한,중,일 탄소시장 연계의 파급효과 분석

김용건,공현숙 한국환경연구원 2011 녹색성장연구보고서 Vol.2011 No.-

The purpose of this study is to prepare for the potential integration of Korea, China, and Japan`s individual or regional emissions trading schemes into a larger international system. In addition, the study analyzes the expected economic and environmental impacts of integrating carbon trading schemes of Korea, China, and Japan. To achieve this, the industrial and trade structures, greenhouse gases reduction policies, carbon emission intensities, and emissions reduction potentials of Korea, China, and Japan were analyzed, and the economic and environmental impacts of integrating Korea, China, and Japan`s national carbon emissions trading schemes were examined using a computable general equilibrium model. According to 2008 figures, Korea, China, and Japan collectively accounted for 17.6% of the total global GDP and 28.3% of the total global CO2 emissions. By 2035, IEA predicts that the collective weight of Korea, China, and Japan, in terms of total global GDP and CO2 emissions, will increase by 20.6% and 35.2% respectively. At present time, the three countries all rank within the top ten in importing crude oil, natural gas, coal, and fossil fuels, and with regards to coal importation, Japan, China, and Korea rank first, second, and third globally. The energy imports of all three countries have shown sharp increases over the past decade, but Korea`s energy import increase is particularly serious. In terms of fossil fuel imports (based on crude oil, coal, natural gas, petroleum, and petroleum products), Korea`s energy import figures increased 2.7 times from $33 billion dollars in 2000 to $121.1 billion ... dollars today. In 2008, Korea`s net import of energy was the highest in the world at 4.67 toe/person. With regards to the future developmental processes of a global carbon market, Korea, China, and Japan will play critical roles due to their large collective weight and growth potential in terms of total global energy importation and greenhouse gas emissions. When comparing Korea, China, and Japan, both Korea and Japan demonstrated high energy import dependencies and low industrial carbon intensities while China demonstrated high economic growth potential and high industrial energy intensity. Also, China and Korea are shown to be highly trade dependent countries. The different national characteristics of Korea, China, and Japan illustrate how the three countries will face different circumstances in establishing their own greenhouse gas reduction policies and integrating their policies into an international emission trading scheme. This study analyzed the production, consumption, and trade impacts caused by each country`s emission trading schemes using a computable general equilibrium model under the assumption that the three countries will each implement an emissions trading scheme. The results from the emissions trading scheme integration are complicated in terms of impact on production, consumption, and trade. The main findings are as follow: The integration of Korean, Chinese, and Japanese emissions trading schemes could have positive impacts in reducing carbon leakage. Moreover, in the case that China fails to implement a greenhouse gas regulation, Korea and Japan could face carbon leakage of around 30%. Therefore, the study has confirmed how important regulatory cooperation between the three countries could be in ensuring real greenhouse gas reduction effects. The potential integration of three emissions trading schemes demonstrate overall increases in gross domestic product (GDP). However, it also demonstrates reductions in household consumption, and the impact of integration could be very unbalanced between the countries. In particular, the reductions in domestic marginal costs are high in both Korea and Japan. Therefore, household consumptions in the two countries decrease despite increases in GDP because Korea and Japan will be purchasers of emissions rights. China, on the other hand, will experience the opposite. The unbalanced impacts on real household consumptions are intensified when emission credits are allocated via paid auctions instead of free allocation. This was demonstrated to be the case because the circumstances of three countries are intensified when using a paid emissions credit allocation scheme, and their differences could potentially hinder the cooperation between the three countries. Under the free allocation scheme, the emission trading schemes` unbalanced impacts on consumption could be mitigated, but unavoidable negative impacts of free allocation schemes are also serious. In the case of Korea and Japan, the adoption of an international emissions trading scheme could induce increases in CO2 emissions and energy consumption, despite the positive impact of reducing the cost of greenhouse gas reduction, due to more affordable carbon prices. This could bring about negative long-term impacts through increased reliance on energy imports, inflation, employment loss, and delays in the implementation of low-carbon industrial structures. Discounting emissions credits and levying import duties on emission credits were found to be effective policy tools in mitigating the negative impacts of carbon market integration. Based on the analysis results, Korea, China, and Japan will individually face complicated impacts if their carbon markets are integrated. Although the GDP of three countries will increase as a result of carbon market integration, the benefits of integration will surely be unbalanced, and the three countries will experience negative impacts in terms of actual consumption or employment. In particular, increases in income and consumption, reductions in employment, and energy dependence by credit purchasers (Japan and Korea) and production reduction and possibility of offshoring faced by revenue producing countries (China) could serve as a barrier to carbon market integration. To maximize the positive influences of carbon market integration while reducing the risks of negative side effects, the development and application of complimentary policy tools, such as import duties or discounts for emissions credits, are required. Korea should review market integration methods, such as Japan`s Bilateral Offset Credit Mechanism, to promote the export of highly competitive national low-carbon technologies. If integration with international carbon markets is pursued under the premise that national emissions trading schemes will be adopted in the near future, the government must prepare for negative side effects, which include consumption, employment, and inflation, and it must work to simultaneously promote greenhouse gas reduction and economic growth by systematically designing and applying a variety of complimentary policy measures.

