scholarly journals Law and Economics, or Punctum Archimedis in Environmental Law

Law and World ◽  
2021 ◽  
Vol 7 (4) ◽  
pp. 55-91
Keyword(s):  
Law And Economics ◽  
Environmental Law ◽  
Emission Trading ◽  
Coase Theorem ◽  
Trading System ◽  
Policy Makers ◽  
Economic Productivity ◽  
Normative Order ◽  
Decentralized Market ◽  
The Eu

This article examines the autonomous field of Law and Economics, indicates the importance of integrating the economical methodology in the process of comprehensively understanding the normative order and laments over the undesirable shortage of interdisciplinary education and academic dialogue regarding Law and Economics in Georgia. Moreover, this paper deliberates on the relevance of the Coase theorem for lawyers and policy-makers, displays the specific recommendations of its application in jurisprudence, including elucidating property rights, maximizing economic productivity and minimizing transaction costs. The following article discusses attempts and shortcomings to harmonize a decentralized market solution in environmental law and demonstrates regarding the example of the EU emission trading system that the method of Law and Economics can be used not only for a thorough analysis of the existing model but also as a pragmatic instrument for defining a normative program.

scholarly journals Environmental Assessment and Regulatory Aspects of Cold Ironing Planning for a Maritime Route in the Adriatic Sea

Energies ◽  
2021 ◽  
Vol 14 (18) ◽  
pp. 5836
Author(s):  
Tobia Piccoli ◽  
Matteo Fermeglia ◽  
Daniele Bosich ◽  
Paolo Bevilacqua ◽  
Giorgio Sulligoi
Keyword(s):  
Environmental Factors ◽  
Adriatic Sea ◽  
Emission Trading ◽  
Air Pollutant ◽  
Economic Consequences ◽  
Pollutant Emissions ◽  
Model Design ◽  
Emission Trading System ◽  
Trading System ◽  
The Eu

The technology of cold ironing (or shore-to-ship power) can meaningfully reduce greenhouse gases and air pollutant emissions from ships at the berth by powering the vessels from the electrical shore grid. While cold ironing constitutes an effective and affordable solution in northern Europe and America, economic, legal, and environmental factors still render this technology less attractive in southern Europe. This paper aims to unpack and analyze the economic, regulatory, and environmental factors that can foster cold ironing as a standard installation in the Mediterranean Sea. Based on a model design for the port of Trieste (Italy) as applied to a cluster of target ports in the Adriatic Sea (in Italy, Croatia, and Greece), this article evaluates the cold ironing payback period by comparing costs of shore side-plants with environmental externalities and O&M costs. Moreover, the paper addresses key regulatory bottlenecks arising in different European jurisdictions with regard to the setting-up and development of cold ironing, while appraising the legal and economic consequences of deploying cold ironing in light of the future inclusion of the maritime sector in the EU Emission Trading System.

scholarly journals The EU ETS and Aviation: Evaluating the Effectiveness of the EU Emission Trading System in Reducing Emissions from Air Travel

2021 ◽  
Vol 9 (1) ◽  
pp. 84-120
Author(s):  
A. M. Heiaas
Keyword(s):  
Fuel Consumption ◽  
Emission Trading ◽  
Jet Fuel ◽  
Aviation Industry ◽  
Eu Ets ◽  
Emission Trading System ◽  
Trading System ◽  
Effective Manner ◽  
Starting Point ◽  
The Eu

Over the past 30 years, the aviation industry has seen record-breaking growth whilst enjoying exemptions from most taxes and VAT charges. Currently, the aviation sector is considered one of the fastest-growing greenhouse gas emissions sources. Attempting to reduce these emissions in a cost-effective manner, the EU decided in 2012 to include all flights entering and leaving the EU in their Emission Trading System (EU ETS). It was quickly changed to only include travel within the EU. Nevertheless, as the largest cap-and-trade system in the world, the purpose of the EU ETS is to control the growth of emissions by issuing pollution permit rights. The idea is that by setting an emission ceiling and allowing trade between sectors, emission abatement will happen where it is cheapest and easiest to do. This paper explores whether the EU ETS succeeded in reducing the aviation sector emissions over the period 2012–2018 by employing a General Synthetic Control model to estimate a counterfactual scenario. When using jet fuel consumption as a proxy for emissions, the results indicate that on average the EU ETS led to a 10 per cent increase in jet fuel consumption relative to a scenario where it was not implemented. However, the paper fails to conclude a causal relationship between EU ETS and jet fuel consumption due to drawbacks with the data. Nevertheless, it provides a starting point for future ex-post research concerned with aviation and carbon pricing in the European market.

scholarly journals Rules vs. Discretion in Cap-and-Trade Programs: Evidence from the EU Emission Trading System

2020 ◽  
Author(s):  
Marina Friedrich ◽  
Sébastien Fries ◽  
Michael Pahle ◽  
Ottmar Edenhofer
Keyword(s):  
Emission Trading ◽  
Cap And Trade ◽  
Emission Trading System ◽  
Trading System ◽  
The Eu

scholarly journals California’s Cap-and-Trade System: Diffusion and Lessons

2017 ◽  
Vol 17 (3) ◽  
pp. 12-30 ◽  
Author(s):  
Guri Bang ◽  
David G. Victor ◽  
Steinar Andresen
Keyword(s):  
Policy Diffusion ◽  
Policy Learning ◽  
Cap And Trade ◽  
Trading System ◽  
Policy Makers ◽  
Trading Systems ◽  
Cross Border ◽  
The Us ◽  
The Eu

This article investigates the roles of policy diffusion and policy learning in shaping the design of California’s cap-and-trade system. On the surface, it is very similar to other cap-and-trade programs, but in practice many detailed differences reflect active efforts by California policy-makers to avoid flaws that they saw in other systems, such as the EU ETS and the US East Coast’s Regional Greenhouse Gas Initiative. We assess how California’s cap-and-trade system emerged, the significance of policy diffusion, and the lessons for other trading systems by applying two broad sets of theoretical frames—the role of policy diffusion and the role of organized local political concerns. We find that despite the signature status of the trading system, California mostly relies on much less transparent and more costly direct regulation. We also find that California’s cap-and-trade system has developed mostly in its own, special political context, which hampers the feasibility of cross-border trading.

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