Can Markets Protect the Climate? Prospects for Greenhouse Gas Trading in Europe and the US
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On November 16, 2004, Duke University will hold a pioneering symposium to compare the European Union and US greenhouse gas emissions trading systems. Representatives of differing perspectives and positions will discuss current and future options for greehouse gas emissions trading systems in Europe and the US.

Some background:

In January 2005 the EU will launch the world's largest emissions trading
program, covering carbon dioxide emissions from twenty-five European
countries, as part of its implementation of the Kyoto Protocol. On this side of the Atlantic, the US runs the largest emissions trading system to date--the sulfur dioxide (SO2) emissions trading program to reduce acid rain adopted in the 1990 Clean Air Act amendments. Although the US has not yet ratified the Kyoto Protocol, the leading proposal for greenhouse gas (GHG) emissions trading in America--the McCain-Lieberman Climate Stewardship Act--received a surprisingly strong and bipartisan 43 votes in the US Senate in October 2003. Senators McCain and Lieberman have promised to bring their bill back for new votes, just as Senator McCain did with the McCain-Feingold campaign finance reform legislation.

Peter Zapfel, an economist in the European Commission's DG Environment who is a key architect of the EU system, and Tim Profeta, the key staff
architect of the McCain-Lieberman bill, will present and compare their
policy approaches. Joe Goffman, a longtime lawyer at Environmental Defense who was a key architect of the 1990 SO2 trading system (and then served in the Senate and at EPA to help implement it, before returning to EDf), will offer comments about the design and shepherding of new environmental markets. Goffman is currently writing a book on the SO2 trading experience. Bruce Braine, a Senior VP at American Electric Power who has helped lead the nation's largest generator of electricity (and largest emitter of CO2) in their approach to both SO2 and GHG trading, will comment on his industry's perspective.

This symposium builds on the work by Duke faculty, such as Jonathan
Wiener's latest book, "Reconstructing Climate Policy" on GHG emissions
trading, Jim Salzman's article in the Stanford Law Review on markets for
ecosystem services, and the new energy program developed by Simon Rich and Lincoln Pratson of the Nicholas School.

See below for links to additional information about the participants

This is the 9th Colloquium on Law and the Environment of the Center for Environmental Solutions, and a Center on Global Change Seminar

Tuesday, November 16
4:00—6:00pm, Law School, Rm 3043 (directions >)
Reception to follow: Law School loggia

Peter Zapfel, European Commission, Directorate General – Environment (abstract & bio > | presentation >)
Timothy Profeta (JD-MEM '97, Duke Law and Nicholas Schools), Counsel to Senator Joseph Lieberman (bio > | presentation >)

Joseph Goffman, formerly at Environmental Defense (bio >)
Bruce Braine, American Electric Power (bio > | presentation >)

Jonathan Wiener, Professor of Law and Environmental Policy and Director, Duke Center for Environmental Solutions (bio >)

Background material:

Duke Center for Environmental Solutions
Duke Center on Global Change
Nicholas Energy & Environment Program


©2005 Center on Global Change
Box 90658, Duke University, Durham NC 27708-0658
A150 Levine Science Research Center (LSRC), Research Drive
Tel: 919-681-7180 Fax: 919-681-7176

Last updated November 29, 2005