Market Analysis and Risk Management of EU Emissions Trading - MARMET

International Nuclear Information System (INIS)

Ollikainen, M.; Aatola, P.; Ollikka, K.; Kumpulainen, A.; Pohjola, T.; Lappalainen, E.

2007-01-01

The first period of the EU Emissions Trading Scheme (EU ETS) commenced on January 1st 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage their risks and profitability companies need to be able to estimate future price developments of emission allowances. The University of Helsinki is conducting a research project in cooperation with the Helsinki University of Technology that will provide necessary information for analyzing European Union emission allowance (EUA) markets and create risk management competence. The objectives of the research project are (1) to develop a price estimation model for EU emission allowances and (2) to develop risk management competence related to EU ETS. With the price estimation model the short-term price developments of EUAs can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project also delivers a general risk management model for EU ETS that aims at improving competitiveness of companies. (orig.)

The EU system for emissions trading after year 2012; EU:s system foer handel med utslaeppsraetter efter 2012

Energy Technology Data Exchange (ETDEWEB)

Normand, Mathias; Mjureke, David (eds.)

2007-01-15

The Government has instructed the Swedish Energy Agency and the Swedish Environmental Protection Agency to put forward a proposal for how the EU Emissions Trading Scheme (EU ETS) should be developed after 2012, subject to the overall objective of continuing to reduce emissions with the aim of achieving the long-term objectives of the Convention on Climate Change. In its Council Conclusions (7619/1/05) the EU has interpreted the long-term objectives of the Convention on Climate Change as aiming to achieve emission reductions of 15-30 % in the industrialised countries by 2020. According to Council Conclusions (13435/05), the EU has also decided that the Emissions Trading Scheme should continue after 2012. The starting point for this report is that, after 2012, the Scheme will be a key instrument in achieving cost-efficient emission reductions, not only within the EU but also globally, and regardless of whether, with effect from 2013, the Scheme has become a part of an international climate regime, or is serving as a transition to some future new international climate regime. The purpose of this report is to provide a proposal for how the Emissions Trading Scheme should be developed after 2012. The aim is to construct a system that helps to reduce global emissions of greenhouse gases (maintaining climate integrity), that assists measures being taken where they are cheapest (cost efficiency), that is accepted by parties concerned and by the general public (confidence inspiring), and which does not adversely affect the competitiveness of business or industry (competition-neutral). The Agencies recommend that Sweden should adopt the following standpoints concerning development of the EU Emissions Trading Scheme after 2012. (Recommended changes to the system presuppose a harmonised implementation throughout the EU.): In connection with international negotiations, Sweden should press for the Emissions Trading Scheme to be developed in such a way as to make it possible to

Impacts of the EU emissions trading scheme on the industrial competitiveness in Germany

Energy Technology Data Exchange (ETDEWEB)

Graichen, Verena; Schumacher, Katja; Matthes, Felix C.; Mohr, Lennart [Oeko Institut e.V., Berlin (Germany); Duscha, Vicky; Schleich, Joachim [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany); Diekmann, Jochen [DIW, Berlin (Germany)

2008-09-15

The authors of the contribution under consideration present a discussion of methods, and provide empirical results for the analysis of effects of the EU Emissions Trading Scheme on product costs and subsequent impacts on international competitiveness. The discussion shows that the combination of intensity of trade indicators and value at stake indicators reveals meaningful results that allow assessing the potential for distortion in competitiveness by the EU Emissions Trading Schemes. The analysis of trade intensities and value at stake showed that a small number of sectors may in fact be exposed to distortions in competitiveness due to both high trade intensity and high value at stake. For Germany, these include 'basic iron and steel', 'fertilizers and nitrogen compounds', 'paper and paperboard', 'aluminium and aluminium products' and 'other basic inorganic chemicals'. A number of other sectors reveal a high intensity of trade but low value at stake which implies that the increase in product costs due to the EU Emissions Trading Scheme is relatively small and negative effects on competitiveness may not be likely. For the sectors that reveal high values at stake and high trade intensities, market positions are likely to change under the EU Emissions Trading system due to increased production costs and high exposure to international competition. When deciding on which sectors are highly exposed to possible distortions in competitiveness and which measures should be implemented to address competitiveness and leakage it should be kept in mind that CO{sub 2} costs are only one of multiple factors affecting companies' production and investment decisions. Other factors that may deserve detailed investigation include product differentiation and market segmentation within a sector (including specialty products), close cooperation with domestic/European partners and intrafirm trade, differences across countries in the

Why quota trade should be restricted: The arguments behind the EU position on emissions trading

International Nuclear Information System (INIS)

Westskog, Hege

2001-01-01

In this paper I try to clarify the background and arguments behind the EU position on emissions trading in negotiating the Kyoto Protocol and their suggestions of how the supplementary cap in the Kyoto agreement can be operationalized. I discuss economic arguments for restricting quota trade with a focus on the market power issue, transaction costs, and ancillary benefits of reducing emissions of climate gases. I also address the problem of hot air as an important argument to restrict quota trade, and arguments for restrictions connected to technological innovation. Finally, I look into the ethical considerations of restrictions. (author)

Why quota trade should be restricted: The arguments behind the EU position on emissions trading

Energy Technology Data Exchange (ETDEWEB)

Westskog, Hege

2001-07-01

In this paper I try to clarify the background and arguments behind the EU position on emissions trading in negotiating the Kyoto Protocol and their suggestions of how the supplementarity cap in the Kyoto agreement can be operationalized. I discuss economic arguments for restricting quota trade with a focus on the market power issue, transaction costs, and ancillary benefits of reducing emissions of climate gases. I also address the problem of hot air as an important argument to restrict quota trade, and arguments for restrictions connected to technological innovation. Finally, I look into the ethical considerations of restrictions. (author)

Norway and the EU may trade emission quotas from 2005

International Nuclear Information System (INIS)

Tjernshaugen, Andreas

2002-01-01

The EU commission wants to implement quota trade with climate gases from 2005. The proposal, which came in October 2001, describes a quota system limited to the emission of CO 2 in certain industrial sectors. Sources like road traffic and heating of buildings are not comprised by the proposal. It is intended that the agreement will later include more climate gases and more types of activities. This expansion of the implementation becomes most important from 2008-2012, for then the Kyoto Protocol sets the limits for six types of climate gases and lays down rules for international trade with emission quotas. Norway is likely to go in for a limited quota system for 2005 to 2007 and apply for an agreement with the quota market of the EU. It is not certain, however, that the Norwegian authorities will limit the national quota system the same way

Extension of EU Emissions Trading Scheme to Other Sectors and Gases: Consequences for Uncertainty of Total Tradable Amount

International Nuclear Information System (INIS)

Monni, S.; Syri, S.; Pipatti, R.; Savolainen, I.