국내 배출권거래제도의 효율적 운영과 국제거래시장에의 편입

김인호(Kim Inho) 법무부 국제법무정책과 2013 통상법률 Vol.- No.114

Climate change is a global concern. Efforts at the global level to reduce greenhouse gases appear stalled due to conflicting political and economic interests. Korea has introduced emissions trading scheme to be implemented in 2015, which would concretize its policy of low carbon green growth to fulfill its responsibility in international community. Emissions trading scheme is a market-based mechanism to internalize the pollution costs externalized to society and the environment. Policy considerations are inevitably interwound in operating emissions trading scheme. Industries complying with emissions trading scheme might take strategic responses to resist or avoid the scheme in fear of relatively weakened competitiveness to their non-complying counterparts. It is time for Korea to remove their concerns and to play a role in international community by operating a robust and reasonable scheme. If policy coherence is ensured across the different policies, the policy goal of greenhouse gas reduction could be efficiently achieved by emissions trading scheme coupled with a policy promoting renewable energy. Emissions trading scheme has been critiqued by some political and business circles. However, the European and U.S. regional experience suggests that once a system is operating it generates some sustaining momentum by itself. The regulated industries also prefer emissions trading scheme to a command and control regulatory system or a pollution tax. The details of the scheme in terms of the laws and regulations should be developed and refined with over time. But it is evident that as markets can play a role in environmental regulation emissions trading scheme will grow internationally. Linkage with other schemes would promote emissions trading across jurisdictions, which enables markets to serve to play a broader role. The aim of emissions trading scheme should be to reduce carbon emissions but at the same time reduce costs. The scheme should embrace both economic growth and environmental benefit. Korean emission trading scheme, which is stable and efficient, linked with other schemes could implement policy goal of low carbon green growth and contribute to greenhouse gas reduction internationally.

