Carbon markets are developing and expanding around the world, but how and to what extent is their design shaped by learning and interaction between them? How do these markets function and what is the role of design?

Carrying out a ground-breaking analysis of their design and diffusion, this book covers all the major carbon market systems and processes around the world: the EU, RGGI, California, Tokyo, New Zealand, Australia, China, South Korea and Kazakhstan. It offers a systematic, in-depth discussion and comparison of the key design features in these systems with expert contributors exploring how, and to what extent, these features have been shaped by central policy diffusion mechanisms and domestic politics.

By focussing on the specific design features of the instruments used, this volume makes important contributions to diffusion theory, highlighting how ETS diffusion processes more often have resulted in design divergence than convergence, and discussing the implications of this finding for the vision of linked systems in the post-Paris era. It will be of significant interest to a broad audience interested in the emergence, evolution, functioning and interaction of carbon markets.

Table of contents

  • Preface
  • Chapter 1 Introduction; Jørgen Wettestad and Lars H. Gulbrandsen
  • Chapter 2 Theory and Method; Lars H. Gulbrandsen, Arild Underdal, David G. Victor and Jørgen Wettestad
  • Chapter 3 EU Emissions Trading: Frontrunner – and ‘Black Sheep’?; Jørgen Wettestad and Torbjørg Jevnaker
  • Chapter 4 The Regional Greenhouse Gas Initiative: US Pioneer Seeking to Avoid EU Mistakes?; Solveig Lygre and Jørgen Wettestad
  • Chapter 5 California’s Cap-and-Trade Programme: The Role of Diffusion; Guri Bang, David G. Victor and Steinar E. Andresen
  • Chapter 6 Tokyo’s Emissions Trading System: Japan’s First Mandatory Cap-and-Trade Scheme ; Masahiko Iguchi
  • Chapter 7 Adopting and Designing New Zealand’s Emissions Trading Scheme; Tor Håkon Jackson Inderberg, Ian Bailey and
    Nichola Harmer
  • Chapter 8 Australia: Domestic Politics, Diffusion and Emissions Trading Design as a Technical and Political Project ; Ian Bailey and Tor Håkon Jackson Inderberg
  • Chapter 9 South Korea: East Asian Pioneer Learning from the EU; Katja Biedenkopf and Jørgen Wettestad
  • Chapter 10 Emissions Trading in Kazakhstan: Complex Application of the ‘EU Model’; François Sammut, Lars H. Gulbrandsen and Jørgen Wettestad
  • Chapter 11 China’s Carbon-Market: In it to Learn it; Iselin Stensdal, Gørild Heggelund and Duan Maosheng
  • Chapter 12 ETS Design and Potential Effects in China: Comparison with the EU ; Christoph Böhringer, Knut Einar Rosendahl and Tang Weiqi
  • Chapter 13 Comparative Analysis and Conclusions; Jørgen Wettestad, Lars H. Gulbrandsen, David G. Victor and Arild Underdal


Link to Routledge catalogue

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