Paving the Pathway for Linking Carbon Markets: Compatibility and Institutional Design Problems

建構連結碳市場之路－相容性與制度設計的問題

崔芝賢(Gina Jee-Hyun Choi)

《臺北大學法學論叢》 113期 (2020/03) Pp. 189-223

摘要

This paper aims to find practical policy implications by analyzing the compatibility and institutional design problems in linking multiple carbon markets as a bottom-up approach between national, sub-national, and non-state actors. This analysis is crucial in propelling the implementation of a transnational climate change scheme, primarily led by the United Nations Framework Convention on Climate Change (UNFCCC) as a top-down model. The compatibility analysis includes issues relevant to possible linkage between different types of instruments (e.g. cap-and-trade, carbon tax, or intensity-based schemes; the level of stringency of a regulatory scheme in a jurisdiction; and the oversight mechanism for a linkage). The discussion of the institutional design problems reviews the choice of structure, degree of integration, the basic legal instrument, and termination of a linkage. The primary policy implications derived from the analysis are summarized as follows. First, some crucial design elements of carbon markets should be adjusted before the markets are linked in order to effectively achieve the environmental regulatory goal and maintain an economically and politically stable market. Some market elements that previously have been recognized as rather technical should be re-evaluated to show the importance of harmonization before a linkage. Second, as for the legal instrument and structure for the linkage, adding more flexibility would help to consummate the linkage and enable more jurisdictions, including sub-national actors, to join without necessarily sacrificing stability.

關鍵字

Carbon Market ； Emissions Trading Scheme ； Cap-and-trade ； Intensity-based Scheme ； Carbon Tax ； Club Strategy ； Oversight Mechanism ； Sovereignty ； Regulatory Autonomy ； Institutional Design

並列摘要

本文旨在藉由分析相容性與制度設計的問題，發掘實際的政策意義，在國家、次國家層級與非國家行動者之間，探討如何連結多個碳市場，以之作為一種由下而上的方法，以因應氣候變遷。此一分析的重要性在於：促進主要由聯合國氣候變遷框架公約（UNFCCC）所引導之跨國氣候變遷治理架構的執行。此相容性的分析包括以下爭議問題：不同種類工具的連結可能性（例如：碳限額交易、碳稅或其他排碳強度管制架構、特定管轄權管制架構下的嚴格程度以及連結架構中的監督機制）。有關制度設計問題的討論，則檢視架構的選擇、整合的程度、基本的法律工具與連結的終止。從本分析研究所得出的主要政策意義，歸結如下：首先，為有效達成環境管制目標並維持一個經濟與政治上穩定的市場，某些碳市場的關鍵設計要素，應該在市場連結之前進行調整。某些先前被認為過度技術性的市場要素，在連結之前應重新評估，以顯示不同市場之間協調的重要性。其次，關於法律工具與連結的架構，本文認為賦予更多的彈性，將有助於完成各市場的連結，並使更多不同管轄權下的碳市場，包括次國家層級的行動者，無須必然犧牲其穩定性而仍得以參與市場的連結。

並列關鍵字

碳市場 ； 排放權交易制度 ； 碳限額交易 ； 排碳強度管制架構 ； 碳稅 ； 俱樂部策略 ； 監督機制 ； 主權 ； 監管自主 ； 制度設計

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