배출권 국제거래의 증진을 위한 조화로운 준거법의 추구

김인호 대한변호사협회 2016 人權과 正義 : 大韓辯護士協會誌 Vol.- No.459

온실가스 감축을 위한 국제적 노력의 하나로 배출권거래제가 시행되고 있다. 우리나라도 2015년부터 시장기능을 통하여 효율적으로 온실가스의 감축이라는 환경문제를 해결하는 제도로 평가되는 배출권거래제를 시행하고 있다. 배출권거래제가 국제적으로 확산됨에 따라 배출권의 국제거래를 통하여 배출권거래제의 순기능을 보다 넓은 시장에서 실현할 수 있게 되었다. 배출권의 국제거래가 이루어지면 국제사법 규칙을 통하여 외국적 요소가 있는 법률관계에 적용될 준거법을 결정하여야 한다. 우선 배출권이라는 새로운 거래 대상에 대한 성질결정과 배출권거래의 계약적 법률관계와 물권적 법률관계를 구분하여 이에 대한 준거법의 검토가 필요하다. 배출권의 국제거래에 대한 통일된 또는 적어도 조화로운 준거법의 모색을 통하여 배출권의 국제거래의 증진을 도모할 수 있을 것이다. 배출권을 동산으로 보아 계약적 법률관계에 대하여는 국제물품매매계약에 관한 국제연합협약의 적용을 통하여, 물권적 법률관계에 대하여는 동산물권의 준거법인 소재지법을 유추한 배출권등록지법의 적용을 통하여 통일적이고 조화로운 규율을 함으로써 배출권의 국제거래의 예측가능성을 높여 거래비용을 줄임으로써 그 증진에 기여할 수 있을 것으로 기대된다. 이와 같은 접근에 기초하여 배출권거래 및 배출권의 국제거래에 관하여 필요한 구체적 규정이 미비한 우리나라 배출권거래법제를 정비하는 것은 나아가 온실가스 감축이라는 국제적 문제를 해결함에 있어 국제사회에서 책임 있는 국가로서 배출권의 국제거래의 증진에 기여하는데 긍정적 역할을 할 것으로 기대된다. 또한 궁극적으로 배출권의 국제거래에 적용될 실질법의 국제적 통일이 필요하고 위의 모색은 이를 실현하는 기초가 될 것이다. 배출권의 국제거래의 효율적 증진을 위하여 배출권거래에 대한 국제사법적 규율이 보완되어 나가야 할 것이나 배출권의 국제거래가 확산될 것임은 분명하다. 배출권의 국제거래의 활성화는 보다 넓은 범위에서 시장기능을 통하여 비용효율적으로 온실가스 감축을 달성할 수 있게 하는데 기여할 것이다. 이 연구가 보편화되고 일상화된 배출권의 국제거래를 경험하는데 기여할 수 있기를 기대한다. Emissions trading schemes have evolved as a response to efforts at the global level to reduce the impact of climate change. In 2015 Korea has also introduced emissions trading scheme, which would lead to reduction of greenhouse gases by internalizing the pollution costs through market function. With the proliferation of emissions trading schemes their positive function would be materialized through international emissions trading in a wider ambit. In international emissions trading the applicable law would be determined by virtue of the rules of private international law. The first step in determining the appropriate private international law rules to apply is characterization with respect to emission allowances, contractual and proprietary elements of the transaction. The pursuit of unified or harmonized governing law for the international emissions trading would promote the development of international trade. Delimitation between matters of contract and those of property is essential in applying the correct choice of law rule. It would be possible to classify the emission allowances as personal property to fall under the governance of CISG for contractual matters and to be subject to the law of the place of registration as an analogy of the law of situs for proprietary matters. This unified or harmonized approach could enhance legal certainty, reduce transaction costs, and promote the international emissions trading. To refine Korean emissions trading scheme based upon this approach would play a positive role in fulfilling its responsibility to combat climate change in international community. Rather than grappling with conflict rule efforts should be channeled to unify or harmonize substantive law rules in the end. It is evident that emissions trading scheme will grow internationally. The international emissions trading would achieve cost-efficient reduction of greenhouse gases by employing cross-border market function. This research could be a contribution in promoting the international emissions trading.

배출권거래제를 통한 녹색기술 촉진 방안

최선영 한국환경법학회 2022 환경법연구 Vol.44 No.3

In order to achieve ultimate carbon neutrality, it is necessary to convert high-carbon energy and industrial structure into low-carbon energy and industrial structure by using green technology. On the other hand, the Emission Trading Scheme encourages the use of greenhouse gas reduction through green technology by allowing economic benefits. The Emission Trading Scheme allows greenhouse gas reduction using green technology to be converted and traded with external reduction certification and offset emission rights, or excludes greenhouse gas emissions when calculating. It also stipulates economic support for the development of greenhouse gas reduction technologies and the installation of facilities. However, currently, the Emission Trading Scheme does not the function of promoting the development and utilization of green technology. the Emission Trading Scheme is not activated so Emissions are not actively traded. And the Emission Trading Scheme just provide economic support for only facility installation, although It has regulations of economic support for the development of greenhouse gas reduction technologies. Accordingly, So the Climate Response Fund have to provide more actively economic support to development of green technologies by companies subject in the Emission Trading Scheme. Because Innovative development of green technology is necessary. And the exclusion regulation for calculating greenhouse gas emissions should be specified in the Emissions Trading Act to ensure legal safety. Also, the classification of greenhouse gas reduction technologies should be listed in the Emissions Trading Act enforcement ordinance for enforcement of enhance predictability and legal safety. In addition, it is necessary to give the benefit of recognizing the greenhouse gas reduction of CCS technology to be commercialized soon in the Emission Trading Scheme. Furthermore, for green-house gases were leaked after green technology reduce green house gas, the Emissions Trading Act have to prescribe regulation to the purchase of emission rights and differential purchase regulation to whether the business operator's obligations to prevent leakage are fulfilled. 궁극적인 탄소중립 달성을 위하여 녹색기술을 활용해 고탄소 에너지 및 산업구조를 저탄소 에너지 및 산업구조로 전환해야 한다. 한편, 배출권거래제에서는 녹색기술을 통한 온실가스 감축분으로 경제적 이익을 얻을 수 있도록 하여 활용을 촉구하고 있다. 배출권거래제에서는 녹색기술을 활용한 온실가스 감축분을 외부감축 인증량과 상쇄배출권으로 전환하고 거래할 수 있고 온실가스 배출량 산정 시 제외해주기도 한다. 또한 온실가스 감축 기술의 개발과 설비설치에 경제적 지원을 하도록 규정하고 있다. 그러나 현재 배출권거래제는 녹색기술의 개발과 활용을 촉진하는 기능을 제대로 수행하고 있지 못하다. 배출권거래제가 활성화되지 않아 활발하게 배출권이 거래되지 않으며, 온실가스 감축 기술 개발에 경제적 지원에 대한 명문의 규정이 있음에도 설비설치에만 경제적 지원이 되는 실정이다. 이에 기후대응기금 내에 배출권거래제 할당대상업체의 녹색기술에 대한 혁신적인 개발을 위한 지원을 명시하여 더욱 적극적으로 녹색기술 개발에 경제적 지원을 하도록 하여야 한다. 그리고 온실가스 배출량 산정 제외 규정을 배출권거래법에 명시하여 법적 안전성을 보장하고, 더불어 배출권거래법에 온실가스 감축 기술 활용의 법적 근거와 시행령에 온실가스 감축 기술의 분류를 열거하여 사업자의 예측 가능성과 법적 안전성을 제고시켜야 한다. 또한 곧 상용화를 앞둔 CCS 기술의 온실가스 감축분을 배출권거래제 내에서 인정해주는 혜택을 주어야 한다. 더 나아가 온실가스 감축 기술로 감축한 이후 재배출되었을 시, 그에 대한 배출권 구매에 관한 규정과 누출 방지를 위한 사업자의 의무 이행 여부에 따른 차등 구매 규정을 마련하여야 한다.

