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Prospects of Linking EU and US Emission Trading Schemes:

Prospects of Linking EU and US Emission Trading Schemes:

Comparing the Western Climate Initiative, the Waxman-Markey and the Lieberman-Warner Proposals

This working paper affirms that emissions trading systems currently under development in the US raise certain challenges for an operational market link, but are not generally incompatible. Specifically, certain design elements of trading systems may give rise to concern, such as cost containment provisions and borrowing and offset provisions.

The working paper [pdf, 155 KB, English] is available for download at the Climate Strategies’ website.


Citation

Sterk, Wolfgang; Michael Mehling and Andreas Tuerk 2009: Prospects of Linking EU and US Emission Trading Schemes: Comparing the Western Climate Initiative, the Waxman-Markey and the Lieberman-Warner Proposals: Wuppertal Institute for Climate, Environment and Energy; Ecologic Institute Washington; Joanneum Research, Graz.

Language
English
Author(s)
Wolfgang Sterk
Andreas Tuerk
Publisher
Year
2009
Dimension
39 pp.
Table of Contents
  1. INTRODUCTION
  2. COMPARATIVE ANALYSIS OF THE EU ETS, THE WCI, THE LIEBERMAN-WARNER AND THE WAXMAN-MARKEY PROPOSALS
    2.1  The GHG and Industry Sector Coverage
    2.2  Definition and Recognition of Trading Units
    2.3  The Setting of Targets and the Distribution of Trading Units
    2.4  Temporal Flexibility
    2.5  Compliance Framework and Intervention Mechanisms
  3. LINKING OPTIONS
  4. LEGAL CONSIDERATIONS
    4.1  Linking Mandate
    4.2  Procedural Issues 
  5. CONCLUSIONS
  6. REFERENCES

 

Keywords
Emissions Trading, ETS, Waxman-Markey, Lieberman-Warner, Western Climate Initiative, Trading Schemes, EU, , Europe, US, USA