Download or read book Evaluation of Alternative Initial Allocation Mechanisms in a European Union Greenhouse Gas Emissions Allowance Trading Scheme written by David Harrison and published by . This book was released on 2002 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book National Allocation Plans in the EU Emissions Trading Scheme written by Michael Grubb and published by Routledge. This book was released on 2010-09-23 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU emissions trading scheme is the largest emissions control scheme in the world, capping almost half of European CO2 emissions. As the scheme emerges from its pilot phase, this special issue of Climate Policy journal analyses the lessons learned from the last two years and their implications for phase II. The volume presents some of the key analyses that helped inform the European Commission's decisions on national allocation plans, with research ranging from detailed country-by-country comparisons to more generic analysis that puts forward the case for harmonization. Challenging calls to seperate electricity from other sectors, a macroeconomic study suggests that the biggest efficiency gains come from inter-sectoral trading, even more than international trading. Empirical papers, which look at the expected scarcity of allowances in the market and merge models for the power and non-power sectors to project emissions and contrast these to the aggregate allocation volume, are complemented by two numerical simulations of trade and distributional effects, estimating the efficiency gains of the EU ETS in phase I and assessing allocation and distribution effects in the RGGI context.
Download or read book Allocation in the European Emissions Trading Scheme written by A. Denny Ellerman and published by Cambridge University Press. This book was released on 2007-06-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical issue in dealing with climate change is deciding who has a right to emit carbon dioxide. Allocation in the European Emissions Trading Scheme provided the first in-depth description and analysis of the process by which rights to emit carbon dioxide were created and distributed in the European Union. This was the world's first large-scale experiment with an emission trading system for carbon dioxide and was likely to be copied by others if there was to be a global regime for limiting greenhouse gas emissions. The book comprises contributions from those responsible for putting the allocation into practice in ten representative member states and at the European Commission. The problems encountered in this process, the solutions found, and the choices they made, will be of interest to all who are concerned with climate policy and the use of emissions trading to combat climate change.
Download or read book The European Union Emissions Trading Scheme written by and published by . This book was released on 2007 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union Emissions Trading Scheme (EU ETS) is the world's first large experiment with an emissions trading system for carbon dioxide (CO2) and it is likely to be copied by others if there is to be a global regime for limiting greenhouse gas emissions. After providing a brief discussion of the origins of the EU ETS, its relation to the Kyoto Protocol, and its precedents in Europe and the U.S., this paper focuses on allowance allocation -- the process of deciding who will receive the newly limited rights to emit CO2. We describe how allowances were allocated in the EU ETS, with particular emphasis on the issues and problems encountered, including the lack of readily available installation-level data, the participants in the process, the use of projections, the choices of Member States with respect to auctioning, benchmarking, and new entrant provisions, and the difficult issue of deciding to whom the expected shortage was to be allocated. Finally, we discuss the recently available data on 2005 emissions and what they indicate concerning over-allocation, trading patterns, and abatement. We conclude with some observations about the broader implications of the EU ETS, what seems to be unique about CO2, and the fact that non-economic considerations inform the allocation of allowances.
Download or read book The Allocation of Regulatory Competence in the EU Emissions Trading Scheme written by Josephine A. W. van Zeben and published by Cambridge University Press. This book was released on 2014-04-17 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis of the law and politics of regulatory competence allocation in the European Union Emissions Trading Scheme.
Download or read book Shaping the Global Arena Preparing the EU Emissions Trading Scheme for the post 2012 Period written by Noriko Fujiwara and published by CEPS. This book was released on 2007 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on an assessment of the EU ETS, this CEPS Task Force Report tests the performance of four different design models (a cap-and-trade system based on free allocation, benchmarks, auctioning and a credit-and-baseline system) against 10 criteria under three headings: environmental effectiveness, economic efficiency and the contribution of the ETS to achieving long-term climate change policy objectives. Based on this assessment, the report makes a number of recommendations in the area of allocation, creation of investment incentives and the merits of including new sectors and new gases. The report also addresses the particular challenge of completing the EU ETS review before a global post-2012 agreement can be reached, i.e. the EU ETS will be reviewed against an unknown global context.
