Legal Aspects of Carbon Trading

• Comprehensive coverage of all legal aspects of the carbon market
• Covers the US Carbon Trading Schemes
• Written with practitioners in mind by authors involved in Kyoto Protocol transactions

Readership: Academics and students of international environmental law, environmental and project finance lawyers in the private sector, civil servants in developed and developing countries, and lawyers and policy analysts in civil society.

Edited by David Freestone, Lobingier Visiting Professor of Comparative Law and Jurisprudence, George Washington University Law School, Washington DC, and Charlotte Streck, Founding partner and director of Climate Focus

David Freestone is the Lobingier Visiting Professor of Comparative Law and Jurisprudence at The George Washington University Law School in Washington D.C. He is a former Deputy General Counsel at the World Bank, and a Visiting Professor at the UN University Institute of Advanced Studies. From 1996-2004 he was head of the World Bank's Environment and International Law Group, and, inter alia, legal adviser to the World Bank Prototype Carbon Fund team. Prior to joining the Bank in 1996, he held a faculty chair in international law at the University of Hull in the United Kingdom, where he is still an honorary professor. Dr. Freestone has written widely on international environmental law, is the General Editor of the <"Legal Aspects of Sustainable Development>" a monograph series published by Martinus Nijhoff and is the founding editor of the <"International Journal of Marine and Coastal Law.>" He is the 2007 winner of the Elizabeth Haub Gold Medal for Environmental Law.

Charlotte Streck is a founding partner and Director of Climate Focus, a consultancy company specialized in climate change law and policy and the global carbon market. Until February 2005, Charlotte was Senior Counsel with the World Bank in Washington, DC. In this capacity she was responsible for establishing carbon funds and legal structuring of World Bank carbon transactions in Africa, Eastern Europe, Latin America and Asia. Before she joined the World Bank in 2000, she cooperated with the <"Global Public Policy Project>", which provided strategic advice for the Secretary General of the UN. She authored and co-authored several books and numerous articles on environmental law and policy, is a board member of the Global Public Policy Institute, an adjunct lecturer at the University of Potsdam, senior fellow of the Center of International Sustainable Development Law at McGill University, and an Advisor to the Prince of Wales Rainforest Project.

I. Introduction
1: David Freestone: The International Climate Change Legal and Institutional Framework: An Overview
II. General Issues
2: Thiago Chagas, Charlotte Streck and Matthieu Wemaere: Legal Ownership and Nature of Kyoto Units and EU Allowances
3: Allan Cook: Accounting for Emissions: From Costless Activity to Market Operations
4: Markus Gehring and Marie-Claire Cordonier Segger: Trade and Investment Implications of Carbon Trading for Sustainable Development
5: Michael Mehling: Linking of Emissions Trading Schemes
6: Jolene Lin: Private Actors in International and Domestic Emissions Trading Schemes
III. The Kyoto Protocol Mechanisms
7: Rutger de Witt Wijnen and Sander Simonetti: International Emissions Trading and Green Investment Schemes
8: Jelmer Hoogzaad and Charlotte Streck: A Mechanism with a Bright Future: Joint Implementation
9: Anthony Hobley and Carly Roberts: Joint Implementation Transactions: An Overview
10: Maria Netto and Kai-Uwe Barani Schmidt: The CDM Project Cycle and the Role of the UNFCCC Secretariat
11: Matthias Krey and Heike Santen: Trying to Catch up with the Executive Board: Regulatory Decision-making and its Impact on CDM Performance
12: Axel Michaelowa: Interpreting the Additionality of CDM Projects: Changes in Additionality Definitions and Regulatory Practices over Time
13: Christina Voigt: Responsibility for the Environmental Integrity of the CDM: Judicial Review of Executive Board Decisions
14: Martijn Wilder and Louisa Fitz-Gerald: Carbon Contracting
15: Andrew Hedges: The Secondary Market for Emissions Trading: Balancing Market Design and Market Based Transaction Norms
IV. Carbon Trading Outside Kyoto: Regional Schemes
16: Markus Pohlmann: The European Union Emissions Trading Scheme
17: Navraj Singh Ghaleigh: Emissions Trading before the European Court of Justice: Market Making in Luxembourg
V. Carbon Trading Outside Kyoto: National and Sub-National Schemes
18: K Russell LaMotte, David M (Max) Williamson and Lauren A Hopkins: Emissions Trading in the US: Legal Issues
19: Kyle W Danish: Offsets in the Emerging US Cap-and-Trade Programmes
20: Martijn Wilder and Louisa Fitz-Gerald: Carbon Markets and Policy in Australia: Recent Developments
21: Gray E Taylor and Michael R Barrett: Canada's Experience in Emissions Trading and Related Legal Issues
22: Christopher Tung: Carbon Law and Practice in China
VI. Voluntary Markets
23: Michelle Passero: The Voluntary Carbon Market: Its Contributions and Potential Legal and Policy Issues
VII. Post Kyoto: Moving towards Copenhagen
24: Murray Ward: What Might a Future Global Climate Change Deal Look Like?
25: Jos Cozijnsen and Michael J Coren: The Role of Project-Based Mechanisms in the Future Carbon Market
26: Christiana Figueres and Charlotte Streck: A Post-2012 Vision for the Clean Development Mechanism
27: Robert O'Sullivan and Rick Saines: International Market Solutions to Protect Tropical Rainforests
28: Thiago Chagas and Claybourne Fox Clarke: Aviation and Climate Change Regulation
VIII. Summary and Outlook
David Freestone and Charlotte Streck: Summary and Outlook