Linking the Tōkyō Emissions Trading Scheme

Dabner, Justin (2015) Linking the Tōkyō Emissions Trading Scheme. Journal of Japanese Law, 20 (39). pp. 169-198.

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Under the Kyōto Protocol developed countries collectively committed to reduce green-house 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. National emissions trading schemes ("ETSs") are a prime mechanism to achieve this price. These ETSs 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 and California and Quebec as of 2013. With the gradual introduction of these national and sub-national ETSs the possibility of linkages emerges. However, to date no regimes have been linked across borders, although there is considerable literature about how, in the abstract, this might be achieved. It is proposed in this paper to examine these principles in the context of an existing ETS – the TMG ETS. Whether this regime is amenable to linking is especially significant given that it is being promoted as a blueprint for other sub-national jurisdictions.

Item ID: 42141
Item Type: Article (Research - C1)
ISSN: 1431-5726
Date Deposited: 15 Mar 2016 03:19
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180111 Environmental and Natural Resources Law @ 100%
SEO Codes: 97 EXPANDING KNOWLEDGE > 970118 Expanding Knowledge in Law and Legal Studies @ 100%
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