Page, Edward, 1968-. (2011) Cashing in on climate change : political theory and global emissions trading. Critical Review of International Social and Political Philosophy, Volume 14 (Number 2). pp. 259-279. ISSN 1369-8230

Preview

Text WRAP_Page_Cashing_climate_13698230%2E2011%2E529713.pdf - Published Version Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (390Kb) | Preview

Abstract

Global climate change raises profound questions for social and political theorists. The human impacts of climate change are sufficiently broad, and generally adverse, to threaten the rights and freedoms of existing and future members of all countries. These impacts will also exacerbate inequalities between rich and poor countries despite the limited role of the latter in their origins. Responding to these impacts will require the implementation of environmental and social policies that are both environmentally effective and consistent with the equality and liberty of populations to which they are applied. This article considers whether global emissions trading, namely, the creation of a global market for tradable allowances conferring the right to emit a certain amount of greenhouse gas over a specified time period, is normatively defensible from a liberal egalitarian perspective. After a brief review of the theory and practice of emissions trading, a number of normative objections to the international trade in emissions allowances are analysed. These objections appeal to one, or a combination, of two claims. First, emissions trading schemes are likely to produce undesirable outcomes, such as environmental neglect, in the further future. I call these ‘instrumental objections’. Second, emissions trading schemes violate non‐consequential norms of justice and fairness. I call these ‘intrinsic objections’. It is argued that, when combined, instrumental and intrinsic objections indicate that instituting a global network of emissions trading schemes, as envisioned by a number of parties to the Kyoto Protocol and Copenhagen Accord, would be illegitimate in absence of significant procedural and consequential safeguards.

