Useful links
Unit of study_
LAWS6342: Environmental Markets in Global Context
2026 unit information
Environmental markets, also known as market-based instruments (MBIs), are now central to the governance of climate change, biodiversity loss, water scarcity and natural resource management. This unit adopts a global and comparative perspective to critically examine how MBIs are designed, implemented, and contested across diverse ecological, legal and institutional contexts. These are not free markets, but legally constructed systems that integrate economic incentives with regulatory oversight to influence environmental behaviour. Examples include emissions trading schemes, biodiversity offsets, water entitlements and tradable pollution permits. Focussing on international frameworks (such as Article 6 of the Paris Agreement), regional systems (including the EU Emissions Trading Scheme), and national case studies (such as New Zealand’s fisheries quota regime and biodiversity MBIs in Australia), the unit investigates how MBIs operate in real-world settings and what challenges they face. While often promoted as efficient solutions, MBIs raise complex questions about ecological effectiveness, distributive fairness and legal design. Students will engage critically with legal and economic theory, analyse applied case studies and develop the research and communication skills required to navigate and evaluate environmental markets in a globally interconnected world. Refer to the Sydney Law School timetable - https://canvas.sydney.edu.au/courses/4533/pages/postgraduate-lecture-timetable
Unit details and rules
Managing faculty or University school:
Sydney Law School
| Study level | Postgraduate |
|---|---|
| Academic unit | Law |
| Credit points | 6 |
|
Prerequisites:
?
|
None |
|---|---|
|
Corequisites:
?
|
None |
| Prohibitions:
?
|
None |
| Assumed knowledge:
?
|
None |
At the completion of this unit, you should be able to:
- LO1. Critically analyse how environmental issues are regulated through MBIs, identifying their assumptions and limitations.
- LO2. Describe to an advanced level the regulatory characteristics of environmental markets and the underpinning considerations for their design ensuring effectiveness and compliance.
- LO3. Compare and assess how MBIs operate across jurisdictions in the Global North and South, and evaluate environmental markets in terms of justice, legitimacy, and ecological integrity.
- LO4. Examine and differentiate the roles of governments, communities, Indigenous peoples and private actors in shaping and contesting market mechanisms.
- LO5. Communicate and defend personal perspectives on environmental markets, MBIs, and environmental regulation by employing sound and logically structured legal argument and be prepared to share these with diverse audiences
Unit availability
This section lists the session, attendance modes and locations the unit is available in. There is a unit outline for each of the unit availabilities, which gives you information about the unit including assessment details and a schedule of weekly activities.
The outline is published 2 weeks before the first day of teaching. You can look at previous outlines for a guide to the details of a unit.
| Session | MoA ? | Location | Outline ? |
|---|---|---|---|
|
Intensive April - May 2026
|
Block mode | Camperdown/Darlington, Sydney |
Find your current year census dates
Modes of attendance (MoA)
This refers to the Mode of attendance (MoA) for the unit as it appears when you’re selecting your units in Sydney Student. Find more information about modes of attendance on our website.
Disclaimer
Important: the University of Sydney regularly reviews units of study and reserves the right to change the units of study available annually. To stay up to date on available study options, including unit of study details and availability, refer to the relevant handbook.
To help you understand common terms that we use at the University, we offer an online glossary.