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• W2945667471 abstract "This research considers, from a doctrinal perspective, issues in the construction of contracts for the sale of EU carbon credits. These issues may arise due to the ways in which regulations of the EU carbon market relate to and affect such contracts.By a literature review, the EU carbon market and its regulations are investigated. Three governing effects of the regulations on EU carbon-credit transactions are discussed. First, the relevant regulations create rights to carbon credits. Second, the relevant regulations manage the issuance, allocation, transfer and cancellation of carbon credits in the registry system. Third, the relevant regulations control the behavior of commercial actors in the course of carbon-credit transactions.By searching literature relating to the development of the EU carbon market, it will be found that use of a master agreement is one of the standard contractual approaches to the sale of carbon credits on the EU carbon market, which agreement addresses the governing effects of the regulations on EU carbon-credit transactions. In the light of English contract law relating to the contract construction exercise in particular, this thesis analyses how contracts for the sale of EU carbon credits via a master agreement may interact with the EU regulations in two ways. First, a master agreement used for contracting for the sale of EU carbon credits is formed and performed under the EU ETS, thus is affected by conditions created by the relevant EU regulations. Second, terms of the master agreement are exercised in words and phrases that are identical to phraseology found in the regulations of the EU carbon market.These two ways in which the EU regulations relate to and affect contracts for the sale of EU carbon credits may generate two issues in the contract interpretation exercise. One is whether the words in the disputed contracts must be construed as normal contractual language or as legislative language. The other concerns the question of how the court might apply rules to identify the admissible “context”. It is shown that the modern approach to contract interpretation approach can shed light on resolving these two issues." @default.
• W2945667471 created "2019-05-29" @default.
• W2945667471 creator A5067895828 @default.
• W2945667471 date "2019-04-04" @default.
• W2945667471 modified "2023-09-27" @default.
• W2945667471 title "The relevance of regulations of the EU carbon market in construing contracts for the sale of EU carbon credits" @default.
• W2945667471 cites W2127660138 @default.
• W2945667471 doi "https://doi.org/10.14264/uql.2019.240" @default.
• W2945667471 hasPublicationYear "2019" @default.
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