기후 변화 관련 해외 소송 사례 및 시사점 ―배출권 거래제를 중심으로―

최지현 ( Gina Jeehyun Choi ) 한국환경법학회 2016 환경법연구 Vol.38 No.1

There have been multifaceted disputes and controversies surrounding implementation and operation of the emissions trading scheme in countries and regions where a debate on the emissions trading scheme was initiated earlier. As a newly introduced legal system is hard to be perfect, disputes concerning such system`s defects or operational problems will often arise especially in the early stage. In the course of resolving the disputes, the court`s law-making through interpretation of statutes and subordinate administrative legislations will certainly generate some positive effects including elimination of legal uncertainties and improvement of the system. At the same time, however, frivolous disputes may delay early stabilization of the system and prolong uncertainties in the emissions trading market. In this regard, it is necessary to review major contentious issues raised and resolved in the course of disputes and any systematical changes made based on such disputes in other jurisdictions where the scheme went into effect earlier, to seek for the desirable ways to conclude pending disputes in Korea as well as their future implications regarding design and operation of the emissions trading scheme. In this paper, cases subject to review are classified into (i) disputes over the fundamentals of the system at issue, i.e. constitutionality, validity, and necessity of the system`s introduction, (ii) disputes over legality of allowances or their calculation process, (iii) disputes over other procedural issues regarding operation of the scheme, such as extraterritorial application of the scheme, civil disputes between private parties, criminal cases pertaining to the scheme, and administrative surcharge impositions due to a failure to comply with the obligation to under the emissions trading scheme. This paper will review implications of each dispute in terms of the emissions trading scheme`s goal of greenhouse gas reduction and the direction and operational process of the scheme as a means to achieve such goals, from a perspective of either domestic or international environmental law.