Download or read book Towards Auctioning written by Stefan Weishaar and published by Kluwer Law International B.V.. This book was released on 2009-01-01 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emissions trading systems have come to the fore as the most economically efficient mechanisms that can be employed to bring about an optimal greenhouse gas reduction goal. Even though much has been written about the advantages and disadvantages of these systems, one element of crucial importance and emission allowance allocation and has not been considered in adequate depth until the present study. Such an analysis takes on increased importance as it seems likely that market-based auctioning will become the default allocation method throughout the EU under a proposed amendment to the Emissions Trading System (ETS) established by Directive 2003/87/EC. Taking a law and economics approach and that is, using a combined perspective of industrial economics and legal analysis and this important book examines the potential for anticompetitive distortion that may result from auctioning emission allowances. Among the issues investigated in depth are the following: whether the current setup of the EU ETS fosters allocative efficiency or whether this allocative efficiency is hindered by legal impediments or constraints; whether EU competition law can serve to remedy anticompetitive effects stemming from Member State actions taken pursuant to Directive 2003/87/EC; which allocation formats are most desirable from an allocative efficiency and environmental effectiveness point of view; the importance of initial allocation and adjustment of out-of-equilibrium situations under the amended ETS; whether auctioning allowances serves the attainment of market equilibrium even in the continuing presence of andpolluter havensand; the effect of the ECJands so-called andjoint application jurisprudenceand on the ETS; and the allocation of allowances from a state aid perspective. The book provides both a coherent typology of emission allowance allocation mechanisms and the main characteristics of the present emissions trading system, setting the gained insights into a broader perspective. It examines how various assignment mechanisms deal with issues such as price determination, allocative efficiency and environmental effectiveness. It considers how market-based allocation mechanisms compare with administrative allocation mechanisms, particularly those based on the widely applied grandfathering method. And perhaps most important and and of especial value to practitioners and policymakers and it identifies the auction design challenges that must be addressed by the Commission in its implementing regulation due by 30 June 2010.
Download or read book Emissions Trading written by Ralf Antes and published by Springer Science & Business Media. This book was released on 2008-07-01 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emissions trading challenges the management of companies in an entirely new manner. Most importantly it shifts the mode of governance of environmental policy from hierarchy to market. The contributions in this book discuss the theoretical implications of different institutional designs of emissions trading schemes. They review schemes implemented in the US and Europe, and evaluate the range of investment decisions and corporate strategies resulting from the new policy framework.
Download or read book Pricing Carbon written by A. Denny Ellerman and published by . This book was released on 2014-05-14 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first detailed description and analysis of the European Union Emissions Trading Scheme.
Download or read book A Legal View on Ex Post Interventions in an Emissions Trading Scheme written by Marjan Peeters and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Up till now, the question whether the government can or should intervene in an emissions trading scheme has hardly been discussed in legal literature. This paper explores some legal aspects regarding so called ex post interventions (retroactive adjustments) within emissions trading schemes, in particular the European greenhouse gas emissions trading scheme. It discusses the need for such ex post interventions, with a focus on the withdrawal of allocated allowances. It states that the issue of ex post adjustments should be considered in view of the allocation method chosen, like auctioning or the free distribution of tradable rights. The present European greenhouse gas allowance trading scheme serves as an interesting case regarding ex post interventions. This scheme is predominantly based on a free allocation of the allowances by the member states. Within this scheme, the issue of ex post adjustments has even led to a striking and important ruling of the Court of First Instance (ruling from 7 November 2007, T-374/04). The Court conducted in its ruling an elaborated analysis of the nature and effects of the ex post adjustment mechanisms as initially proposed by Germany in its first National Allocation Plan, and ruled that the Commission could not uphold its reluctant position on downwards ex post adjustments. The case shows that ex post adjustments within the current emissions trading framework can be used to correct some perverse effects of the cap and trade approach based on historical production data. Although the outcome of this ruling did not have important effects on the current trading period, we conclude that the analysis of the Court should be taken into consideration by the legislative institutions when amending the present emissions trading directive. This case illustrates that the possibility of allowing ex post adjustments in an emissions trading system should not be overlooked. As such, there is not yet available a systematic analysis of the possible (greenhouse gas) emissions trading models and the different forms of governmental interventions within such schemes. The design of such competences, and the conditions and limits to interventions within emissions trading schemes thus needs further exploration from an economic and legal perspective, not only within greenhouse gas emissions trading schemes, but regarding any emissions trading scheme to be considered.
Download or read book Border Carbon Adjustments and Alternative Measures for the EU ETS written by Roland Ismer and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As part of its Green Deal, the European Commission is considering the introduction of border carbon adjustments and alternative measures. The measures, which would primarily apply to basic materials like steel and cement, pursue a double objective: they are aimed at enhancing the effectiveness of carbon pricing for the transition to climate neutrality but also at avoiding carbon leakage risks. When implementing carbon adjustment mechanisms and alternative measures, various design options might be considered to reform the EU Emissions Trading Scheme (EU ETS). In this paper, we have decided to focus on three main models, which help to highlight the main differences between the available options. Under the first model, importers of basic materials would be required to surrender carbon allowances at the level of a product benchmark or, where lower, at the verified level of foreign carbon intensity. In parallel, allocation of free allowances would be phased out. Under the second model, a symmetric adjustment mechanism for exports and imports would be adopted, including refund to exporters for the carbon costs incurred on basic materials embodied in products. Finally, under the third model, the EU ETS would be complemented with a climate contribution charged for materials sold in the European Union (EU) at the product benchmark level related to the carbon intensity of each material. The free allowance allocation regime would then be modified to be directly linked to the volume of material production at the product benchmark level. In order to contribute to the current policy debate, we evaluate for each of these three models, their legality, coherence with EU climate objectives, effectiveness in carbon leakage prevention, potential international implications, as well as their administrative complexity and compliance costs.
