Carbon Pricing And Climate Change: Legal Obstacles And Solutions

Athulya S B, Government Law College, Thiruvananthapuram, Kerala

ABSTRACT

The escalating threat of climate change necessitates robust regulatory mechanisms to curb greenhouse gas emissions, with carbon pricing emerging as a key solution. This paper, "Carbon Pricing and Climate Change: Legal Obstacles and Solutions," explores the legal landscape of carbon pricing, examining its effectiveness, challenges, and environmental impact. It analyses various carbon pricing mechanisms, such as carbon taxes and cap- and-trade systems, and their implementation across jurisdictions. Key legal obstacles include regulatory inconsistencies, enforcement challenges, and socio-economic impacts. The complexities of international cooperation and harmonizing carbon pricing frameworks pose additional challenges, given different nations' diverse economic and political contexts. To address these challenges, the paper proposes solutions such as establishing robust legal frameworks, fostering international collaboration, ensuring equitable economic transitions, and promoting technological innovation. It emphasizes the need for strategic legal reforms that align with sustainable development goals to enhance the efficacy of carbon pricing. By integrating legal insights with environmental objectives, this paper advocates for comprehensive reforms and international cooperation to tackle the multifaceted challenges of carbon pricing implementation. It underscores carbon pricing's pivotal role in the global fight against climate change, calling for strategic legal measures to ensure its success.

Keywords: Carbon Taxes, Cap-and-Trade Systems, International Cooperation, Enforcement Challenges.