Abstract

http://ssrn.com/abstract=1706488
 


 



Contractual Perspective of Climate Change Issues


Elisabeth Peden


University of Sydney - Faculty of Law

November 9, 2010

IN THE WILDS OF CLIMATE LAW, pp. 143-154, R. Lyster, ed., Australian Academic Press, 2010
Sydney Law School Research Paper No. 10/125

Abstract:     
This paper first seeks to provide a perspective of how contract law has fared when given the role of protecting rights relating to environmental issues through the case example of Tito v. Waddell (No. 2) [1977] 1 Ch. 106. This case highlights that often contract law cannot provide a remedy that is ideal in situations that do not concern purely commercial issues, because contract law is designed to allocate risks in markets, rather than ensure important concerns such as slowing climate change or protecting forests or flora are achieved.

With this background, the paper then considers the operation contract law may have when the Australian government introduces carbon trading. Some observations are also offered relating to the standard term contract that has been introduced earlier this year in Europe, the home of the largest carbon credit trading market. This analysis focuses on remedies, and provides some insights into issues that might be considered in Australia, should a similar standard form contract be adopted.

Number of Pages in PDF File: 15

Keywords: environmental law, contract, carbon trading, carbon trading agreements, private law remedies, damages, restoration

JEL Classification: K10, K12, K30, K32

Accepted Paper Series


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Date posted: November 11, 2010  

Suggested Citation

Peden, Elisabeth, Contractual Perspective of Climate Change Issues (November 9, 2010). IN THE WILDS OF CLIMATE LAW, pp. 143-154, R. Lyster, ed., Australian Academic Press, 2010; Sydney Law School Research Paper No. 10/125. Available at SSRN: http://ssrn.com/abstract=1706488

Contact Information

Elisabeth Peden (Contact Author)
University of Sydney - Faculty of Law ( email )
Faculty of Law Building, F10
The University of Sydney
Sydney, NSW 2006
Australia
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