A Fair Share: Time for the Carbon Defence?

Abstract

Global warming is causing human suffering and economic damage. Current competition law practice makes it difficult for firms to agree binding commitments that would reduce greenhouse gas emissions. However, a carbon defence that is consistent with the foundations of competition law could provide a means to permit agreements that have sufficient benefit to society as a whole, without the need for changing legislation. This paper sets out the obstacles current competition law practice presents to firms seeking to cut greenhouse gas emissions and examines how and whether the carbon defence proposal could work.

Keywords: Antitrust, Article 101, sustainability, global warming, climate change, carbon defence, greenhouse gas, competition law