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From H20 to C02: Lessons of Water Rights for Carbon Trading

Carol M. Rose

University of Arizona - James E. Rogers College of Law

Arizona Law Review, Vol. 50, 2008
Arizona Legal Studies Discussion Paper No. 07-26

Interest in climate change has generated many proposals for cap-and-trade programs to control greenhouse gases. Longstanding American water rights regimes may have some lessons for these new proposals. Nineteenth century eastern water law focused on the cap - keeping water instream - and particularly illustrates the importance of mobilized constituencies in any program that entails capping resource use. Western water law focused on individualized and supposedly tradable rights, and its experience shows especially the significance of rights-definition both for the content and for the tradability of rights. As with water rights, both content and tradability in the new rights regimes are likely to match only imperfectly the goals that we want a cap-and-trade program to serve. For that reason, the historical experience of both water regimes also suggests the important role that surrounding and supporting institutions will play to facilitate trade under imperfect circumstances, and to reassure participants of the standards, accountability, and acceptability of the cap-and-trade regime.

Number of Pages in PDF File: 20

Keywords: water law, riparian rights, appropriative water rights, global warming, carbon trades, cap and trade

JEL Classification: K11, K2, K32, K33

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Date posted: November 29, 2007  

Suggested Citation

Rose, Carol M., From H20 to C02: Lessons of Water Rights for Carbon Trading. Arizona Law Review, Vol. 50, 2008; Arizona Legal Studies Discussion Paper No. 07-26. Available at SSRN: http://ssrn.com/abstract=1033496

Contact Information

Carol Marguerite Rose (Contact Author)
University of Arizona - James E. Rogers College of Law ( email )
P.O. Box 210176
Tucson, AZ 85721-0176
United States
520-621-5544 (Phone)
520-621-9140 (Fax)

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