A comparison of the Australian and Tōkyō emissions trading schemes

Dabner, Justin (2014) A comparison of the Australian and Tōkyō emissions trading schemes. Journal of Japanese Law, 38. pp. 3-28.

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[Extract] Pursuant to the Kyōto Protocol developed countries collectively committed to reduce greenhouse gas emissions by at least 5 % below 1990 levels during 2008 to 2012. A core element of the Protocol was that a price should be set on greenhouse gas emissions. A primary mechanism to achieve this price was to be national emissions trading schemes ("ETS") that might ultimately be linked thereby establishing a global market. A number of jurisdictions have now implemented ETSs. For example, the European Union ("EU") implemented an ETS in 2005, New Zealand in 2008, the Tōkyō Metropolitan Government ("TMG") in 2010, Australia in 2012 and California from 2013. Whilst the current Australian Government proposes to repeal the Australian ETS effective 1 July 2014 this decision is premised on an opposing philosophical perspective rather than a concern with the operational elements of the ETS. Essentially the Government is proposing that Australia should achieve its emissions reductions through taxpayer funded programs rather than using market forces. Meanwhile the TMG regime is being promoted as a blueprint for other sub-national jurisdictions, including Sydney. It is proposed to compare the features of the two regimes with a view to identifying any lessons for ETS design.

Item ID: 37801
Item Type: Article (Research - C1)
ISSN: 1431-5726
Keywords: Kyoto protocol, emissions trading scheme, ETS, comparison, Australian, Tokyo
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Date Deposited: 01 Apr 2015 01:06
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180111 Environmental and Natural Resources Law @ 100%
SEO Codes: 96 ENVIRONMENT > 9603 Climate and Climate Change > 960302 Climate Change Mitigation Strategies @ 100%
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