2007-01-01

Emissions trading in the European Union (EU), covering the least uncertain emission sources of greenhouse gas emission inventories (CO 2 from combustion and selected industrial processes in large installations), began in 2005. During the first commitment period of the Kyoto Protocol (2008-2012), the emissions trading between Parties to the Protocol will cover all greenhouse gases (CO 2 , CH 4 , N 2 O, HFCs, PFCs, and SF 6 ) and sectors (energy, industry, agriculture, waste, and selected land-use activities) included in the Protocol. In this paper, we estimate the uncertainties in different emissions trading schemes based on uncertainties in corresponding inventories. According to the results, uncertainty in emissions from the EU15 and the EU25 included in the first phase of the EU emissions trading scheme (2005-2007) is ±3% (at 95% confidence interval relative to the mean value). If the trading were extended to CH 4 and N 2 O, in addition to CO 2 , but no new emissions sectors were included, the tradable amount of emissions would increase by only 2% and the uncertainty in the emissions would range from -4 to +8%. Finally, uncertainty in emissions included in emissions trading under the Kyoto Protocol was estimated to vary from -6 to +21%. Inclusion of removals from forest-related activities under the Kyoto Protocol did not notably affect uncertainty, as the volume of these removals is estimated to be small

The efficiency costs of separating carbon markets under the EU emissions trading scheme: A quantitative assessment for Germany

International Nuclear Information System (INIS)

Boehringer, Christoph; Hoffmann, Tim; Manrique-de-Lara-Penate, Casiano

2006-01-01

From 1 January 2005 onwards the European Union has launched the first large-scale international carbon emissions trading program. As the EU Emissions Trading Scheme (EU-ETS) covers only part of domestic carbon emissions, it implies a segmented environmental regulation scheme: Each EU Member State must specify additional domestic abatement policies for the sectors outside the EU-ETS in order to meet its emissions budget under the EU Burden Sharing Agreement. We highlight the generic problems of segmented carbon regulation in terms of information requirements for international carbon prices and domestic abatement costs of sectors outside the EU-ETS. Based on numerical simulations for Germany, we quantify the excess costs of segmented carbon regulation and conclude that inefficiencies can be much better explained by lobbying of influential EU-ETS sectors than by information problems. (Author)

The EU Emissions Trading Scheme. Allowance Prices, Trade Flows, Competitiveness Effects

International Nuclear Information System (INIS)

Klepper, G.; Peterson, S.

2004-03-01

The upcoming European Emissions Trading Scheme (ETS) is one of the more controversial climate policy instruments. Predictions about its likely impact and its performance can at present only be made to a certain degree. As long as the National Allocations Plans are not finally settled the overall supply of allowances is not determined. In this paper we will identify key features and key impacts of the EU ETS by scanning the range of likely allocation plans using the simulation model DART. The analysis of the simulation results highlights a number of interesting details in terms of allowance trade flows between member countries, of allowance prices, and in terms of the role of the accession countries in the ETS

The Best (and Worst) of GHG Emission Trading Systems: Comparing the EU ETS with Its Followers

International Nuclear Information System (INIS)

Borghesi, Simone; Montini, Massimiliano

2016-01-01

The European Emission Trading System (EU ETS) is generally considered as the prototype system for the other Emission Trading Systems (ETSs) for the reduction of greenhouse gases (GHGs) that are rapidly spreading around the world. To get a deeper understanding on the actual capacity of the EU ETS to stand as a model for the other ETSs, the present paper discusses the differences and similarities of the EU ETS with respect to the other main ETSs and the emerging trends that these systems seem to share, comparing the different cap-and-trade regimes in order to identify the best practices and the desirable features that future ETSs should have. As emerges from the comparative analysis performed in this article, although the followers share some common flaws with the EU ETS, they have also shown the capacity to innovate and possibly devise alternative ways to manage their own ETS regimes, which may in the long term jeopardize the EU leadership in the ETSs context.

The Best (and Worst) of GHG Emission Trading Systems: Comparing the EU ETS with Its Followers

Energy Technology Data Exchange (ETDEWEB)

Borghesi, Simone, E-mail: simone.borghesi@unisi.it; Montini, Massimiliano [University of Siena, Siena (Italy)

2016-07-29

The European Emission Trading System (EU ETS) is generally considered as the prototype system for the other Emission Trading Systems (ETSs) for the reduction of greenhouse gases (GHGs) that are rapidly spreading around the world. To get a deeper understanding on the actual capacity of the EU ETS to stand as a model for the other ETSs, the present paper discusses the differences and similarities of the EU ETS with respect to the other main ETSs and the emerging trends that these systems seem to share, comparing the different cap-and-trade regimes in order to identify the best practices and the desirable features that future ETSs should have. As emerges from the comparative analysis performed in this article, although the followers share some common flaws with the EU ETS, they have also shown the capacity to innovate and possibly devise alternative ways to manage their own ETS regimes, which may in the long term jeopardize the EU leadership in the ETSs context.

The impact of the EU emissions trading scheme on the price of electricity in the Netherlands

International Nuclear Information System (INIS)

Sijm, J.P.M.

2004-02-01

In this paper a specific aspect of the proposed EU Emissions Trading System (EU ETS) is discussed, namely the potential impact of the EU ETS on the price of electricity in the Netherlands and, hence, the potential implications for Dutch power producers and consumers. It shows that the EU ETS may lead to a significant increase in the price of electricity in the Netherlands (and other EU Member States), depending on the marginal costs of emissions trading (i.e. the price of an emission allowance), the emission factor of the marginal production technology to generate electricity, and the extent to which the costs of emissions trading will be passed on to the end-users of electricity. If, for one reason or another, these costs will not be passed on to power consumers, it will have an adverse impact on overall efficiency from both an energy and economic point of view. On the other hand, if - as expected - these costs are indeed passed on to end-users of electricity, it will benefit power producers (mainly owing to the economic rent of allocating emission allowances for free), while it will harm those energy-intensive industries that, in turn, are not able to pass the higher electricity costs to their customers (resulting in a loss of economic production and income). To some degree, these effects can be best avoided by auctioning emission allowances mandatory throughout the EU ETS and using the auction revenues to reduce the overall level of taxation and social premiums in order to improve the overall competitiveness of domestic industries and to (partly) compensate power consumers for the ET-induced increase in the price of electricity

Interaction of the EU emissions Trading Directive with climate policy instrument in the Netherlands. Policy Brief

International Nuclear Information System (INIS)

Sijm, J.P.M.

