The Kyoto Protocol, which came in force in February 2005, allows countries to resort to «supplementary activities» consisting particularly in carbon sequestration in agricultural soils. Existing papers studying the optimal carbon sequestration recognize the importance of the temporality of...

What is at stake in the climate negotiations is the provision of a global public good, indeed a "clean" atmosphere.The Kyoto Protocol is only a very minor step toward this objective. Looking further ahead in time, beyond the 2008-2012 period, Annex I Parties' commitments will not be sufficient...

The European Commission (2001a) has recently presented a directive proposal to the European Parliament and Council in order to implement a greenhouse gas emission trading scheme. If this proposal survives the policy process, it will create the most ambitious trading system ever implemented....

At the stage of international post-Kyoto negotiations, the adoption of ambitious public policies raises an increasing interest, as society has a whole is more concerned by the scale of damages and the potential irreversibility linked to climate change. The introduction of a tradable permits...

This chapter identifies the main price drivers of European Union Allowances (EUAs), valid for compliance under the European Union Emissions Trading Scheme (EU ETS) created in 2005 to regulate CO2 emissions of more than 10,000 high carbon-intensive installations across Member States. Based on key...

At the stage of international post-Kyoto negotiations, the adoption of ambitious public policies raises an increasing interest, as society has a whole is more concerned by the scale of damages and the potential irreversibilities linked to climate change. The introduction of a tradable permits...

This article provides a critical appraisal of the concept of sustainable development in light of climate change. As the latest climate change science indicates strong effects of anthropogenic activity on global warming, we review the pros and the cons of prioritizing development over...

According to several studies, agricultural carbon sequestration could be a relatively low cost opportunity to mitigate greenhouse gas (GHG) concentration and a promising means that could be institutionalised. However the potential for additional carbon quantities in agricultural soils is...

Do countries interact when they decide whether or not to ratify the Kyoto Protocol? If so, what is the nature of these interactions? To answer these questions, we provide a theoretical analysis based on the notions of strategic substitutability and strategic complementarity. Firstly, we analyze...

Simultaneity between commitment periods (2008-2012) of both International and European Emissions Trading schemes may generate distortions in terms of burden distribution among sectors. There will be two levels of trading (a country and an entity level), which both need to be consistent with one...