Download or read book The Green Paradox written by Hans-Werner Sinn and published by MIT Press. This book was released on 2012-02-03 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economist develops a supply-side approach to fighting climate change that encourages resource owners to leave more of their fossil carbon underground. The Earth is getting warmer. Yet, as Hans-Werner Sinn points out in this provocative book, the dominant policy approach—which aims to curb consumption of fossil energy—has been ineffective. Despite policy makers' efforts to promote alternative energy, impose emission controls on cars, and enforce tough energy-efficiency standards for buildings, the relentlessly rising curve of CO2 output does not show the slightest downward turn. Some proposed solutions are downright harmful: cultivating crops to make biofuels not only contributes to global warming but also uses resources that should be devoted to feeding the world's hungry. In The Green Paradox, Sinn proposes a new, more pragmatic approach based not on regulating the demand for fossil fuels but on controlling the supply. The owners of carbon resources, Sinn explains, are pre-empting future regulation by accelerating the production of fossil energy while they can. This is the “Green Paradox”: expected future reduction in carbon consumption has the effect of accelerating climate change. Sinn suggests a supply-side solution: inducing the owners of carbon resources to leave more of their wealth underground. He proposes the swift introduction of a “Super-Kyoto” system—gathering all consumer countries into a cartel by means of a worldwide, coordinated cap-and-trade system supported by the levying of source taxes on capital income—to spoil the resource owners' appetite for financial assets. Only if we can shift our focus from local demand to worldwide supply policies for reducing carbon emissions, Sinn argues, will we have a chance of staving off climate disaster.
Download or read book National Allocation Plans in the EU Emissions Trading Scheme written by Michael Grubb and published by Earthscan. This book was released on 2010-09-23 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU emissions trading scheme is the largest emissions control scheme in the world, capping almost half of European CO2 emissions. As the scheme emerges from its pilot phase, this special issue of Climate Policy journal analyses the lessons learned from the last two years and their implications for phase II.The volume presents some of the key analyses that helped inform the European Commission's decisions on national allocation plans, with research ranging from detailed country-by-country comparisons to more generic analysis that puts forward the case for harmonization. Challenging calls to seperate electricity from other sectors, a macroeconomic study suggests that the biggest efficiency gains come from inter-sectoral trading, even more than international trading. Empirical papers, which look at the expected scarcity of allowances in the market and merge models for the power and non-power sectors to project emissions and contrast these to the aggregate allocation volume, are complemented by two numerical simulations of trade and distributional effects, estimating the efficiency gains of the EU ETS in phase I and assessing allocation and distribution effects in the RGGI context.
Download or read book The Greenhouse Gas Protocol written by and published by World Business Pub.. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The GHG Protocol Corporate Accounting and Reporting Standard helps companies and other organizations to identify, calculate, and report GHG emissions. It is designed to set the standard for accurate, complete, consistent, relevant and transparent accounting and reporting of GHG emissions.
Download or read book The EU Emissions Trading Scheme written by Sonja Butzengeiger and published by Routledge. This book was released on 2018-12-07 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: This special issue of the Climate Policy journal outlines the fundamentals of the new European Emissions Trading Scheme (EU ETS), assesses the strategies for and impact of implementation and highlights the scheme's potential, including positive aspects and remaining hurdles. The EU Emission Trading Scheme (EU ETS) is the first international trading scheme for CO2 in the world. Its aim is to reduce the cost of compliance to existing targets under the Kyoto Protocol. From 1st January 2005, companies in high-energy sectors covered by the scheme must limit their CO2 emissions to allocated levels, arranged in two periods: from 2005-2007 and 2008-2012 (to match the first Kyoto commitment period). In practice, the scheme is likely to cover over 12,000 installations across the European Union, corresponding to approximately 46% of the total EU CO2 emissions. The EU ETS represents a significant development in working at an international level to combat dangerous climate change. The EU Emissions Trading Scheme presents a comprehensive and insightful analysis of the EU ETS, written by international experts in the field. The publication includes the latest research on emissions credits, the interaction of the trading scheme with national energy policies and the debate on future expansion.
Download or read book Reviewing the EU Emissions Trading Scheme Priorities for Short Term Implementation of the Second Round of Allocation Part II written by and published by CEPS. This book was released on 2005 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EU Emission Trading Scheme and the Effect on the Price of Electricity written by Nordisk Ministerråd and published by Nordic Council of Ministers. This book was released on 2004 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Starting from January 1, 2005 the European Union will implement a scheme for trading with greenhouse gas (GHG) emission allowances. During the first trading period, 2005-2007, the scheme covers only CO2, and there is no international commitment to reduce the emission of GHG. During the second period, 2008-2012, the European Union has committed to reducing their emissions of GHG by 8% compared to 1990 levels. Emissions trading will create a cost of CO2 emissions and increase the marginal cost of producing electricity in fossil-fueled plants. This will result in an increase in the electricity price. For the period of 2005-2007, the likely range of allowance prices in the EU is estimated to be 1-5/tonne CO2 and for 2008-2012, 8-13/tonne CO2. Based on these estimates the effect on the price of electricity is analyzed. In the short run, the price increases in the Nordic countries, except Jutland, is less than the increase in marginal cost for coal plants. In the somewhat longer run (2012) the price increase is approximately the same as the increase in the marginal cost of modern gas-fired plants.
