Instrumentalising property : an analysis of rights in the EU emissions trading system

摘要: The thesis examines the nature of legal interests in emissions allowances (emissions entitlements), tradable instruments created by European Union Emissions Trading System (EU ETS). potential categorisation entitlements as private property impacts significantly on environmental success EU ETS and, more widely, conceptualisation and functionality rights. current silence has caused problems market, illustrated a case study an analysis commercial contracts constituting this market. In turn, public policy goals depend puts forward analytical framework designed to articulate construction that reconciles multiple potentially conflicting regime. consists two parts. first part theories establishes elements required constitute right are exclusion, transfer use. second three legislatively rights regimes, namely intellectual rights, milk quotas spectrum which compared from viewpoint identified requisite elements. This exercise further reveals instructive insights into evolutionary regulatory environment. For act effective tool regulation, it needs be specifically conceptualised instrumental property, new category is put thesis. notion defined regime also particular context operate. Instrumental must necessarily balanced against extraneous or law regards deserving protection.