2003-11-01

This policy brief presents an overview of the implications of the proposed EU Emissions Trading Scheme (EU ETS) for some selected energy and climate policy instruments in the Netherlands. It summarises the results of research that has been conducted by the Energy research Centre of the Netherlands (ECN) as part of the EU-funded project Interaction in EU Climate Policy

Firm performance and employment in the EU emissions trading scheme: An empirical assessment for Germany

International Nuclear Information System (INIS)

Anger, Niels; Oberndorfer, Ulrich

2008-01-01

This paper empirically investigates the role of the EU Emissions Trading Scheme (EU ETS) for firm performance and employment in Germany. We provide an overview of relative allowance allocation within the EU ETS as well as an econometric analysis for a large sample of German firms covered by the scheme in order to assess the impacts of EU emissions regulation on both firm revenues and employment. The dataset indicates that the EU ETS was in an overall long position in 2005, although allowance allocation was very heterogeneous across member states. Our econometric analysis suggests that, within the first phase of the EU ETS, relative allowance allocation did not have a significant impact on firm performance and employment of regulated German firms

How to design greenhouse gas trading in the EU?

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Vesterdal, Morten

2001-01-01

A new and remarkable Green Paper about how to trade Greenhouse gases (GHG) in the EU has recently been published by the Commission of the European Union. This to achieve the stated 8% reduction target level. The Green Paper raises ten questions about how greenhouse gas permit trading should...... be designed in the EU before year 2005. These ten questions can be compressed into four main issues, namely target group, allocation of emission allowances, how to mix emission trading with other instruments and fourth enforcement. In the literature, there is a strong need to guide decision...... concerning the future design of GHG permit trading in the EU....

How to Design Greenhouse Gas Trading in the EU?

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Vesterdal, Morten

2003-01-01

A new and remarkable Green Paper about how to trade Greenhouse gases (GHG) in the EU has recently been published by the Commission of the European Union. This to achieve the stated 8% reduction target level. The Green Paper raises ten questions about how greenhouse gas permit trading should...... be designed in the EU before year 2005. These ten questions can be compressed into four main issues, namely target group, allocation of emission allowances, how to mix emission trading with other instruments and fourth enforcement. In the literature, there is a strong need to guide decision...... concerning the future design of GHG permit trading in the EU. Udgivelsesdato: NOV...

An evaluation of possible EU air transport emissions trading scheme allocation methods

International Nuclear Information System (INIS)

Morrell, Peter

2007-01-01

The European Commission has been requested by member states to study the incorporation of air transport into their existing emissions trading scheme (ETS). Only CO 2 is to be included, at least initially. This paper focuses on the method of allocation of emissions permits in the EU context. It has been assumed here that the EU ETS will be applied only to intra-EU flights and that airlines will be the entities selected for implementation. Three UK airlines were selected to evaluate three main types of allocation: grandfathering, auctioning and benchmarking. The airlines were representative of the three major airline business models: network, low-cost carrier and charter/leisure. Based on 2003/2004 aircraft/engine type and operating data, the per passenger impact of each allocation option was analysed for each airline. A new benchmarking approach is proposed that takes into account both the landing and take-off (LTO) cycle and per kilometre emissions: this avoids penalising shorter sector operators and focuses on the damage caused by aircraft and their engines and not on passengers. (author)

EU Emissions Trading Scheme and Investments in the power sector

Energy Technology Data Exchange (ETDEWEB)

Sapienza, M.D.; Stefanoni, S.

2007-07-01

How environmental regulation affects electricity players' investment decisions? Should policy makers look beyond for alternative mechanisms - such as energy efficiency, capture and storage of carbon dioxide, and incentives for renewables - to fulfill the environmental objectives set by Kyoto Protocol? This paper suggests - through a Real Option approach - how the efficacy of the EU Emission Trading Scheme on technological innovation, emissions reduction and energy price dynamics, is strongly affected by the 'hysteresis' emerging from the capital budgeting process of main utilities. As a matter of fact, long-term substitutions between coal-fired units and Combined Cycle Gas Turbine plants production only take place under quite restrictive conditions. (auth)

The Impact of the EU Emissions Trading System on CO{sub 2} Intensity in Electricity Generation

Energy Technology Data Exchange (ETDEWEB)

Widerberg, Anna (Dept. of Economics, Goeteborgs Univ., Goeteborg (Sweden)); Wraake, Markus (Swedish Environmental Research Institute Ltd., Stockholm (Sweden)). e-mail: markus.wrake@ivl.se

2009-07-15

Prior to the launch of the EU Emissions Trading System (EU ETS) in 2005, the electricity sector was widely proclaimed to have more low-cost emission abatement opportunities than other sectors. If this were true, effects of the EU ETS on carbon dioxide (CO{sub 2}) emissions would likely be visible in the electricity sector. Our study looks at the effect of the price of emission allowances (EUA) on CO{sub 2} emissions from Swedish electricity generation, using an econometric time series analysis for the period 2004-2008. We control for effects of other input prices and hydropower reservoir levels. Our results do not indicate any link between the price of EUA and the CO{sub 2} emissions of Swedish electricity production. A number of reasons may explain this result and we conclude that other determinants of fossil fuel use in Swedish electricity generation probably diminished the effects of the EU ETS

Emmission trading in EU law. The EU emission trading directive as a new tool in European air pollution abatement policy; Emissionshandel im Gemeinschaftsrecht. Die EG-Emissionshandelsrichtlinie als neues Instrument europaeischer Klimaschutzpolitik

Energy Technology Data Exchange (ETDEWEB)

Kerth, Y.

2004-07-01

The publication investigates in how far the EU followed up its voiced political intentions to reduce air pollution by legal actions. The climate protection tools of the EU are investigated both from a historical and a structural view. After this analysis of the status quo, the new EU emission trading system is analyzed in detail because of its innovative character. (orig.)

The impacts of EU CO2 emissions trading on electricity markets and electricity consumers in Finland

International Nuclear Information System (INIS)

Kara, M.; Syri, S.; Lehtilae, A.; Helynen, S.; Kekkonen, V.; Ruska, M.; Forsstroem, J.

