Transcript Climate Change Policy: The Challenges for Legal Reform

Climate Change Policy:
Challenges for Legal
Reform
Dr Nicola Durrant
Vice-Chancellor’s Research Fellow/Senior Lecturer
Faculty of Law & Institute for Sustainable Resources
Queensland University of Technology
[email protected]
isr
Institute for Sustainable Resources
CRICOS No. 00213J
The International Response to
Climate Change
isr
Institute for Sustainable Resources
CRICOS No. 00213J
Drivers behind the Australian legal response:
Flexible &
cost-effective
global
reductions in
greenhouse
gas emissions
Clean
Development
Mechanism
(CDM).
Implementation of
emissions
reduction projects
in developing
countries.
Joint
Implementation
(JI).
Implementation
of emissions
reduction projects
within developed
party countries.
International
Emissions
Trading.
Purchase & Sale
of Allowances
by authorised
entities.
Select the
Liable
Entities
Set the
Market
Cap
Carbon
Pricing
Mechanism
Consider
Assistance
Measures
Import of
Kyoto
Protocol
units?
The Carbon Price Signal:
requires a
regulatory
restriction on
the release of
emissions to the
atmosphere
tradeable
emissions
instruments
must be created
a limited
number of
permits released
to market with
duty to
surrender
permits
resulting price
signal intended
to influence
behaviour to
reduce
emissions
CPM Links with International Markets
Fixed Price
Period
Flexible
Price
Period
(with price
ceiling)
Flexible
Price
Period (w/o
price
ceiling)
• No import of Kyoto Protocol credits
• No export of Australian CPM credits
• No Assigned Amount Units
• No export of CPM credits
• Import of eligible credits
• No Assigned Amount Units
• Export of Australian CPM units
permitted
• Import of eligible credits
Use of
Credible
Carbon
Offsets
Select the
Liable
Entities
Set the
Market
Cap
Carbon
Pricing
Mechanism
Establish
Market
Linkages
Protect
the
tradeable
permits
Consider
Assistance
Measures
Import of
Kyoto
Protocol
units?
Calls for an integrated legal response:
Adaptation
Responses
Mitigation
Measures
Thank You
[email protected]
isr
Institute for Sustainable Resources
CRICOS No. 00213J