Green Certificates are usually described as negotiable instruments or commercial papers. The Italian legal system identifies Green Certificates as rights but, due to the ambiguity of the definition, their juridical nature remains uncertain. This reverberates on the functioning of the Green Certificates market and on the enforcement of the relevant norms. This paper discusses the actual legal nature of Green Certificates in Italy and concludes that they should be regarded as goods. This means that private law instruments apply in their market transactions, with consequent implications on the policy side. (C) 2011 Elsevier Ltd. All rights reserved.
The problem of the legal nature of Green Certificates in the Italian legal system
Colcelli;Valentina
2012
Abstract
Green Certificates are usually described as negotiable instruments or commercial papers. The Italian legal system identifies Green Certificates as rights but, due to the ambiguity of the definition, their juridical nature remains uncertain. This reverberates on the functioning of the Green Certificates market and on the enforcement of the relevant norms. This paper discusses the actual legal nature of Green Certificates in Italy and concludes that they should be regarded as goods. This means that private law instruments apply in their market transactions, with consequent implications on the policy side. (C) 2011 Elsevier Ltd. All rights reserved.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
