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Luis Mundaca

Luis Mundaca

Professor

Luis Mundaca

Achieving and maintaining institutional feasibility in emissions trading: the case of New Zealand

Author

  • Jessika Luth Richter
  • Luis Mundaca

Summary, in English

Emission trading schemes (ETS) have emerged as a popular climate policy measure and are increasingly advocated as policy instruments to support the transition to a green economy. Using complementary analytical methods, this research investigated the institutional developments and complexities of the New Zealand Emissions Trading Scheme (NZ ETS). It focuses on (1) institutional experience and administrative capacity, and (2) political acceptance during formation, design, implementation, and review. The research answer questions concerning critical conditions that have affected the institutional feasibility of the NZ ETS and the trade-offs in achieving and maintaining institutional feasibility. The experience in New Zealand has demonstrated that bipartisan political support and obliged participant acceptance for an ETS can be achieved and the administrative burden can be kept low through an inclusive consultation process and particular aspects of design to provide more certainty about costs. However, this institutional feasibility has also been a trade-off with other important aspects such as environmental effectiveness, predictability, and legitimacy, posing risks to maintaining political acceptance of the policy design and achieving the longer term objectives of transitioning to a green economy.

Department/s

  • The International Institute for Industrial Environmental Economics

Publishing year

2015

Language

English

Pages

1487-1509

Publication/Series

Mitigation and Adaptation Strategies for Global Change

Volume

20

Issue

8

Document type

Journal article

Publisher

Springer

Topic

  • Social Sciences Interdisciplinary

Keywords

  • Climate change mitigation Emissions trading scheme Institutional feasibility New Zealand Policy evaluation
  • NZ ETS
  • New Zealand
  • emissions trading scheme
  • political feasibility
  • institutional feasibiity

Status

Published

Project

  • Policy Intervention for a Competitive Green Energy Economy

ISBN/ISSN/Other

  • ISSN: 1573-1596