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Carbon Trade: When the cap does not fit – Cap and trade and the failure of the EU Emissions Trading Scheme [Chapter 3 of "Critical Currents", issue 7, Nov, 2009 "Carbon Traiding - How it works and why it fails"]
Gilbertson, Tamra Reyes, Oscar
Gilbertson, Tamra
Reyes, Oscar
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"The European Union Emissions Trading Scheme (EU ETS) is the world’s largest carbon trading scheme, and the longest established cap and trade carbon market. It also serves as a model for similar cap and trade schemes that are proposed in the USA, Australia and other industrialised nations. For these reasons, it is the main focus of this chapter, the aim of which is to demystify claims that emissions trading is working now or will improve with age. The EU ETS also has a considerable bearing on how the global carbon trade works and is shaping up for the decades ahead. For each year of its operation, the EU ETS has continued to enclose and privatise the global atmospheric commons – awarding property rights to polluting companies based in the industrialised nations at the expense of the South. [...]", p. 31
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2009-11
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With permission of the license/copyright holder