Authors
Simon Caney
University of Warwick
Abstract
Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of the EU, Japan, New Zealand, among others, as well as China and Australia. However, concerns have been raised on a variety of ethical grounds about the use of markets to reduce emissions. For example, some people worry that emissions trading allows the wealthy to evade their responsibilities. Others are concerned that it puts a price on the natural environment. Concerns have also been raised about the distributional justice of emissions trading. Finally, some commentators have questioned the actual effectiveness of emissions trading in reducing emissions. This paper considers these three categories of objections – ethics, justice and effectiveness – through the lens of moral philosophy and economics. It is concluded that only the objections based on distributional justice can be sustained. This points to reform of the carbon market system, rather than its elimination.
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DOI 10.1017/S1358246111000282
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References found in this work BETA

Justice: What's the Right Thing to Do?Michael J. Sandel (ed.) - 2009 - Farrar, Straus and Giroux.
On Liberty.JOHN STUART MILL - 1956 - In Steven M. Cahn (ed.), Exploring Philosophy: An Introductory Anthology. Oxford University Press. pp. 519-522.
Spheres of Justice: A Defense of Pluralism and Equality.Michael Walzer - 1983 - Journal of Business Ethics 4 (1):63-64.

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Citations of this work BETA

Pricing Carbon for Climate Justice.Alexandre Gajevic Sayegh - 2019 - Ethics, Policy and Environment 22 (2):109-130.
Emissions Trading Ethics.Jo Dirix, Wouter Peeters & Sigrid Sterckx - 2016 - Ethics, Policy and Environment 19 (1):60-75.

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