Greenhouse Gas Emissions trading and duties of the state: A preliminary review of Alberta’s specified Gas Emitters Regulation
In July 2007 the oil endowed Canadian province of Alberta launched the first compliance emissions trading scheme for greenhouse gases in North America under its Specified Gas Emitters Regulation. This paper reviews key aspects of the programme including scope, performance credit trading and project offsetting with comparative reference to other carbon emissions trading schemes. The paper highlights the respective rights and duties of regulators and emitters under the scheme, concludes that the Emitters Regulation constitutes a relatively modest effort to control carbon emissions and forgoes some important aspects of regulatory oversight. The theory of rights and duties presented in the paper points to the critical role of the state in ensuring the longterm efficacy of carbon emissions trading in general as well in the province.