Three ways to skin a cat: fiscal responses to climate change: Australia, California and Tokyo compared

Dabner, Justin (2015) Three ways to skin a cat: fiscal responses to climate change: Australia, California and Tokyo compared. In: Presentations from the The Society of Legal Scholars Annual Conference. From: SLS 2016: The Society of Legal Scholars Annual Conference: legislation and the role of the judiciary, 1-4 September 2015, York, UK.

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Emissions reductions can be promoted through regulatory measures but most economists support placing a price on carbon as a complementary and, possibly, more effective measure. A pricing measure typically takes the form of either (or both) a carbon tax or an emissions trading scheme (ETS). Whilst both measures have their advantages and disadvantages an ETS might be preferred on the basis of the ability to set caps and link with other schemes. A number of ETSs are now operating around the globe but there is no one template.

This paper will compare the different approaches adopted by the Californian and Tokyo ETSs with the Australian regime that operated for two years from 2012 until 2014 and the so-called emissions reduction fund (ERF) that replaced it.

It will be demonstrated that fundamental points of difference reflected by these alternative arrangements are the extent to which the regimes focus on domestic rather than global emissions reductions and the primacy given to the market. The ETSs can also be contrasted to the voluntary nature of the ERF, at least as currently enacted, and how that system seeks to reward responsive businesses whilst the ETSs penalise non-responsive entities.

Item ID: 42145
Item Type: Conference Item (Presentation)
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Date Deposited: 15 Mar 2016 04:09
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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