배출권거래제에서의 부당내부거래 규제 가능성에 대한 연구

김정욱,위서연,유성희 제주대학교 법과정책연구원 2019 法과 政策 Vol.25 No.2

The Emission Trading Scheme is one of the environmental policies proposed as a long-term reduction plan to reduce greenhouse gas emissions, in response to climate change. Since expiration of the primary planning period at the end of 2017, companies that had previously been granted free chartering, are burdened to purchase a portion of their emissions credits. At the same time, supply and demand imbalances exist due to companies that hold onto the emission permits or consider it as a means of speculation, in anticipation of permit price increases. Therefore, when a company or its subsidiary company does not have sufficient emission permits, it often prefer to trade permits with their own subsidiary companies rather than with third parties. However, not all intra-group tradings have positive effects. It may be used as a means of expedient succession of management rights, or provide concentrated economic power to a small number of companies. The results of the statistical analysis on the intra-group trading behavior show that the price in the ‘intra-group negotiated trading’ is 7% higher than the non- negotiated trading, and it is likely to show a significant difference from the normal price. In other words, unfair intra-group trading within the emission trading scheme may be applied to Fair Trade Act and be concluded unlawful should it not conform with all the necessary fair trade requirements. In order to achieve the ultimate goal of the emission trading scheme, which is to ‘efficiently achieve GHG reduction through the market mechanism’, this paper analyzes the emission trading scheme with legal and economic aspects of unfair intra-group trading practices, and whether such practices can be subject to regulations under the Fair Trade Act. 배출권거래제는 온실가스를 감축하여 기후변화에 대응하고자 장기적인 감축방안으로 제시된 환경정책 중 하나이다. 다만 2017년 말에 1차 계획기간이 종료되면서, 종전에 배출권을 무상할당 받았던 기업들이 이제는 배출권 중 일부를 경매로 구입해야 하는 부담이 발생하였다. 이와 동시에, 가격 상승을 예상하여 배출권을 시장에 내놓지 않거나 투기의 대상으로 여기는 기업으로 인하여 수급불균형이 일어나고 있다. 이에 따라 기업들은 기업 또는 소속계열회사의 배출권이 부족한 경우에 제3자와의 거래보다는 해당 기업의 계열회사와의 내부거래를 선호하는 현상이 발생하는 것이다. 특히 우리나라의 경우, 기업이 재벌구조로 이루어진 특성을 갖고 있어 내부거래행위의 발생 가능성이 크다. 그러나 모든 내부거래 행위가 긍정적인 효과를 내지는 않는바, 편법적인 경영권 승계의 수단으로 사용하거나 소수 기업집단에 경제력이 집중되는 등 거래질서가 저해되는 문제가 발생할 수 있다. 구체적으로 회사 계열사 간 거래를 통해 배출권을 시장가격보다 싸게 혹은 비싸게 거래함으로써 영업이익이 과소 또는 과대하게 나타나는 문제가 발생할 수 있다. 내부거래 행위에 대한 통계분석의 결과를 보더라도 ‘그룹 내 협의 거래’에서의 가격이 비협의 거래에 비하여 7% 정도 높은 것으로 나타나면서 정상가격과 상당한 차이를 보일 가능성이 크다. 즉, 배출권거래제에서도 공정거래법상의 부당내부거래 행위 금지에 관한 규정이 적용되고, 일정한 제한 요건을 충족하면 동법에 저촉할 수 있다는 점을 시사한다. 이러한 점을 바탕으로 하여, 본고는 ‘시장메커니즘을 통한 효율적 온실가스 감소’라는 배출권거래제의 궁극적인 목표를 달성하기 위한 세부방안으로서, 배출권시장의 거래질서를 보호하고 배출권 가격을 안정화하기 위하여 배출권거래제상의 부당내부거래 행위가 공정거래법상 규제의 대상이 될 수 있는지 여부에 관하여 법학적 및 경제학적 시각에서 분석・검토해본다.

