Climate Change Law: Emissions Trading in the EU and the UKCameron May, 2007 - 927 pages This book is the first comprehensive analysis of the regulatory framework for carbon trading in Europe. It brings together in one volume the first full legal analysis of EU and UK law relating to the EU emissions trading scheme, and all the legislative materials necessary to understand this innovative and complex area of environmental law. It is an essential companion for any professional advising on carbon trading in the UK or EU and a user-friendly reference tool for lawyers, carbon traders, and those working in regulated industries and financial institutions with an interest in carbon finance. It also provides an invaluable set of materials and lessons learned for policy makers and industry in jurisdictions where carbon trading are under development and for those with an interest in the use of market-based mechanisms to address other environmental problems. |
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Contents
Preface | 21 |
III | 28 |
IV | 40 |
KEY ELEMENTS AND THE EVOLUTION | 55 |
III | 61 |
IV | 67 |
Research and Development | 78 |
Comitology Procedure | 84 |
EVOLUTION OF THE UK REGULATIONS | 217 |
Applications for a Greenhouse Gas Emissions Permit | 223 |
Requests for Further Information | 225 |
VARIATION AND TRANSFER OF | 235 |
SURRENDER AND REVOCATION OF | 243 |
Allocation to New Entrants | 249 |
Allocation of Allowances to Late Installations | 254 |
CHANGES AFFECTING THE ALLOCATION | 263 |
PERMITS | 91 |
II | 96 |
D | 102 |
Criteria Relating to the Distribution of Allowances | 123 |
Expost adjustments and Future Commitments | 133 |
The Consideration of NAPs by the Commission | 141 |
Amendments After Commission Approval or | 147 |
ALLOWANCES ALLOCATION AND ISSUE | 153 |
Issue of Allowances | 158 |
Pooling | 166 |
THE USE OF KYOTO UNITS AND UNITS | 173 |
Linking the EU ETS with Schemes in Other States | 186 |
SURRENDER OF ALLOWANCES AND | 197 |
ENFORCEMENT AND PENALTIES FOR | 273 |
Application to the Crown | 283 |
APPEALS | 285 |
NEW | 301 |
UK NAP FOR THE SECOND PHASE | 307 |
THE UK GREENHOUSE GAS EMISSIONS | 319 |
Direct Participant Agreements | 326 |
F The Auction | 334 |
Penalties for Noncompliance | 344 |
Climate Change Agreement Participants | 352 |
National Audit Office Report | 358 |
Climate Change Agreements | 364 |
Common terms and phrases
31 December allocation of allowances allowances allocated amended appeal application auction authorised baseline cancellation carbon dioxide equivalent chapter CITL climate change agreement climate change levy comitology Community independent transaction compliance account criterion Decision direct participant Emissions Trading Directive Emissions Trading Scheme energy entrant reserve ETS Regulations EU ETS European Commission European Parliament facility Finance Act 2000 gas emissions permit Gas Emissions Trading gases greenhouse gas emissions identification code identify independent transaction log IPPC issued Kyoto Protocol Kyoto units listed in Annex Member monitoring and reporting national allocation plan notify number of allowances operator holding account participant’s party procedure proposed pursuant to Article quantity of allowances Registries Regulation registry administrator relation relevant respect Scheme Rules Secretary sector association sector targets serve a notice source list specified surrender allowances target period target unit total quantity transfer umbrella agreement underlying agreement UNFCCC variation verified emissions