Office for Environmental Programs - Theses

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End date: 2009 × Start date: 2004 × Subject: Climate change × Subject: Kyoto Protocol ×

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    Emissions trading: a review of policy, regulation and success
    Shields, Kevin ( 2007)
    Market mechanisms, in particular emissions trading schemes, are increasingly being utilised in multilateral agreements on environmental issues to achieve environmentally acceptable outcomes in the most cost effective manner. The most salient in recent years being the Kyoto Protocol. However it is the US experience of emissions trading schemes, such as the national SDATP and RECLAIM in California, that has influenced the Kyoto Protocol which is the international standard by which countries are developing their own emissions trading schemes, like the EU ETS. Australia stands to gain much knowledge regarding emissions trading through the development, implementation and operation of these schemes internationally for its own proposed domestic program. Already it is clear that compliance is a key element to the success of any emissions trading scheme in both economic and environmental terms. Therefore the design of a transparent and robust regulatory system is required, where penalties are automatically applied, to ensure perfect (or near perfect) compliance and remove incentives for non-compliance. Additionally a regular review process is also required to enable an audit of the system as a whole, and for participants to outline problems faced which can then be solved for future compliance years.
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