WTO체제와 조화를 이루는 배출권거래제도의 설계

김홍균(Hong Kyun Kim) 서울국제법연구원 2012 서울국제법연구 Vol.19 No.1

배출권거래제도(Emission Trading Scheme)를 도입하고 있는 국가의 대부분이 유럽연합(EU)에 불과하고 우리나라의 주된 경쟁 상대인 미국, 일본 등이 도입하고 있지 않은 상황에서 우리나라가 섣불리 배출권거래제도의 도입을 추진하는 것은 국가 경쟁력 차원에서 바람직하지 않을 수 있다. 그러나 국제사회로부터 우리나라가 온실가스(greenhouse gas) 감축의무 대상국에 포함되어야 한다는 압력이 가중되고 있고, 국제무대에서 우리나라가 어느 정도 기후변화 대응에 선도적인 노력을 기울일 필요가 있다는 점에서 기후변화 문제에 마냥 두손놓고 있을 수도 없다. 이러한 점을 모두 고려할 때 경쟁력 약화를 이유로 그리고 산업계의 입장에 휘둘려 배출권거래제도에 소극적이기 보다는 경쟁력을 유지하는 방향에서 전향적으로 배출권거래제도의 도입을 검토할 필요가 있다. 배출권거래제도와 같은 기후변화 대응정책의 선택이 불가피한 상황에서 배출권거래제도를 도입·시행하기 위해서는 그 제도가 효율적으로 운영될 수 있도록 정치한 설계가 필요하다. 2012년 5월 2일 국회를 통과한 「온실가스 배출권의 할당 및 거래에 관한 법률」에는 우리나라 산업의 경쟁력 저하를 해결하기 위한 조치를 발견하기 힘들고 국제통상법적 분쟁을 막기 위한 장치는 미흡한 것으로 파악되고 있다. 이에 미국 리버만 워너 법안(Lieberman-Warner Climate Security Act of 2008)에서 도입하고 있는 수입제품에 대하여 그 제품의 생산과정에서 배출된 온실가스의 양에 해당하는 배출권을 구입해서 제출하도록 하는 조치(배출권 구입 요건)는 충분히 검토할 만한 것이라고 할 수 있다. 그러나 이러한 요건은 일방적인 무역규제적인 요소를 갖추고 있기 때문에 도입 시 혹시 발생할지 모르는 통상분쟁을 막기 위한 장치를 마련하는 것이 필요하다. 배출권 구입 요건이 탄소유출(carbon leakage)의 방지, 온실가스의 감축, 기후변화의 방지를 주된 목적으로 할 경우 GATT 예외 규정에 의해 정당화될 수 있다고 판단된다. 그러나 국내 산업의 경쟁력 저하 문제를 해결하는 데에 초점이 맞추어져 있다면 이는 보호주의에 다름 아니며, 정당성이 떨어지는 일방적 조치에 불과하다. WTO체제에 부합하게 배출권 거래제도를 정치하게 설계하더라도 그 적용이 자의적(arbitrary)이고 부당한 차별(unjustifiable discrimination)을 구성할 경우에는 통상분쟁이 발생할 수 있다. 이러한 점을 고려할 때 우선 해당 조치를 시행하기 전에 외국과 먼저 충분하고 진지한 협상을 시도할 필요가 있다. 의사결정에 영향을 받는 국가의 참여, 심리 및 반론기회의 제공, 심사 및 이의절차의 제공, 승인·거부 등에 대한 서면통보, 적절한 공개 등을 보장함으로써 절차의 투명성, 공정성, 합법성, 예측가능성을 향상하는 것이 중요하다. It may not be a wise idea in terms of national competitiveness to introduce the Emission Trading Scheme into Korea when its main rival states, such as the US and Japan has not yet induced the Scheme into their countries. The only countries that have imported the Scheme are those from the European Union (EU). However, the increase of international pressure pushing Korea to mandatorily decrease the amount of greenhouse gas makes it harder for Korea to solely ignore the problem on climate change. Regarding all this, rather than condemning the Scheme and being tossed around by the industries` views, it is necessary to seek a way to introduce the Emission Trading Scheme while at the same time maintaining Korea`s national competitiveness. In order to introduce the Scheme and fully practice it as well in such a situation, there must be a delicate plan that will enable efficient operation of the Scheme. It is hard to find any measures that can solve the problem of declining competence of Korea`s industry in the current law related to the Emission Trading Scheme. The law also lacks any device that can block dispute regarding the international trade law. It would be helpful to look into the ``conditioning access to domestic markets on the purchase of GHG emission allowances`` adopted by the Lieberman-Warner Climate Security Act of 2008. However, since such buy-in requirement has an element of unilateral trade restriction, it is necessary to prepare for trade disputes through additional devices. If the buy-in requirement aims to prevent carbon leakage, reduce greenhouse gas and prevent climate change, it can be justified through the GATT Article XX`s exceptions. However, if it mainly aims to solve the problem of national competence, it can be regarded no more than a protectionism, thus it loses justification. Even if the WTO regime plans the Emission Trading Scheme quite delicately, if it forms arbitrary and unjustifiable discrimination, then it also may cause trade disputes. Regarding this, it is necessary to give serious and good faith attempts at negotiation with foreign countries before enforcing the measure. It is important for countries concerned to participate, provide opportunity to be heard and to respond, provide procedures for review or appeal, give opportunity to notify approval or denial, maintain transparency, equity, constitutionality, and predictability through appropriate level of publicity.

