Emissions Trading Schemes under International Economic Law

James Munro (Associate to The Hon Justice Middleton, Federal Court of Australia)

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English

Oxford University Press
30 August 2018

Trade agreements; International economic & trade law; International environmental law; Responsibility of states & other entities; Global warming

Series: International Economic Law Series

The announcement by China that it will implement a national emissions trading scheme confirms the status of this instrument as the pre-eminent policy choice for mitigating climate change.

China will join the dozens of existing and emerging schemes around the world - from the EU to California, South Korea to New Zealand -

that use carbon units (otherwise known as emissions permits or carbon credits) to trade in greenhouse gas emissions in a multi-billion dollar global carbon market. However, to date, there has been no consensus about this pre-eminent policy instrument being regulated by international economic law through the World Trade Organization, international investment agreements, and free trade agreements. Munro addresses this issue by evaluating whether carbon units qualify as 'goods', 'services', 'financial services', and 'investments' under international economic law and showing how international economic law applies to emissions trading scheme in diverse and unexpected ways. Further, by engaging in a comparative assessment of schemes around the world, his book illustrates how and why all emissions trading schemes engage in various forms of violations of international economic law which would not, in most instances, be justified by environmental or other exceptions.

In doing so, he demonstrates how such schemes can be designed or reformed in ways to ensure their future compliance.

By: James Munro (Associate to The Hon Justice Middleton Federal Court of Australia)
Imprint: Oxford University Press
Country of Publication: United Kingdom
Dimensions: Height: 242mm, Width: 163mm, Spine: 19mm
Weight: 492g
ISBN: 9780198828709
ISBN 10: 0198828705
Series: International Economic Law Series
Pages: 220
Publication Date: 30 August 2018
Audience: Professional and scholarly , College/higher education , Undergraduate , Further / Higher Education
Format: Hardback
Publisher's Status: Active

1: Introduction I: CONCEPTUAL FOUNDATIONS: EMISSIONS TRADING SCHEMES AND INTERNATIONAL LAW 2: Applying International Economic Law to Emissions Trading Schemes: Treaty Interpretation and the Paris Agreement 3: Carbon Units and Emissions Trading Schemes II: CHARACTERISATION OF CARBON UNITS UNDER INTERNATIONAL ECONOMIC LAW 4: International Trade in Carbon Units under GATT 1994 and Free Trade Agreements 5: International Trade in Carbon Units under GATS and Free Trade Agreements 6: International Trade in Carbon Units and Financial Services 7: Carbon Units as 'Investments' under International Investment Agreements III: CONSISTENCY OF EMISSIONS TRADING SCHEMES WITH INTERNATIONAL ECONOMIC LAW 8: A Taxonomy of Prima Facie Violations of International Economic Law 9: Exceptions 10: Conclusion

James Munro has worked as a lawyer at the World Trade Organization on international trade litigation at both the panel and appellate stages. He has also practised in the fields of international trade and investment law for the Australian Government, including advising on domestic compliance with international economic law, free trade agreements, trade remedies investigations, and serving as negotiator and legal counsel on various trade and environment treaties. Munro has published a number of peer-reviewed contributions on subjects relating to international trade and investment law, and holds a PhD from the University of Melbourne in this field. It should be noted that this present contribution does not necessarily reflect the views of any current or former employer.