LE ROLE DE LA PROPRIETE ET DU MARCHE DANS LE REGIME QUEBECOIS DE PLAFONNEMENT ET D'ECHANGE DE DROITS D'EMISSION DE CARBONE

  • Jacques Papy
Keywords: greenhouse gases, economic instrument, emission permits, carbon market, economic incentives, transaction costs

Abstract

As part of the launch of the Western Climate Initiative on January 1st, 2012, the province of Quebec will implement one of the first carbon emissions trading scheme in North America. This kind of scheme is based on concepts drawn from the economic theory such as scarcity, property and the market. The purpose of this paper is to show how these concepts are central to the legislation and to reveal the underlying dynamics of creating incentives and efficiency. The paper also underlines the pivotal role played by legal rules in the operationalization of these concepts.

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Published
2011-07-01
Section
Legal Commentary