Bibliographie
SUMMARY THE BIRTH OF A NEW MARKET : THE UK TRADING ALLOWANCES SCHEME FOR CO2 EMISSIONS If climate change seems now inevitable, the worst effects of climate change can be avoided if the world acts to reduce emissions, and, in due time, stabilize the levels of carbon dioxide in the atmosphere. Eco...
Enregistré dans:
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| Format: | Article ou chapitre numérique |
| Langue: | Français |
| Publié: |
2004
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| Accès en ligne: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
| Résumé: | SUMMARY THE BIRTH OF A NEW MARKET : THE UK
TRADING ALLOWANCES SCHEME FOR CO2 EMISSIONS
If climate change seems now inevitable, the worst effects of climate change can be
avoided if the world acts to reduce emissions, and, in due time, stabilize the levels of
carbon dioxide in the atmosphere. Economic instruments have been internationally
recognized as the best way to find a response to climate change. Under the Kyoto
Protocol, the European Community and its members States can agree to meet their
commitments jointly.
The UK Climate Change Program sets out the principles and the administrations’
strategies for tackling climate change. In terms of costs and benefits, the UK Trading
Permits Climate Change Scheme is one of the most performant schemes in Europe
and probably in the world. This explains the genesis of the UK scheme and how it
works. The legal mechanism of this scheme could be a guide and an example for an
efficient European program against climate change. The UK scheme seeks to
maintain competitiveness of the industries concerned. However, although in
economic terms it seems to be an efficient combination of incentive subsidies with the
allocative virtues of a market mechanism, it has considerable transaction costs, in
particular costs of control, and its legal rules frequently are indeterminate. Yet, this
need not be a disadvantage as it allows the system to evolve and to adapt itself to
changes of circumstances and of the legal environment. |
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