Oct
6
Proposal of Focused Topic: Iceland & the EU ETS
October 6, 2010 | Leave a Comment
I. Abstract
The following is an examination and recommendation of the legal restructuring necessary for Iceland to emerge from the current financial crisis with a strong economy structured around the restoration of- (1) fishing stocks, (2) wetlands, and (3) the implementation of the European Union Emissions Trading Scheme. While addressing the most profitable and sustainable approaches to rebuilding Iceland’s economy, this paper will simultaneously identify the challenges that emerge, and the legal framework that is necessary to ensure minimal exploitation of Iceland’s natural resources.
II. Introduction
(a) Restate Thesis with topic summary
III. Wetlands Restoration
(a) Challenges – Abundant scholarly research, but policy incentives to conserve wetlands are lacking at present.[i]
(b) Legal history[ii]
(c) Recommendation for Iceland to restore drained and degraded wetlands as means of reducing carbon, nitrous oxide and methane from the atmosphere. Also a proposal of an additional way for countries to meet their EU ETS mitigation commitments.
IV. Fishing Stock Restoration
(a) Challenges – public opposition. In order to restore fishing stocks, there must be strict government regulation. But citizens and politicians are also wry of outside intervention in national fishing matters, and fears are often publicly expressed that joining the EU will cause outside intervention in national quota laws[iii]. Public distrust is exemplified by a long history of fishing “wars” with the United Kingdom, most famously the Cod-wars[iv]. Currently, Iceland is engaged in a dispute with Scotland and the Faeroes over mackerel.[v]
(b) Legal history[vi]
(c) Recommendation to restore fishing stocks through stricter regulation, while simultaneously ensuring that national laws are in place which protect Iceland’s fishing interests before the country joins the EU.
V. Hydro- and Geothermal energy “exploitation”
(a) Challenges
(i) Public opposition to joining the European Union. There is fear of outside regulation, especially of regulations on fishing quotas and whaling. But joining the EU could ensure vital legal restrictions on excessive external exploitation of geothermal extraction[vii] through the full implementation of the EU Environmental Trading Scheme (ETS).[viii] Fully implementing the EU ETS would also give Iceland further incentive to ease their dependency on renewing business contracts with ALCOA, and the planned expansion of aluminum smelters throughout Iceland[ix], which have devastating impact on local farming communities. However, Iceland will not join the EU unless Icelanders support it in a referendum which may be held in late 2011 or early 2012. According three polls conducted by Gallup between May and September 2010, between 54 and 69 percent of those asked oppose Iceland joining the EU.[x]
(ii) Iceland applied for membership to the EU in July 2009, negotiations started in July 2010 and the EU has opened accession talks. The European Commission recognizes that Iceland has already assimilated two-thirds of its national laws in accordance with EU laws. But progress has halted because the EU has demanded that Iceland resolve the continued dispute with the UK and the Netherlands over the money lost when the online Icesave bank collapsed in 2008.[xi] (Icelanders rejected a payment plan in a referendum held in March 2010. The UK and Dutch governments want Iceland to reimburse $5billion which they paid as compensation to Icesave investors.)[xii] The EU expects Iceland to implement more regulations on the financial system in order to qualify for membership. [xiii]
(b) Legal history[xiv]
(c) Recommendation for Iceland to join the EU, fully implementing the European Union Emissions Trading Scheme as a way to both profit from the extraction of natural resources, and regulate the amount of exploitation.
VI. Conclusion
[i] 1. “Third Informal Dialogue on LULUCF,” Landbunadur.is, accessed September 14, 2010, http://landbunadur.is/landbunadur/wgrala.nsf/key2/hhjn7etf6x.html
2. “Wetland Restoration; A Proposal for an Amendmentto Decision 16/CMP.1 on Land Use, Land-Use Change and Forestry adopeted by Decision 11/CP.7, “Ministry for the Environment,” www.coford.ie/iopen24/pub/workshop-Iceland.pdf
3. “Informal Data Submission on LULUCF to the Ad-Hoc Working Group on Fuerther Commitments for Annex I Parties Under the Kyoto Protocol (AWG-KP),” United Nations Framework Convention on Climate Change, accessed September 14, 2010, http://unfccc.int/files/kyoto_protocol/…/awgkplulucficeland081209.pdf
[ii] “Legislation,” Ministry for the Environment, accessed October 5, 2010, http://eng.umhverfisraduneyti.is/legislation/
[iii] “Why Is Britian Braced for a Mackerel War?” BBC World News, accessed August 25, 2010, http://www.bbc.co.uk/news/magazine-11062674
[iv] The Cod wars, or Þorskastríðin, was a series of territorial confrontations in the 1950s and 1970s regarding fishing rights in the Atlantic between the United Kingdom and Iceland. In 1976 Britian deployed naval vessels within the disputed waters and Iceland treatened to close the major NATO base in Keflavik—the dispute ended shortly thereafter. “1975: Attack on British vessels heightens Cod War,” BBC News, accessed September 22, 2010, http://news.bbc.co.uk/onthisday/hi/dates/stories/december/11/newsid_2546000/2546045.stm
[v] 1. “European Parliament Could Take Action In Mackerel Fish Row,” BBC News, accessed August 30, 2010, http://www.bbc.co.uk/news/uk-scotland-11126330
2. “Faroes and Iceland urged to back down over mackerel,” BBC News, accessed September 10, 2010, http://www.bbc.co.uk/news/uk-scotland-11199799
3. “Scottish fishermen are to boycott a meeting in the Faroe Islands over the host country’s decision to unilaterally increase mackerel quotas,” BBC News, accessed September 10, 2010, http://www.bbc.co.uk/news/uk-scotland-11199799
[vi] “Lagasafn,” Althingi.is, accessed October 4, 2010, http://www.althingi.is/vefur/lagasafn.html
[vii] “Forsetar Raeddu Orkumalin,” Morgunbladid,” accessed September 19, 2010, http://www.mbl.is/mm/frettir/innlent/2010/09/19/forsetar_raeddu_orkumalin/
[viii] “Establishing a Scheme for Greenhouse Gas Emission Allowance Trading Within the Community and Amending Council Directive 96/61/EC,” Official Journal of the European Union, accessed September 14, 2010, http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2003:275:0032:0032:EN:PDF
[ix] “Power Struggle,” The National Geographic Magazine.,” accessed September 22, 2010, http://ngm.nationalgeographic.com/2008/03/iceland/del-giudice-text.
[x] “Many Icelanders Keen on Adopting Euro, Mixed on EU,” Gallup,” accessed October 5, 2010, http://www.gallup.com/poll/118381/icelanders-keen-adopting-euro-mixed.aspx
[xi] “Grimsson Says Iceland Seeks Solution in Depositor Spat: Video,” Washington Post Online, accessed September 24, 2010 http://www.washingtonpost.com/wp-dyn/content/video/2010/09/14/VI2010091407299.html
[xii] “Iceland panel wants charges over 2008 bank collapse,” Reuters, Accessed September 12, 2010, http://www.reuters.com/article/idUSTRE68A1JP20100911
[xiii] “EU Enlargement: The Next Eight,” BBC World News, accessed September 14, 2010, http://www.bbc.co.uk/news/world-europe-11283616
[xiv] “Legislation,” Ministry for the Environment, accessed October 5, 2010, http://eng.umhverfisraduneyti.is/legislation/
