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A Thought on Construction of Carbon Emission Credit Trading System under 'Durban Declaration on Climate Change'

  • DONG-A LAW REVIEW
  • 2012, (54), pp.255-292
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

LEE SANG CHEON 1

1동아대학교

Accredited

ABSTRACT

The ‘Carbon Emission Credit Trading System’ is no more omnipotent under The “Durban Declaration on Climate Change”. The international situation is slowly coming out of ‘Kyoto-mechanism’ It's time for carbon tax to be centered, and The ‘Carbon Emission Credit Trading System’ will carry just the subfunction to avoid carbon custom. Perhaps the international fluidity of Carbon Emission Credit in Carbon Emission Credit Trading System will be not so important, but be likely to remain as a subsidy. Concerned with the construction of Carbon Emission Credit Trading System, Firstly, in view of legal essentiality, Carbon Emission Credit should be established more under the influence of ‘public law’ rather than under that of private law. Secondly, In view of the function of ‘Carbon Emission Credit’, it would get to the industrial economy, and turmoil the system of balance of elctricity. Thirdly, the Carbon Emission Credit itself could be no more a financial commodity, Thus there is no reason for KPX to make treat it. In consideration of the real function of Carbon Emission Credit, the KPX should take th duty of trading Carbon Emission Credit. It would be natural for KPX to take the duty of trading Carbon Emission Credit, and it leads to harmonious supply and demand of electricity and peace in industrial.

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