2008-01-01

In this paper, the likely impacts of the EU emission trading system on the Nordic electricity market and on the position of various market actors are assessed. In its first phase, the EU CO 2 emission trading system includes power plants with thermal capacity greater than 20 MW, metals industry, pulp and paper industry, mineral industry and oil refineries. This paper describes the assessment done for the Finnish Minister of Trade and Industry, analysing the likely impacts on power plant operators, on energy-intensive industries, on other industries and on other consumer groups. The impacts of emissions trading were studied with the VTT electricity market model and with the TIMES energy system model. The annual average electricity price was found to rise 0.74 EUR MW h -1 for every 1 Euro tonne CO 2 -1 in the Nordic area. Large windfall profits were estimated to incur to electricity producers in the Nordic electricity market. In Finland, metals industry and private consumers were estimated to be most affected by the electricity market price increases. Expanded nuclear power generation could limit the increases in the prices of electricity to one-third compared to those in the base case

How to design greenhouse gas trading in the EU?

International Nuclear Information System (INIS)

Svendsen, G.T.

2003-01-01

A new and remarkable Green Paper about how to trade greenhouse gases (GHG) in the EU has recently been published by the Commission of the European Union. This to achieve the stated 8% reduction target level. The Green Paper raises ten questions about how greenhouse gas permit trading should be designed in the EU before year 2005. These ten questions can be compressed into four main issues, namely target group, allocation of emission allowances, how to mix emission trading with other instruments and fourth enforcement. In the literature, there is a strong need to guide decision-makers and stimulate academic debates concerning the actual design of a simple and workable GHG market model for the EU. This model must take both economic, administrative and political concerns into account so that it is feasible in practice. Based on our findings, we therefore develop a policy recommendation concerning the future design of GHG permit trading in the EU. (author)

How to design greenhouse gas trading in the EU?

International Nuclear Information System (INIS)

Tinggaard Svendsen, G.; Vesterdal, M.

2001-01-01

A new and remarkable Green Paper about how to trade Greenhouse gases (GHG) in the EU has recently been published by the Commission of the European Union. This to achieve the stated 8% reduction target level. The Green paper raises ten questions about how greenhouse gas permit trading should be designed in the EU before year 2005. These ten questions can be compressed into four main issues, namely target group, allocation of emission allowances, how to mix emission trading with other instruments and fourth enforcement. In the literature, there is a strong need to guide decision-makers and stimulate academic debates concerning the actual design of a simple and workable GHG market model for the EU. This model must take both economic, administrative and political concerns into account so that it is feasible in practice. Based on our findings, we therefore develop a policy recommendation concerning the future design of GHG permit trading in the EU. (au)

How to design greenhouse gas trading in the EU?

Energy Technology Data Exchange (ETDEWEB)

Tinggaard Svendsen, G; Vesterdal, M

2001-07-01

A new and remarkable Green Paper about how to trade Greenhouse gases (GHG) in the EU has recently been published by the Commission of the European Union. This to achieve the stated 8% reduction target level. The Green paper raises ten questions about how greenhouse gas permit trading should be designed in the EU before year 2005. These ten questions can be compressed into four main issues, namely target group, allocation of emission allowances, how to mix emission trading with other instruments and fourth enforcement. In the literature, there is a strong need to guide decision-makers and stimulate academic debates concerning the actual design of a simple and workable GHG market model for the EU. This model must take both economic, administrative and political concerns into account so that it is feasible in practice. Based on our findings, we therefore develop a policy recommendation concerning the future design of GHG permit trading in the EU. (au)

EU's CO2 trade a high risk project

International Nuclear Information System (INIS)

Wellander, Dag

2003-01-01

The uncertainty about the planned CO 2 trade of the European Union (EU) is very great. For the possible buyers in this politically created market the risks may be great and difficult to assess. The most effective way of forcing a reduction of emissions is trading emission licences. But this requires taking a stand on issues of very unpleasant nature. And the Kyoto protocol evades these questions, it is a thin document right from the beginning. Trade in emission licences is one of the three so-called flexible mechanisms of the Kyoto agreement. The second mechanism is joint implementation in which one industrialized country carries out emission reduction actions in another industrialized country. The third is the mechanism of clean development, in which one industrialized country takes remedial actions in a developing country. It is unclear how these mechanisms are to act in accordance with each other, both in the Kyoto Protocol and on the level of the EU. The biggest and most fundamental uncertainty, both on the EU and global levels, relates to the fact that the partners have not decided how to define the right of ownership of emissions of a certain size

EU climate policy impact in 2020. With a focus on the effectiveness of emissions trading policy in an economic recession scenario

International Nuclear Information System (INIS)

Graus, W.; Sreenivasamurthy, U.; Wesselink, B.

2009-06-01

PBL's Environmental Balance 2009 provides information on the current status and trends of environmental and climate policies. Ecofys contributes to the climate policy section of the report by developing the following three indicators: (1) ex-post and ex-ante policy impacts until 2020 at EU level (wedge diagram); (2) business-as-usual emissions of EU ETS sectors until 2020, revised for the current economic recession; (3) a latest literature review of EUA (EU emission allowances) price band expected until 2020. Based on the latter two analyses, a brief note on the impact of the current economic recession on the effectiveness of the EU emission trading scheme until 2020 is presented.An economic recession of two years or longer will considerably decrease the effectiveness of the Emissions Trading Scheme (ETS) in stimulating low-carbon technologies. In order to meet EU climate targets in the longer term, new governmental policies will be needed to compensate for this.

Potential gains from CO2 trading in the EU

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Vesterdal, Morten

2003-01-01

A new Green Paper from the European Commission on emissions trading foresees the setting-up of a CO2 trading system within the EU for the energy sector. Because any such international environmental agreement is self-enforcing, the participants must have an economic net gain from joining the propo......A new Green Paper from the European Commission on emissions trading foresees the setting-up of a CO2 trading system within the EU for the energy sector. Because any such international environmental agreement is self-enforcing, the participants must have an economic net gain from joining...... the proposed system. Our contribution is therefore to follow the Green Paper proposal and investigate whether member countries and the largest industrial boilers in the electricity sector actually will get significant net gains from CO2 trade in the European Union rather than undertaking domestic actions...... solely. We show, based on PRIMES model, that a full CO2 emission trading system between Annex B countries suggest overall cost savings in the order of 40 % compared to a situation with no trading at all between Member States. A tradable CO2 permit scheme with comprehensive coverage of emissions within...

