il energy resources. The combustion of fossil fuels releases significant amounts of carbon dioxide (CO2), however, which in turn contributes to a great extent to the greenhouse effect and climate change. * Inga Guddas is a legal adviser at the German Emissions Trading Authority at the Federal Environment Agency, Berlin. Timo Hohmuth is an attorney at White & Case LLP, Hamburg, and former legal adviser at the German Emissions Trading Authority at the Federal Environment Agency, Berlin. He holds a doctorate in law from Georg-August Universit