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Full-Text Articles in Law
The Loophole That Would Not Die: A Case Study In The Difficulty Of Greening The Internal Revenue Code, Lawrence A. Zelenak
The Loophole That Would Not Die: A Case Study In The Difficulty Of Greening The Internal Revenue Code, Lawrence A. Zelenak
Faculty Scholarship
Congress and the Treasury have commissioned the National Academy of Sciences (NAS) “to undertake a comprehensive review of the Internal Revenue Code of 1986 to identify the types of and specific tax provisions that have the largest effects on carbon and other greenhouse gas emissions and to estimate the magnitude of those effects.” The hope of the proponents of the NAS carbon audit is that Congress, once informed of the results of the audit, will respond by “greening” the Internal Revenue Code. This Essay cautions that a more environmentally friendly Code will not necessarily follow from the legislative consciousness-raising of …
The Curious Case Of Greening In Carbon Markets, James Salzman, William Boyd
The Curious Case Of Greening In Carbon Markets, James Salzman, William Boyd
Faculty Scholarship
Over the last several years, so-called carbon markets have
emerged around the world to facilitate trading in greenhouse gas
credits. This Article takes a close look at an unexpected and
unprecedented development in some of these markets—premium
“green” currencies have emerged and, in some cases, displaced
standard compliance currencies. Past experiences with other
environmental compliance markets, such as the sulfur dioxide and
wetlands mitigation markets, suggest the exact opposite should be
occurring. Indeed, buyers in such markets should only be interested in
buying compliance, not in the underlying environmental integrity of the
compliance unit. In some of the compliance carbon …