September.
- DeCanio, Stephen J., 2009. "The political economy of global carbon emissions reductions," Ecological Economics, Elsevier, vol. 68(3), pages 915-924, January.
- Sueli Giorgetta, 2002. "The Right to a Healthy Environment, Human Rights andSustainable Development," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 2(2), pages 171-192, June.
- Yang, Ming & Nguyen, François & De T'Serclaes, Philippine & Buchner, Barbara, 2010. "Wind farm investment risks under uncertain CDM benefit in China," Energy Policy, Elsevier, vol. 38(3), pages 1436-1447, March.
- MacKenzie, Donald, 2009. "Making things the same: Gases, emission rights and the politics of carbon markets," Accounting, Organizations and Society, Elsevier, vol. 34(3-4), pages 440-455, April.
- Convery, Frank J. & Redmond, Luke & Dunne, Louise & Ryan, Lisa B., 2003. "Assessing the European Union emissions trading directive," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 3(06).
- Cerin, Pontus & Karlson, Lennart, 2002. "Business incentives for sustainability: a property rights approach," Ecological Economics, Elsevier, vol. 40(1), pages 13-22, January.
- Michael Grubb & Tim Laing & Thomas Counsell & Catherine Willan, 2011. "Global carbon mechanisms: lessons and implications," Climatic Change, Springer, vol. 104(3), pages 539-573, February.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.