Law Commons^™

Public Trust Limits On Greenhouse Gas Trading Schemes: A Sustainable Middle Ground?, Karl S. Coplan

Elisabeth Haub School of Law Faculty Publications

There is a some consensus among economists, environmentalists, and politicians that some form of “cap and trade’ program is the appropriate regulatory mechanism to achieve the greenhouse gas emissions reductions necessary to avoid disastrous global climate disruptions. “Cap and trade” programs necessarily incorporate tradable emissions rights – essentially tradable rights to pollute. As such, they run into principled objection by some environmentalists who oppose the notion of creating economic rights in the global commons – essentially the “right to pollute.” This principled objection derives doctrinal support from the public trust doctrine – the ancient notion rooted in common law and …