Item Type:	Journal Article
Subjects:	H Social Sciences > HC Economic History and Conditions J Political Science > JC Political theory
Divisions:	Faculty of Social Sciences > Politics and International Studies
Library of Congress Subject Headings (LCSH):	Climatic changes -- Political aspects, Consequentialism (Ethics), Environmental policy , Emissions trading, Commodification
Journal or Publication Title:	Critical Review of International Social and Political Philosophy
Publisher:	Routledge
ISSN:	1369-8230
Date:	16 March 2011
Volume:	Volume 14
Number:	Number 2
Page Range:	pp. 259-279
Identification Number:	10.1080/13698230.2011.529713
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
References:	Banuri, T., Göran-Mäler, K., Grubb, M., Jacobson, H. K. and Yamin, F., 1996. Equity and social considerations. In: J. Bruce, H. Lee and E. Haites, eds. Climate change 1995: economic and social dimensions of climate change. Cambridge: Cambridge University Press, 79–124. Bazin, D., Ballet, J. and Touhri, D., 2004. Environmental responsibility versus taxation. Ecological Economics, 49 (2), 129–134. Betz, R. and Sato, M., 2006. Emissions trading: lessons learned from the 1st phase of the EU ETS and prospects for the 2nd phase. Climate Policy, 6, 351–359. Cameron, J. and Pierce, D. W., eds, 2002 Rewards and intrinsic motivation: resolving the conflict. Westport, CT: Bergin & Garvey. Deci, E. L., Koestner, R. and Ryan, R. N., 1999. A meta-analytical review of experiments examining the effects of extrinsic rewards on intrinsic motivation. Psychological Bulletin, 125 (6), 627–668. Dworkin, R., 1985 A matter of principle. Oxford: Clarendon. Ellerman, A. D. and Buchner, B. K., 2007. The European Union Emissions Trading Scheme: origins, allocation, and early results. Review of Environmental Economics and Policy, 1 (1), 66–87. European Commission, 2009. Emissions trading: EU ETS emissions fell 3% in 2008. Press Release. Available from: http://europa.eu/rapid/pressReleases- Action.do?reference=IP/09/794&format=HTML&aged=0&language=EN&gui Language=en/. Frey, B. S., 1992. Pricing and regulating affect environmental ethics. Environmental and Resource Economics, 2 (4), 399–414. Frey, B. S., 1997. Not just for the money. Cheltenham: Edward Elgar. Goodin, R. E., 1998. Selling environmental indulgences. In: J. S. Dryzek and D. Schlosberg, eds. Debating the earth. Oxford: Oxford University Press, 237–254. Grubb, M., Vrolijk, C. and Brack, D. (1999). The Kyoto Protocol: a guide and assessment. London: Royal Institute of International Affairs. Hepburn, C. and Stern, N., 2008. A new global deal on climate change. Oxford Review of Economic Policy, 24 (2), 259–279. Intergovernmental Panel on Climate Change (IPCC), 2007. Summary for policymakers. In: M. Parry, O. Canziani, J. P. Palutikof, P. van der Linden and C. Hanson, eds. Climate change 2007: impacts, adaptation and vulnerability. Cambridge: Cambridge University Press, 7–22. Kant, I., [1785] 2002. Groundwork of the metaphysics of morals. Ed. and trans. E. Ellen. New Haven, CT: Yale University Press. Kelman, S., 1981 What price incentives? Economists and the environment. Boston, MA: Auburn House. Lepper, M. R. and Greene, D., eds, 1978. The hidden costs of reward. Hillsdale, NJ: Lawrence Erlbaum. Lepper, M. R., Greene, D. and Nisbett, R. E., 1973. Undermining children’s intrinsic interest with extrinsic reward: a test of the ‘Overjustification’ hypothesis. Journal of Personality and Social Psychology, 28, 129–137. Lohmann, L., 2006. Carbon trading: a critical conversation on climate change, privatisation and power, Development Dialogue, 48, 1–359 [online]; [cited 2008 Dec 7]. Available from: http://www.dhf.uu.se/pdffiler/DD2006_48_carbon_trading/ carbon_trading_web.pdf/. Mack, E., 1989. Dominos and the fear of commodification. In: J. W. Chapman and J. R. Pennock, eds. Markets and justice. New York, NY: New York University Press, 198–225. McCann, R. J., 1996. Environmental commodities markets: ‘cessy’ versus ‘ideal’ worlds. Contemporary Economic Policy, 14 (3), 85–97. Metcalf, G. E., 2009. Market-based policy options to control U.S. greenhouse gas emissions. Journal of Economic Perspectives, 23 (2), 5–27. Point Carbon, 2006. Carbon Market Europe, 5 May, 2–3. Point Carbon, 2009a. Carbon Market Europe, 8 (7), 20 February 2009. Point Carbon, 2009b. CDM and JI Monitor, 8 July. Point Carbon, 2010. Carbon Market Europe, 9 (1) 8 January. Radin, M. J., 1996. Contested commodities. New Haven, CT: Harvard University Press. Sagoff, M., 1999. Controlling global climate: the debate over pollution trading. In: V. V. Gehring and W. A. Galston, eds. Philosophical dimensions of public policy. New Brunswick, NJ: Transaction, 311–318. Sandel, M., 2005. It’s immoral to buy the right to pollute. In: Public philosophy: essays on morality in politics. Cambridge, MA: Harvard University Press, 93–96. Schneider, S. H. and Lane, J., 2007. An overview of ‘dangerous’ climate change. In: H. J. Schellnhuber, W. Cramer, N. Nakicenovic, T. Wigley and G. Yohe, eds. Avoiding dangerous climate change. Cambridge: Cambridge University Press, 7–23. Sheffler, S., 1994. The rejection of consequentialism, revd edition. Oxford: Clarendon. Sijm, J., Neuhoff, K. and Chen, Y., 2006. CO2 cost pass-through and windfall profits in the power sector. Climate Policy, 6 (1), 49–72. Stern, N., 2007. The economics of climate change. Cambridge: Cambridge University Press. Tietenberg, T., 2005. The tradable permits approach to protecting commons. In: D. Helm, ed. Climate change policy. Oxford: Oxford University Press, 167–193. Tietenberg, T., 2006. Emissions trading: principles and practice. 2nd edition. Washington, DC: Resources for the Future. UK Committee on Climate Change (UKCCC), 2008. Building a low-carbon economy: the UK’s contribution to tackling climate change [online]; [cited 2008 Dec 4]. Available from: http://hmccc.s3.amazonaws.com/pdf/7993-Climate%20 Change-ExecSumm-WEB-BMK.pdf/. United Nations, 1995. UN framework convention on climate change. London: HMSO. United Nations, 1998. Kyoto Protocol to the United Nations Framework Convention on Climate; [cited 2010 Jan 18]. Available from: http://unfccc.int/resource/docs/ convkp/kpeng.pdf/. United Nations, 2007. Human development report 2007/2008: Fighting climate change: human solidarity in a divided world. Basingstoke: Palgrave. United Nations, 2008. National greenhouse gas inventory data for the period 1990– 2006 [online]; [cited 2008 Nov 23]. Available from: http://unfccc.int/resource/ docs/2008/sbi/eng/12.pdf/. United Nations, 2009. Draft decision -/CP.15: Copenhagen Accord; [cited 2010 Jan 18]. Available from: http://unfccc.int/resource/docs/2009/cop15/eng/l07.pdf/. Walsh, A., 2001. Are market norms and intrinsic valuation mutually exclusive? Australasian Journal of Philosophy, 79(4), 523–543. Walzer, M., 1983. Spheres of justice: a defence of pluralism and equality. Oxford: Blackwell.
URI:	http://wrap.warwick.ac.uk/id/eprint/42109

Request changes to a record

Actions (login required)

View Item