Closing Pandora's Box : a Case for Carbon Market Integrity after the Global Financial Crisis : Conditioning Ownership of the Right to Emit Greenhouse Gases in an Australian Emissions Trading Scheme

Damien L. Lockie

Abstract

This thesis argues the credibility of an Australia ETS depends on design rules that create a fair and orderly carbon market. Most importantly, a fair and orderly market would be one that enshrines a level playing field and is not susceptible to the problems experienced in operational emissions trading schemes and also in financial markets leading up to and throughout the Global Financial Crisis (GFC).