Incentives for energy efficiency in the EU emission trading scheme

Energy Technology Data Exchange (ETDEWEB)

Schleich, Joachim [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany); Virginia Polytechnic Inst. and State Univ., Blacksburg, VA (United States); Rogge, Karoline [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany); ETH Zurich (Switzerland). Group for Sustainability and Technology; Betz, Regina [New South Wales Univ. (Australia). Centre for Energy and Environmental Markets

2008-07-01

This paper explores the incentives for energy efficiency induced by the European Union Emissions Trading Scheme (EU ETS) for installations in the energy and industry sectors. Our analysis of the National Allocation Plans for 27 EU Member States for phase 2 of the EU ETS (2008-2012) suggests that the price and cost effects for improvements in carbon and energy efficiency in the energy and industry sectors will be stronger than in phase 1 (2005-2007), but only because the European Commission has substantially reduced the number of allowances to be allocated by the Member States. To the extent that companies from these sectors (notably power producers) pass through the extra costs for carbon, higher prices for allowances translate into stronger incentives for demand- side energy efficiency. With the cuts in allocation to energy and industry sectors these will be forced to greater reductions, thus the non-ET sectors like household, tertiary and transport will have to reduce less, which is more in line with the cost-efficient share of emission reductions. The findings also imply that domestic efficiency improvements in the energy and industry sectors may remain limited since companies can make substantial use of credits from the Kyoto mechanisms. The analysis of the rules for existing installations, new projects and closures suggests that incentives for energy efficiency are higher in phase 2 than in phase 1 because of the increased application of benchmarking to new and existing installations and because a lower share of allowances will be allocated for free. Nevertheless, there is still ample scope to further improve the EU ETS so that the full potential for energy efficiency can be realized. (orig.)

Linking project-based mechanisms with domestic greenhouse gas emissions trading schemes

International Nuclear Information System (INIS)

Bygrave, S.; Bosi, M.

2004-01-01

Although there are a number of possible links between emission trading and project-based mechanisms, the focus of this paper is on linking domestic GHG emission trading schemes with: (1) domestic; and, (2) international (JI and CDM) GHG reduction project activities. The objective is to examine some of the challenges in linking DETs and project-based mechanisms, as well as some possible solutions to address these challenges. The link between JI / CDM and intergovernmental international emissions trading (i.e. Article 17 of the Kyoto Protocol) is defined by the Kyoto Protocol, and therefore is not covered in this paper. The paper is written in the context of: (a) countries adhering to the Kyoto Protocol and elaborating their strategies to meet their GHG emission commitments, including through the use of the emissions trading and project-based mechanisms. For example, the European Union (EU) will be commencing a GHG Emissions Trading Scheme in January 2005, and recently, the Council of ministers and the European Parliament agreed on a text for an EU Linking Directive allowing the use of JI and CDM emission units in the EU Emission Trading Scheme (EU-ETS); and (b) all countries (and/or regions within countries) with GHG emission obligations that may choose to use domestic emissions trading and project-based mechanisms to meet their GHG commitments. The paper includes the following elements: (1) an overview of the different flexibility mechanisms (i.e. GHG emissions trading and PBMs), including a brief description and comparisons between the mechanisms (Section 3); (2) an exploration of the issues that emerge when project-based mechanisms link with domestic emissions trading schemes, as well as possible solutions to address some of the challenges raised (Section 4); (3) a case study examining the EU-ETS and the EU Linking Directive on project-based mechanisms, in particular on how the EU is addressing in a practical context relevant linking issues (Section 5); (4) a

EU emissions trading. The need for cap adjustment in response to external shocks and unexpected developments?

Energy Technology Data Exchange (ETDEWEB)

Diekmann, Jochen [DIW, Berlin (Germany)

2012-11-15

In this paper the advantages and disadvantages of the various adaptation options will be discussed from an economic perspective. Firstly, the criteria for identifying a need for potentially legitimate adaptation should be investigated. Furthermore, the issue of appropriate timely intervention points prior to or within the trading period will be discussed. In what periods and scenarios are adjustments to the cap worthwhile from an economic perspective? To what extent could minimum prices or price ranges make sense? What role could a strategic reserve play? By addressing these issues, it will be fundamentally discussed as to how the emissions trading scheme could be further developed and strengthened by greater flexibility. After a brief characterisation of emissions trading in theory and practice in Chapter 2, Chapter 3 will identify potential external shocks and unexpected developments which may impair the functioning of an emissions trading scheme. The current problems of cap setting for the third trading period of the EU ETS will be described in Chapter 4. Against this background, cap adjustments will be discussed in Chapter 5, minimum and maximum prices in Chapter 6 and strategic reserves in emissions trading in Chapter 7. The conclusions are summarised in Chapter 8.

Coordination of the EU's emissions trading, energy taxation and subsidies for energy production. Interim Report by the Working Group

International Nuclear Information System (INIS)

2004-01-01

The Working Group was to make preparations for the coordination of emissions trading in the European Union, energy taxation and energy production subsidies. It was supposed to issue an interim report on the role of energy taxation by 15 December 2003. In its interim report, the Working Group examined the present energy taxation scheme and the needs for its development upon the start-up of EU-wide emissions trading in 2005. The aim has been to recognise the immediate needs for amending energy taxation and energy tax subsidies in the near future while taking account of the outlines set out in the Government Programme. From the climate policy perspective, emissions trading is an efficient means of steering, because the commitment set for the emissions trading sector can be met by means of it. At the first stage, the EU's emissions trading will concern carbon dioxide emissions only, and in the future probably also other greenhouse gas emissions mentioned in the Kyoto Protocol. Its steering effect does not extend to other emissions, such as acidifying emissions. Other measures will be required for curbing them. Emissions trading is not a sufficient instrument for energy policy, although it partly directs development in a direction that is favourable for energy policy targets. On top of that, the most important steering mechanism of emissions trading, the price of an emission allowance, is beyond the reach of Finnish energy policy. It is determined on the EU-wide emission allowances market. The current energy taxation and energy tax subsidies safeguard the position of renewable energy sources in the circumstances of emissions trading. The competitiveness of domestic fuels, too, can be partly secured with current taxes. In the energy production of communities and industry, energy wood often replaces peat. i.e. two domestic and local fuels are competing against one another. In condensing power production peat is clearly losing more of its competitive edge the higher the

Evaluation of policy options to reform the EU Emissions Trading System. Effects on carbon price, emissions and the economy

Energy Technology Data Exchange (ETDEWEB)

Verdonk, M.; Brink, C.; Vollebergh, H.; Roelfsema, M.

