International Climate Change Law and Policy

This course will equip you with the fundamentals of International Climate Change Law and Policy. You will learn to critically assess Environmental Economics theory and its application to climate change policy, including the use of market-based policy approaches such as environmental taxes and emissions trading.

International Climate Change Law and Policy will discuss a range of controversial debates, reflecting the highly politicised nature of international Climate Change Law.

The course is of particular interest to professionals in environmental and resources sectors, public policy, government sector, non-government sector and private sector (e.g. sustainability consulting).

• Critically assess the causes of Climate Change and distinguish its impacts in relation to different countries and generations,
• Understand the legal principles, rules and institutions of the international climate change regime,
• Explain how markets function and fail by applying the Theory of Externalities,
• Compare and contrast Taxes and Cap-and-Trade, with a focus on efficiency and effectiveness,
• Demonstrate intercultural awareness and sensitivity to the social and economic perspectives of other nations.

Week 1: Introduction to Climate Change and the Social Cost of Carbon

• The Scientific Evidence
• Key Polluting Countries
• Introduction to Carbon Accounting
• Projected Impacts
• Valuing Greenhouse Gas Emissions: Introduction to the Social Cost of Carbon

Week 2: Evolution and Architecture of the International Climate Change Regime

• The United National Framework Convention on Climate Change (UNFCCC)
• The Kyoto Protocol
• The Paris Agreement: A new paradigm of international cooperation

Week 3: Climate Change Policy and The Theory of Externalities

• Introduction to the theory of Externalities
• The Pigouvian Tax
• Problems with Pigouvian Taxation

Week 4: How Prices Can Save the Global Climate: The Standard-Price-Approach

• The Standard-Price-Approach
• Taxes vs. Cap-and-Trade
• Efficiency and Effectiveness