배출권의 정의 및 재산권성에 대한 법적 고찰

강현호 ( Hyun Ho Kang ) 한국환경법학회 2011 환경법연구 Vol.33 No.1

Since Kyoto Protocol has come on effect, the emissions trading scheme goes forward step by step. Korea has prepared for the carbon regime and made an act on allocation and trading of greenhouse gas emissions rights. Maybe after upcoming carbon emissions trading period or not long after that period, Korea, which is a member of OECD and the big carbon emiting country ranked 8th in the world, would be an obligatory country to introduce the emissions rights trading scheme. For this process we can easily guess, when we think over Korea`s development neveau in technology and its position and stance in international order. In this megatrend it is a good chance to be a leading country in this new international regime through issuing the most developed act on allocation and trading of greenhouse gas emissions rights. For this purpose it is the shortest way that the proposed act on allocation and trading of greenhouse gas emissions rights should be enacted properly in accordance with constitutional principles and due process of law. To guarantee this the following suggestions should be fulfilled: Firstly, it is necessary to define the meaning of the term of the act ``emissions rights`` clearly. It is strongly recommended to make the meaning of the term in legal aspect apparently that ``emissions rights`` are rights to emit in the air 1 ton of carbon or rights to emit the equivalant to 1 ton of carbon. Secondly, it is needed to accord the nature as property rights to ``emissions rights``. The reason to deny the character of ``emissions rights`` as property rights comes not from absolute legal theories but is based on the administrative effectiveness related to compensation. In this standpoint it is the suitable flow of legal discussion that the character of ``emissions rights`` as property rights should be accepted first and then the supplementary methods to promote the administrative effectiveness should be found. Thirdly, according to the essential theory in the area of delegation of power for the administrative action the allocation of ``emissions rights`` should be written in the formal law itself, especially the guidelines for the allocation of ``emissions rights``. But the proposed act allowed to rule the guidelines for the allocation through administrative legislation. These kinds of delegation of power to the administrative branches bring about the legal problem concerning constitutionality. I think that Korea might be a leading country in the new regime of trading of ``emissions rights``, if we supplement these disputes regarding the proposed act.

배출권거래제 도입에 따른 자본시장법의 적용상 한계와 개선방안

김도경(Kim, Do Kyung),윤용희(Yoon, Yong Hee) 한국증권법학회 2010 증권법연구 Vol.11 No.1

우리나라는 교토의정서 체제가 종료된 이후인 2013년부터 온실가스 의무감축국이 될 가능성이 매우 높고, 그 연장선상에서 2010년 1월 13일 ?저탄소 녹색성장 기본법?을 제정하였다. ?저탄소 녹색성장 기본법?에서는 온실가스를 감축하는 방법으로서 온실가스 배출허용총량을 설정하고 배출권을 거래하는 제도(이하 ‘배출권거래제’)의 실시를 위한 배출허용량의 할당방법, 등록·관리방법 및 거래소 설치·운영 등은 따로 법률로 정하도록 하고 있으므로(제46조), 현재 녹색성장위원회를 중심으로 배출권거래법의 제정에 힘쓰고 있다. 그러나 배출권거래제를 도입함에 따라 검토해야 할 법률적인 쟁점들은 헌법·행정법·조세법 등 공법분야, 민법·상법·도산법·국제사법·자본시장법 등 사법분야, 나아가 국제법을 비롯한 거의 모든 법 체계에 산재해 있고 각 법적 쟁점들은 서로 긴밀하게 연결되어 있기도 하다. 필자들은 이와 같이 배출권거래제가 기존의 법체계에 미치는 다양한 영향 중 특히 자본시장법에 미치는 영향을 중점적으로 검토하였다. 또한 배출권거래제가 기존에 존재하지 않았던 새로운 법제도라는 점에 착안하여 ‘배출권거래제’에 대한 전반적인 설명과 함께 자본시장법상 논점 정리를 위한 기초이자 모든 사법영역에 있어서 논의의 전제가 되는 ‘배출권의 개념설정과 법적 성질의 검토’에 자본시장법상의 쟁점과 함께 많은 지면을 할애하였다. 필자들은 자본시장법상 논의의 전제가 되는 배출권의 개념은 “배출권거래법에 따라 배출허가를 받은 배출시설에서 특정 기간 동안 1톤의 이산화탄소 또는 이에 상응하는 온실가스를 배출할 수 있는 권한(으로서 양도될 수 있는 것)”으로, 배출권의 법적 성격은 “배출권거래법에 의하여 창설되는 새로운 무체재산권으로서 물권 유사의 보호가 필요한 권리”로 결론지었다. 또한 자본시장법상 배출권이 금융투자상품에 해당하는지에 관한 국내 학자들의 견해를 종합한 뒤, 이 글에서 결론을 내린 배출권의 정의와 법적 성격 전제하에서, 배출권은 자본시장법상 금융투자상품의 요건을 충족하기는 하나 증권이 되기는 어렵기 때문에 결론적으로 금융투자상품이 될 수 없다는 결론에 이르렀고, 현행법의 해석론상으로는 배출권을 파생결합증권이나 파생상품의 기초자산으로 보기도 어렵다는 결론에 이르렀다. 이러한 결론과 더불어 입법론적인 제안으로 배출권은 금융투자상품이 아니라는 점을 명확히 할 필요가 있다고 생각하고, 새로 제정될 배출권거래법과 자본시장법의 개정을 통하여 배출권이 기초자산의 범위에 속하도록 할 필요가 있음을 피력하였다. 이러한 전개에 부수하여 자본시장법상 추가적인 쟁점들인 배출권과 관련된 금융업무의 범위, 집합투자 및 신탁대상 자산의 해당 여부, 한국거래소의 위치에 대하여 추가적으로 살펴보고 입법론적인 제안을 하였다. After the expiration of Kyoto Protocol, Korea is highly likely to be designated as a member of Annex I countries. To this end, Korea promulgated ‘Master Act for Low Carbon and Green Development’ on January 13, 2010 (the “LCGD Act”). LCGD Act established a permissible emission rate for green house gases as a means to reduce the green house gases. LCGD Act also calls for an implementation of trading of emission rights (the “Emission Rights Trading”) and requires allocation method of permissible emission rate, registration and application method, and establishment and operation of a trading exchange for the Emission Rights Trading to be governed by a separate set of laws. Currently, Green Development Committee is putting much efforts into enacting laws regarding the Emission Rights Trading. In adopting the Emission Rights Trading, however, there are a number of issues that need to be resolved, from public laws such as constitutional law, administrative law and tax law as well as private laws such as civil law, commercial law, insolvency law and international private law. Among the various areas of laws which will be impacted by the Emission Rights Trading, this article will review the Emission Rights Trading specifically in light of Financial Investment Services and Capital Markets Act (“FSCMA”). Given that the Emission Rights Trading is a newly introduced concept, this article will first review the Emission Rights Trading in general, followed by the issues arising from the FSCMA. Simply put, this article has summarized the concept of an emission right to be “a transferable right to emit carbon dioxide or its equivalent green house gases of up to 1 metric ton within a certain period by an authorized emission facility in accordance with Emission Trading Act. In legal terms, an emission right is “an intangible right newly created in accordance with Emission Trading Act” that requires legal protection applicable to a real property right (“mool?kwon” in Korean) or its equivalent.” This article will also discuss various views from scholars and commentators on whether an emission right under the FSCMA qualifies as a financial investment product. This article reached a conclusion that an emission right cannot be classified as a financial investment product in light of the legal concept and the terms reviewed in this article, and also reached a conclusion that an emission right cannot be the underlying asset of a derivatives product or derivatives?linked securities. With these conclusions, this article makes suggestions, as a legislative matter, that it is necessary to clarify that an emission right does not qualify as a financial investment product and that it is necessary to include the emission right within the scope of underlying assets under the Emission Trading Act and through an amendment to the FSCMA. Additionally, this article will identify and discuss some issues arising under the FSCM A in connection with the emission right including whether emission rights trading falls within the scope of financial services, how the Korean exchange market for emission rights should be established, and whether the emission right qualifies as a trust asset or collective investment asset, together with several legislative suggestions.