2013-04-15

The EU Emissions Trading System (EU ETS) is a key instrument of EU climate policy, providing a clear reduction pathway for CO2 emissions. The current carbon price (of about 3 euros per tonne of CO2, April 2013) is much lower than previously expected (which was around 30 euros) and is likely to remain low for a long time. This fuels doubts about whether the ETS will remain a key policy instrument in the long term. Such doubts also increase investment uncertainty, which is likely to have a negative impact on further investments in low-carbon technologies needed for a low-carbon economy in 2050. In November 2012, the European Commission put forward six options for a more structural reform of the EU ETS. The proposed options vary from reducing the cap and expanding the ETS to include other sectors, to strengthening the ETS by measures directly affecting allowance prices. The Dutch Ministry of Infrastructure and the Environment (IenM) asked the PBL Netherlands Environmental Assessment Agency to assess the impact of these options. Four categories of options for reforming the ETS were evaluated: (1) reducing the supply of emission allowances; (2) expanding the ETS by including other sectors; (3) a minimum price for auctioned allowances; and (4) combining ETS with a carbon tax. Recently, the European Parliament voted against the European Commission's proposal to temporarily set aside emission allowances. In an earlier assessment of this proposal, PBL concluded that the impact of this backloading proposal on CO2 prices is likely to be limited, because the total amount of allowances up to 2020 would remain unchanged. All options analysed would reduce emissions and cause the emission price to increase. A minimum price on carbon, however, would provide the best opportunity to make the ETS more robust against unforeseen events, such as a further deterioration of the economy. Such a minimum price would result in more emission reductions if abatement proves to be cheaper

ECO2, Emissions Trading Services, development project

International Nuclear Information System (INIS)

Ruokonen, A.

2006-01-01

Emissions Trading started within EU at the beginning of 2005. It caused substantial changes to the business environment of energy companies and energy intensive industry. The planning of Emissions Trading is a complicated process and companies will need consulting, IT systems and other services. Emissions Trading introduces a new factor of production emission allowances, which are tradable commodities. In future, Emissions Trading emissions, emission allowances and the prices of emission allowances have to be considered during the fuel purchasing and the energy production planning. And the best possible knowledge of the own emissions balance and market situation has a monetary value when trading emission allowances. Allocation of emission allowances has done in each country according to National Allocation Plan (NAP), accepted by EU. Finland itself and thus also the Finnish companies will be net buyers of emission allowances in long run. That means commonly that the Finnish companies have to buy more allowances meaning some extra costs to the companies. That's why it is very important to develop and provide to the companies an innovatory emissions planning, follow-up, management and reporting systems. With good emission balance management the extra costs of Emissions Trading will be as low as possible. In ECO2 project, Empower together with Power-Deriva, developed Expert services, Emissions Balance Management and Reporting services and Risk Management services for Emissions Trading and needed software and tools for these services. (orig.)

The EU Emissions Trading Scheme and Biomass. Final Report

International Nuclear Information System (INIS)

Schwaiger, H.; Tuerk, A.; Arasto, A.; Vehlow, J.; Kautto, N.; Sijm, J.; Hunder, M.; Brammer, J.

2009-02-01

Within its Energy and Climate Package, adopted by the European Parliament in December 2008, the European commission set a 10% minimum for the market share of renewables in the transport sector in 2020. To find the appropriate instruments to reach this target and the instrument mix with which biomass use in general could be best stimulated are the main questions of this project. An important instrument of the European Climate Policy is the European Emissions Trading Scheme (EU-ETS), which started operation in 2005. Previous work done within Bioenergy NoE showed that only a high share of auctioning of allowances and a high CO2 price provide necessary incentives for a higher biomass use. According to the Energy and Climate Package, all allowances will be auctioned in the energy sector from 2013 on, with exceptions for a few CEE countries. Based on work done within the project, a model has been developed to analyse at which CO2 price biomass becomes competitive in case of 100 per cent auctioning or at a lower level. The European Commission furthermore decided not to include the road transport sector into the EU-ETS until 2020. Whether the inclusion of the road transport sector in the EU-ETS, could help introducing biofuels, a separate trading scheme for biofuels should be set up, or biofuels should be addressed with other policy instruments, was another main question of this project. The first result shows that an integrated scheme would hardly have any effects on the use of liquid biofuels in the transportation sector, but might cause higher CO2 prices for the energy and industry sector. A separate trading scheme has been implemented in the UK in 2008, California is planning such as scheme in addition to include the road transport sector into the future ETS. Within this project the design of such as system has been elaborated based on the comparison of several policy instruments to increase the use of liquid biofuels in the transportation sector. Policy interaction

Emissions trading in the Netherlands

International Nuclear Information System (INIS)

Zapfel, P.

2002-01-01

In the article 'Emissions trading in the Netherlands. The optimal route towards an international scheme?' (issue 1, 2002) Mulder asks the question to what extent a Dutch national CO2 trading scheme is a worthwhile effort toward an international trading scheme (i.e. is it a first step toward a European-wide emissions trading scheme) when presenting the proposal of the Dutch Commission on CO2 trade and related economic analysis. His conclusion, underlined by modeling results, is that a national scheme along the lines proposed by the Dutch Commission is an expensive policy instrument due to the high transaction costs. The first-best option according to Mulder is to impose CO2-emissions trading with an absolute ceiling on an international level. In the meantime, he states, improving the design of the energy tax system may be an efficient alternative. In this comment I would like to address two issues. First, does the approach proposed by the Dutch Commission make sense from a European perspective towards an EU-wide cap and trade allowance scheme as proposed by the European Commission in October 2001? and Second, what might this Dutch model and philosophy, scaled up to the EU level, look like?

The central importance of the EU emission trading scheme for achievement of the German climate protection target of 40% until 2020

International Nuclear Information System (INIS)

Hermann, Hauke; Cludius, Johanna

2014-02-01

Both Germany and the European Union have set themselves targets for the reduction of greenhouse gas (GHG) emissions. The EU was the forerunner in 2008 when it adopted the Climate and Energy package and set a target of reducing GHG emissions by 20 % by 2020 compared to 1990. Two years later, Germany adopted a range of national GHG targets in the context of the German government's Energy Concept. This includes a 40% emissions reduction target to be met by 2020. One of the main instruments for achieving GHG emissions reduction targets is the EU Emissions Trading Scheme (EU ETS), which covers all large industrial and combustion installations in Europe. According to the agreement made in 2008 (Climate and Energy Package), the effort to achieve the EU's 20 % reduction target by 2020 was split between the ETS sector (2/3 of the reduction effort, representing a 21 % reduction in GHG emissions for installations covered under the ETS compared to 2005) and the non-ETS sector (1/3 of the reduction effort, representing a 10 % reduction compared to 2005). Logically, GHG emissions reductions occurring in German ETS installations count both towards the EU and the national target. This research project has been commissioned to analyse whether the ETS in its cur-rent design can contribute its fair share in efforts to meet the national emissions reduc-tion target. This question is particularly relevant in light of the following considerations: - The new German Coalition Agreement, signed in December 2013, reiterated the national target of a 40 % reduction of GHG emissions by 2020 compared to 1990 levels. - At the same time, the new Coalition Agreement stated that changes to the ETS are only to be considered if the EU GHG emissions reduction target will not be met. - There is a surplus of CO2 allowances on the ETS market, which undermines the credibility of the instrument as well as the integrity of the emissions reduction tar-gets (both European and national). At the same time, the

