This article provides a legal analysis of some of the key issues that arise in examining the system for allocating emissions allowances under the EU's emissions trading system directive (EU ETS). There is a strong series of arguments in support of the view that the free allocation of allowances...

The EU environmental policy is challenged by current international development (withdrawal of the US from the Paris climate accord, melting of the Arctic, changes in climate, extreme weather events), the sustainable development policy agenda and also by public pressure. The interest of the...

This paper provides an international economic lawyer's perspective of the issues economists need to consider in analysing the trade environment interface. Despite their historical polarity, proponents of both trade and environmental regulation principally seek to reduce negative externalities...

This paper develops a simple economic framework that is used to explain and critique the recent trend favoring site-specific contractual commitments in environmental regulation. Such contracts typically involve an exchange under which the regulator relaxes ostensibly inflexible uniform...

This chapter from a forthcoming Cambridge Press book, Beyond Environmental Law, proposes emulating free market dynamics with a new regulatory instrument, the Environmental Competition Statute. This statute would authorize any polluter making a pollution reduction to require a dirtier competitor...

Since the publication of Revesz and Stavins (2007), there have been some significant normative advances in the area of environmental law and economics. For example, the emergence of climate change as the area of central concern for environmental regulation has brought a great deal of attention...

The public trust doctrine is an ancient doctrine of public property law that governs sovereign stewardship of natural resources. The doctrine both promote public access to trust resources and requires sovereign protection of them for the benefit of the public, including future generations. The...

This paper investigates the existing Italian regulation regarding theso-called "administration by agreements" and the possibility to adapt the existing legal system to voluntary agreements in the environmental field in the light of the European guidelines on this issue. The research consists of...

This article reviews the economics literature on monitoring and enforcement of environmental policy. In the last few years there has been a rapid growth in both theoretical developments and empirical studies of monitoring and enforcement. Various factors have contributed to this growth,...

This article reviews the economics literature on monitoring and enforcement of environmental policy. In the last few years there has been a rapid growth in both theoretical developments and empirical studies of monitoring and enforcement. Various factors have contributed to this growth,...