Permit trading is an environmental policy instrument that has received increasing levels of attention over recent years. Coming from the field of air quality management, with the European CO2 emissions trading system being the most prominent example, it enters new fields of application, such as land use policy and biodiversity protection, water quality and water quantity trading. This book gives an overview of these recent developments and discusses the possibilities and limits of permit trading in environmental policies. The advantages of permit trading are not only seen with respect to economic efficiency, which leads to achieving the environmental target at minimum cost, but also with respect to the instrument's environmental effectiveness. By setting a cap for the overall emissions, a given environmental target can be met. This makes permit trading an interesting case for many environmental fields where safeguarding the environmental target plays a dominant role. Against this background, permit trading is discussed in environmental policy fields, where it has not been considered before, for example, land use management, biodiversity protection and water trading. Permit Trading in Different Applications analyses the properties of permit trading: its possibilities and limitations, its design options and its restrictions on a more general level. It demonstrates how lessons learnt in established policy fields like air quality management can be transferred to new and emerging fields of application. This collection will provide students and practitioners in environmental sciences and policy with valuable research into instrument choice and design with respect to permit trading.

1.Introduction: Permit Trading - A Market-based Instrument enters New Fields of Application Bernd Hansjürgens and Ralf Antes Part 1: Emerging Emissions Tradings Schemes in Air Quality Management and Climate Policy 2. US Emissions Trading Markets for SO2 and NOx Dallas Burtraw and Sarah Jo Szambelan 3. The European Emissions Tradings System for Greenhouse Gases: Design, Initial Experience and Review Peter Zapfel 4. A European Perspective on Recent Trends in US Climate Policy Ulf Moslener and Bodo Sturm 5. SO2 Trading Pilot Projects in China and their Implications for a China-wide CO2 Emissions Trading System Miriam Schröder 6. Integrating Joint Implementation Projects for Energy Efficiency on the Built Enviroment with White Certificates in The Netherlands Vlasis Oikonomou and Wytze van der Gaast Part 2: Permit Trading in Land Use Management and Biodiversity 7. Transferable Permits in Spatial Planning: US Experiences and Lessons to Learn for Germany Christoph Schröter-Schlaack 8. Applying Tradable Permits to Biodiversity Conservation: Design Issues, Modelling and Policies Frank Wätzold, Martin Drechsler, Florian Hartig and Silvia Wissel 9. Possibilities to Reduce Tropical Deforestation by Carbon Funding - General Reflections and Examples from Bolivia Robert Müller 10. The Introduction of the Landfill Allowance Trading Scheme: Permits in a Public Sector Environment Glyn D. Jones Part 3: Water Trading and Water Quality Trading 11. Tradable Permits - Instruments to Manage Water Scarcity? Some Australian Experiences Henning Bjørnlund 12. California's Water Market: Lessons from the Field Ellen Hanak 13. Water Quality Trading: Theoretical and Practical Approaches Marianne Strunz 14. Nutrient Trading in the Chesapeake Bay Watershed: Opportunities and Obstacles Thomas W. Simpson Part 4: Overarching Design Options and Conclusions 15. Collective Liability in Nonpoint Source Pollution Mourad Ali and Patrick Rio 16. New Modes of Governance to Tackle Climate Change - The Case of the Clean Development Mechanism Gudrun Benecke 17. Permit Trading in Different Applications - Concluding Observations Bernd Hansjürgens