Overview

In this timely book, Sven Rudolph and Elena Aydos take an interdisciplinary approach that combines sustainability economics, political economy and legal concepts to answer two fundamental questions: How can carbon markets be designed to be effective, efficient and just at the same time? And how can the political barriers to sustainable carbon markets be overcome? The first part of the book develops an innovative and robust Sustainable Model Rule for evaluating carbon market design, which is demonstrated in practice through chapters assessing the vast majority of real-life emissions trading schemes (ETS) from around the world. In the second part, the focus shifts to political feasibility, providing a political economy framework for evaluating ETS. The authors examine empirical data from case studies in several countries, and identify strategies and policy windows for implementing truly sustainable ETS. The cutting-edge tools outlined in this book for conducting assessments of carbon market design and feasibility will be invaluable for climate policy practitioners and environmental lawyers at national and international levels. The book will also be an important resource for policy makers, think tanks and stakeholders, as well as for scholars and students in environmental economics and climate change law and policy.

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9781839109089

Table of Contents

Reviews

'This book is a comprehensive comparative study of emissions trading schemes (ETSs), one of the most important carbon pricing instruments today. Its broad coverage of the world's major carbon markets is the most attractive feature of this book. Taking a political economy approach, it explains why ETSs were introduced, how they came to be in their current form, and gives their future perspectives. It will provide readers with an up-to-date understanding of the state of the world's carbon markets, and guidance for future climate policies.' - Toru Morotomi, Kyoto University, Japan 'The Paris Agreement helped to put climate change firmly on the agenda of policy makers. Emissions trading is the policy maker's weapon of choice and proliferating quickly around the globe. This excellent book is the first that puts most if not all systems under ruthless scrutiny and holds them against an objective benchmark of a sustainable model rule that also evaluates social justice. The book relies on the potent public choice methodology to evaluate the critical success factors for a sustainable instrument design. The book comes at a critical moment, when the international community only has a decade to make or break the Paris objectives of limiting global warming to 1.5 ?C degrees. A must read for any policy maker, climate activist and academic interested in and concerned about our common future!' - Stefan E. Weishaar, University of Groningen, the Netherlands

'This book is a comprehensive comparative study of emissions trading schemes (ETSs), one of the most important carbon pricing instruments today. Its broad coverage of the world's major carbon markets is the most attractive feature of this book. Taking a political economy approach, it explains why ETSs were introduced, how they came to be in their current form, and gives their future perspectives. It will provide readers with an up-to-date understanding of the state of the world's carbon markets, and guidance for future climate policies.' -- Toru Morotomi, Kyoto University, Japan 'The Paris Agreement helped to put climate change firmly on the agenda of policy makers. Emissions trading is the policy maker's weapon of choice and proliferating quickly around the globe. This excellent book is the first that puts most if not all systems under ruthless scrutiny and holds them against an objective benchmark of a sustainable model rule that also evaluates social justice. The book relies on the potent public choice methodology to evaluate the critical success factors for a sustainable instrument design. The book comes at a critical moment, when the international community only has a decade to make or break the Paris objectives of limiting global warming to 1.5 C degrees. A must read for any policy maker, climate activist and academic interested in and concerned about our common future!' -- Stefan E. Weishaar, University of Groningen, the Netherlands

'This book is a comprehensive comparative study of emissions trading schemes (ETSs), one of the most important carbon pricing instruments today. Its broad coverage of the world's major carbon markets is the most attractive feature of this book. Taking a political economy approach, it explains why ETSs were introduced, how they came to be in their current form, and gives their future perspectives. It will provide readers with an up-to-date understanding of the state of the world's carbon markets, and guidance for future climate policies.' -- Toru Morotomi, Kyoto University, Japan 'The Paris Agreement helped to put climate change firmly on the agenda of policy makers. Emissions trading is the policy maker's weapon of choice and proliferating quickly around the globe. This excellent book is the first that puts most if not all systems under ruthless scrutiny and holds them against an objective benchmark of a sustainable model rule that also evaluates social justice. The book relies on the potent public choice methodology to evaluate the critical success factors for a sustainable instrument design. The book comes at a critical moment, when the international community only has a decade to make or break the Paris objectives of limiting global warming to 1.5 ?C degrees. A must read for any policy maker, climate activist and academic interested in and concerned about our common future!' -- Stefan E. Weishaar, University of Groningen, the Netherlands

Author Information

Sven Rudolph, Policy Advisor for Energy and Climate Policy, Institute for Church and Society (IKG), Germany and Elena Aydos, Senior Lecturer, Newcastle Law School, University of Newcastle, Australia

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