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Dirix, Jo Peeters, Wouter and Sterckx, Sigrid 2016. Emissions Trading Ethics. Ethics, Policy & Environment, Vol. 19, Issue. 1, p. 60.
Dirix, Jo Peeters, Wouter and Sterckx, Sigrid 2015. Is the EU ETS a Just Climate Policy?. New Political Economy, Vol. 20, Issue. 5, p. 702.
Roser, Dominic Huggel, Christian Ohndorf, Markus and Wallimann-Helmer, Ivo 2015. Advancing the interdisciplinary dialogue on climate justice. Climatic Change, Vol. 133, Issue. 3, p. 349.
Chamberlin, Shaun Maxey, Larch and Hurth, Victoria 2014. Reconciling scientific reality with realpolitik: moving beyond carbon pricing to TEQs – an integrated, economy-wide emissions cap. Carbon Management, Vol. 5, Issue. 4, p. 411.
Heeger, Robert 2014. Climate Change and Responsibility to Future Generations: Reflections on the Normative Questions. De Ethica. A Journal of Philosophical, Theological and Applied Ethics, Vol. 1, Issue. 1, p. 9.
Spiekermann, Kai 2014. Buying Low, Flying High: Carbon Offsets and Partial Compliance. Political Studies, Vol. 62, Issue. 4, p. 913.
Dirix, Jo Peeters, Wouter Eyckmans, Johan Jones, Peter Tom and Sterckx, Sigrid 2013. Strengthening bottom-up and top-down climate governance. Climate Policy, Vol. 13, Issue. 3, p. 363.
Page, Edward A. 2013. The ethics of emissions trading. Wiley Interdisciplinary Reviews: Climate Change, Vol. 4, Issue. 4, p. 233.
Hayward, Tim 2012. Climate change and ethics. Nature Climate Change, Vol. 2, Issue. 12, p. 843.
Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of the EU, Japan, New Zealand, among others, as well as China (soon) and Australia (potentially). However, concerns have been raised on a variety of ethical grounds about the use of markets to reduce emissions. For example, some people worry that emissions trading allows the wealthy to evade their responsibilities. Others are concerned that it puts a price on the natural environment. Concerns have also been raised about the distributional justice of emissions trading. Finally, some commentators have questioned the actual effectiveness of emissions trading in reducing emissions. This paper considers these three categories of objections – ethics, justice and effectiveness – through the lens of moral philosophy and economics. It is concluded that only the objections based on distributional justice can be sustained. This points to reform of the carbon market system, rather than its elimination.
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