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Emissions trading: what makes it work?

Julien Chevallier (Grantham Institute, Imperial College London, London, UK)

International Journal of Climate Change Strategies and Management

ISSN: 1756-8692

Article publication date: 6 November 2009

674

Abstract

Purpose

The purpose of this paper is to critically discuss the main advantages of introducing environmental regulation tools such as tradable permits markets.

Design/methodology/approach

Current climate policies, the negotiations under way at the international level, and past experiences with emissions trading in the USA and Europe are critically reviewed.

Findings

The creation of emissions trading schemes such as the European Union emissions trading scheme plays a key role in the preservation of the global public good that constitutes the climate.

Research limitations/implications

This paper calls for the wider development of emissions trading schemes in climate change policy, given a careful design and regulatory appraisal from past experiences.

Originality/value

This paper reveals that the introduction of a tradable permits market (such as in Europe on 1 January 2005) which provides incentives to take early abatement measures, may be seen as a decisive first step to fight climate change.

Keywords

Citation

Chevallier, J. (2009), "Emissions trading: what makes it work?", International Journal of Climate Change Strategies and Management, Vol. 1 No. 4, pp. 400-406. https://doi.org/10.1108/17568690911002915

Publisher

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Emerald Group Publishing Limited

Copyright © 2009, Emerald Group Publishing Limited

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