Carbon Emission Trading. A survey of regional and national emission trading schemes outside the European Union; Handel med utslaeppsraetter. Kartlaeggning av EU-externa regionala och nationella system foer handel med koldioxidutslaepp

Energy Technology Data Exchange (ETDEWEB)

Widegren, Karin

2007-03-15

For those countries that ratified the Kyoto Protocol this is naturally one of the most important incentives for the introduction of mandatory measures such as emissions trading schemes. At the same time, there are major similarities between the political discussions in countries that ratified the Kyoto Protocol and countries that did not. In all countries there is a great interest in market-based regulation such as emissions trading, at the same time as the political difficulties in achieving unity on the limits and shaping of the systems are very substantial. In countries with a federal government, operators at the regional level frequently have a prominent role. The driving force for the regional players is frequently a desire to influence the federal policy from below at the same time as goodwill is created and a learning process is developed that may become a competitive advantage the day a federal system is introduced. Regional initiatives and the introduction of different voluntary programs for emissions trading have also contributed to an increased interest on the part of industry and industrial operators. They have in several cases actively participated in the design of such programs. When it comes to the operational status of the different schemes none of the studied countries is expected to have a nationally compulsory trading system in operation prior to 2010. Most initiatives are at the initial stage and have been delayed many times on account of significant administrative and political difficulties. It may be established that as regards market volume, liquidity and practical experiences EU ETS is in a class of its own. The most common trading system that is planned or debated is of the type 'cap and trade'. Systems focus almost without exception on the energy sector and on emissions of carbon dioxide. Frequently, proposals include a wide variety of approved emission credits (offset). The design of these emission credits often reflects other

Carbon Emission Trading. A survey of regional and national emission trading schemes outside the European Union; Handel med utslaeppsraetter. Kartlaeggning av EU-externa regionala och nationella system foer handel med koldioxidutslaepp

Energy Technology Data Exchange (ETDEWEB)

Widegren, Karin

2007-03-15

For those countries that ratified the Kyoto Protocol this is naturally one of the most important incentives for the introduction of mandatory measures such as emissions trading schemes. At the same time, there are major similarities between the political discussions in countries that ratified the Kyoto Protocol and countries that did not. In all countries there is a great interest in market-based regulation such as emissions trading, at the same time as the political difficulties in achieving unity on the limits and shaping of the systems are very substantial. In countries with a federal government, operators at the regional level frequently have a prominent role. The driving force for the regional players is frequently a desire to influence the federal policy from below at the same time as goodwill is created and a learning process is developed that may become a competitive advantage the day a federal system is introduced. Regional initiatives and the introduction of different voluntary programs for emissions trading have also contributed to an increased interest on the part of industry and industrial operators. They have in several cases actively participated in the design of such programs. When it comes to the operational status of the different schemes none of the studied countries is expected to have a nationally compulsory trading system in operation prior to 2010. Most initiatives are at the initial stage and have been delayed many times on account of significant administrative and political difficulties. It may be established that as regards market volume, liquidity and practical experiences EU ETS is in a class of its own. The most common trading system that is planned or debated is of the type 'cap and trade'. Systems focus almost without exception on the energy sector and on emissions of carbon dioxide. Frequently, proposals include a wide variety of approved emission credits (offset). The design of these emission credits often reflects other political

Emissions Trading: The Ugly Duckling in European Climate Policy?

Energy Technology Data Exchange (ETDEWEB)

Wraake, Markus

2009-07-15

The initial years of the European Union's Emissions Trading System (EU ETS) have provided a large-scale testing ground for trading of a new environmental commodity, carbon dioxide. This paper provides an overview of the origins and characteristics of the EU ETS. It then goes on to analyse the most contentious issues that have been discussed in the economics literature and in the public debate surrounding the trading system. The lessons learned are diverse and not all experiences are positive. Nevertheless, invaluable information has been gained from the EU ETS and policy makers in Europe and elsewhere would be wise to make use of it, be they supporters of emissions trading or sceptics to such policies. The paper concludes with a look toward the future, highlighting some upcoming revisions of the EU ETS and at what issues remain unresolved

EU energy-intensive industries and emissions trading: losers becoming winners?

Energy Technology Data Exchange (ETDEWEB)

Wettestad, Joergen

2008-11-15

The EU Emissions Trading System (ETS) initially treated power producers and energy-intensive industries similarly, despite clear structural differences between these industries regarding pass through of costs and vulnerability to global competition. Hence, the energy-intensive industries could be seen as losing out in the internal distribution. In the January 2008 proposal for a reformed ETS post-2012, a differentiated system was proposed where the energy-intensive industries come out relatively much better. What is the explanation for the change taking place? Although power producers still have a dominant position in the system, the increasing consensus about windfall profits has weakened their standing. Conversely, the energy-intensive industries have become better organised and more active. This balance shift is first and foremost noticeable in several important EU-level stake holder consultation processes. Energy-intensive industries have, however, also successfully utilised the national pathway to exert influence on Brussels policy-making. Finally, growing fear of lax global climate policies and related carbon leakage has strengthened the case of these industries further. The latter dimension indicates that although energy-intensive industries have managed to reduce internal distribution anomalies, external challenges remain. (author). 9 refs

CO2 trade and market power in the EU electricity sector

International Nuclear Information System (INIS)

Tinggaard Svendsen, G.; Vesterdal, M.

