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Domestic and International Carbon Offsets under the Carbon Pollution Reduction Scheme: What Prospects?

University of Tasmania Law Review, Vol. 27, No. 1, pp. 111-138, 2008

Sydney Law School Research Paper No. 10/11

21 Pages Posted: 7 Jan 2010  

Rosemary Lyster

The University of Sydney Law School

Date Written: January 6, 2010

Abstract

This article assesses the prospects for liable entities under Australia’s proposed Carbon Pollution Reduction Scheme (CPRS) to rely on international and domestic offset credits. This is crucially important for liable entities as, under the CPRS, they must surrender a permit for every tonne of carbon dioxide equivalent emitted. The only alternatives to surrendering permits are to purchase and surrender allowable offset credits, or undertake verified abatement action. From a liable entity’s perspective, much will depend on the price of permits, the price of offset credits and the cost of abatement action. The Clean Development Mechanism and Reducing Emissions from Deforestation and Degradation are considered as are proposals by the Garnaut Climate Change Review for international sectoral agreements.

Keywords: international and domestic carbon offsets, Australia’s proposed Carbon Pollution Reduction Scheme, the Clean Development Mechanisms, Reducing Emissions from Deforestation and Degradation, international sectoral agreements, Garnaut Climate Change Review

JEL Classification: K10, K30, K32

Suggested Citation

Lyster, Rosemary, Domestic and International Carbon Offsets under the Carbon Pollution Reduction Scheme: What Prospects? (January 6, 2010). University of Tasmania Law Review, Vol. 27, No. 1, pp. 111-138, 2008; Sydney Law School Research Paper No. 10/11. Available at SSRN: https://ssrn.com/abstract=1532017

Rosemary Lyster (Contact Author)

The University of Sydney Law School ( email )

New Law Building, F10
The University of Sydney
Sydney, NSW 2006
Australia

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