배출권거래제에서 무상할당 비율을 낮추는 것이 항상 바람직한가?: 한계 비효율성의 관점에서

강판상,이지웅 한국환경경제학회 2024 자원·환경경제연구 Vol.33 No.2

많은 국가에서 배출권거래제를 도입할 때 기업의 급격한 비용부담을 완화하고 정책의 수용성을 제고하기 위해 도입 초기에는 높은 비율로 무상할당을 시행하고, 이후에는 탄소누출의 위험을 고려하며 점차 그 비율을 낮추어 가는 것이 일반적이다. 이는 ‘오염자 부담 원칙(Polluter-Pays Principle)’에 따른 것으로, 낮은 무상할당 비율을 고도화된 배출권거래제의 요소 중 하나로 흔히들 간주한다. 이에 본 연구는 배출권 시장이 완전경쟁시장이 아닌 경우, 무상할당 비율을 낮추는 것이 한계 비효율성의 관점에서 바람직하지 않을 수 있음을 간단한 배출권 시장 모형을 통하여 확인한다. 특히 특정 시장 조건에서 배출권 시장의 왜곡으로부터 초래되는 비효율성을 최소화하는 무상할당 비율이 존재함을 입증함으로써 낮은 무상할당 비율이 반드시 배출권거래제의 개선을 의미하는 것은 아님을 보인다. In introducing emissions trading schemes, many countries start with a high level of free allocation to reduce the sudden cost burden on companies and increase acceptance of the policy. The free allocation is then gradually reduced, considering the risks of carbon leakage. This aligns with the “polluter pays” principle and is often considered one of the elements of an advanced emissions trading scheme. In this context, this study uses a simple emissions trading market model to show that decreasing the free allocation rate may not be desirable if the emissions market is not perfectly competitive. In particular, by identifying the existence of a free allocation rate at which the cost inefficiency is minimized, this study demonstrates that having a low level of free allocation does not necessarily imply the improvement of the emissions trading scheme.