2002-01-01

The EU commission is planning to launch an emission trading market for greenhouse gases within near future. This to meet its obligations under the United Nations Framework Convention on Climate Change and the Kyoto Protocol. After a theoretical discussion on market power in such a market, wc turn to the empirical evidence which suggests that a reasonable number of sources of C02 emissions in the power sector exists for bollers larger than 25MW. Overall, together with the contestable single market for electricity, the risk of significant strategies behaviour seems negligible. Thus, the electric utility sector seems a suitable testing ground for an EU-scheme of emissions trading. In the longer run, it will be important to broaden the scope of the trading scheme as the inclusion of other sectors will further limit the risk of market power. (au)

CO2 trade and market power in the EU electricity sector

Energy Technology Data Exchange (ETDEWEB)

Tinggaard Svendsen, G; Vesterdal, M

2002-07-01

The EU commission is planning to launch an emission trading market for greenhouse gases within near future. This to meet its obligations under the United Nations Framework Convention on Climate Change and the Kyoto Protocol. After a theoretical discussion on market power in such a market, wc turn to the empirical evidence which suggests that a reasonable number of sources of C02 emissions in the power sector exists for bollers larger than 25MW. Overall, together with the contestable single market for electricity, the risk of significant strategis behaviour seems negligible. Thus, the electric utility sector seems a suitable testing ground for an EU-scheme of emissions trading. In the longer run, it will be important to broaden the scope of the trading scheme as the inclusion of other sectors will further limit the risk of market power. (au)

Emission abatement: Untangling the impacts of the EU ETS and the economic crisis

International Nuclear Information System (INIS)

Bel, Germà; Joseph, Stephan

2015-01-01

In this study we use historical emission data from installations under the European Union Emissions Trading System (EU ETS) to evaluate the impact of this policy on greenhouse gas emissions during the first two trading phases (2005–2012). As such the analysis seeks to disentangle two causes of emission abatement: that attributable to the EU ETS and that attributable to the economic crisis that hit the EU in 2008/09. To do so, we use a dynamic panel data approach. Our results suggest that, by far, the biggest share of abatement was attributable to the effects of the economic crisis. This finding has serious implications for future policy adjustments affecting core elements of the EU ETS, including the distribution of EU emission allowances. - Highlights: • We untangle the effects of the EU ETS from those of the economic crisis on industrial emission abatement. • The empirical analysis uses verified emission data instead of estimated emission data. • Abatement of emissions in EU in the last years has been mainly due to the impact of the economic crisis. • Low level of abatement attributable to the EU ETS suggests that important changes must be made in environmental policy

6. Analisis Implementasi Cyber Security Di Uni Eropa: Studi Kasus Carbon Credits Hacking Dalam European Union Emission Trading Scheme (EU ETS) Tahun 2010-2013

OpenAIRE

Aisya, Naila Sukma; Putranti, Ika Riswanti; Wahyudi, Fendy Eko

2017-01-01

Since the last two decades in the 20th century, the European Union (EU) has presented itself as a leader in climate change issues. The leadership manifested in the formation of the European Union Emission Trading Scheme (EU ETS) as an effort to fulfill the commitments of the Kyoto Protocol to reduce emissions in the region. But the existence of the EU ETS has been challenged by the emergence of carbon credits hacking case in some national registration systems in the EU ETS. This study discuss...

Cost distribution for the EU ETS. Who pays for the costs of the third phase of the European Emissions Trading System?

International Nuclear Information System (INIS)

De Bruyn, S.M; De Jong, F.L.; Korteland, M.H.; Nelissen, D.; Markowska, A.Z.

2010-06-01

After 2012, the third phase of the EU Emissions Trading Scheme (EU ETS) that lasts until 2020 will come into effect. New in this phase is the European harmonized rights issue in which for each sector the basic emission rights and the issue of those rights is fixed. Also, a significantly larger proportion of those rights will be auctioned. For the Netherlands the third phase of the EU ETS means that the emissions of companies in 2020 should be reduced by 21% compared to 2005. This involves costs for these companies, including the purchase of rights or taking technical and organizational measures to cut CO2 emissions. This study provides insight into the magnitude of these costs, who will bear the cost and the total direct income effects on businesses, consumers and government. [nl

Economic impact assessment of Turkey's post-Kyoto vision on emission trading

International Nuclear Information System (INIS)

Akın Olçum, Gökçe; Yeldan, Erinç

2013-01-01

For the post-Kyoto period, Turkey strongly emphasizes the establishment of national emission trading system by 2015 and its integration with the EU ETS along its accession process to the EU. In this paper, we study the mechanisms of adjustment and economic welfare consequences of various ETS regimes that Turkey considers to apply by 2020, i.e. regional ETS and international trading within the EU ETS. We conduct our analysis under the current EU 20–20–20 emission target, 20%, and also under its revised version, 30%. We find that Turkey has economic gains from linking with the EU ETS under the 20% cap, in comparison to the domestic ETSs. Despite the EU's welfare loss under linkage in comparison to the case where Turkey has domestic abatement efforts, it still prefers linking as it increases economic well being compared to the case where Turkey does not abate. Under 30% cutback, Turkey has critical output loss under linkage due to high abatement burden on the EU, while the EU is better off as it passes some of its abatement burden to Turkey. Therefore, emission quotas and their allocation across the ETS and non ETS sectors become highly critical in distributing the overall economic gains from bilateral trading. - Highlights: • We conduct welfare analysis of Turkey's post-Kyoto vision on emission trading. • Welfare impacts of having Turkey in the EU ETS via EU accession are analyzed. • Analysis is done with the current EU target of 20%, and the revised target of 30%. • Welfare impacts of linkage on both regions highly depend on the emission targets. • The EU has welfare gains when Turkey engages in abatement actions

Business as usual in spite of the CO2 trade of the EU

International Nuclear Information System (INIS)

Wellander, Dag

2004-01-01

The trade system that is going to be launched by the EU at the turn of the year (2004/2005) has some serious shortcomings as it was originally formulated. It is limited to the EU. It is only partial; it applies only to emission sources in the energy sector and some energy-intensive sectors. Both limitations raise the costs of cutting down on the emissions, which would have hit the EU unilaterally. According to the author, work is now in progress to make the trade system as inefficient as possible, aiming at ''business as usual''. The climate problems cannot be solved without global cooperation, which is not in sight

Greenhouse Gas Emissions Trading for the Transport Sector

International Nuclear Information System (INIS)

Holmgren, Kristina; Belhaj, Mohammed; Gode, Jenny; Saernholm, Erik; Zetterberg, Lars; Aahman, Markus

2006-12-01

In this study we have analysed different options to apply emissions trading for greenhouse gas emissions to the transport sector. The main focus has been on the EU transport sector and the possibility to include it in the current EU ETS in the trading period beginning in 2013. The purpose was to study how different alternatives will affect different actors. Focus has been on three sub-sectors; road transport, aviation and shipping. The railway sector has only been treated on a general level. The study includes the following three parts: 1. An economic analysis of the consequences of greenhouse gas emissions trading for the transport sector including an analysis of how the total cost for reaching an emission target will be affected by an integrated emissions trading system for the transport sector and the industry (currently included sectors) compared to separate systems for the sectors, 2. An analysis of design possibilities for the different sub-sectors. Discussion of positive and negative aspects with different choices of design parameters, such as trading entity, covered greenhouse gases, allocation of emission allowances and monitoring systems, 3. Examination of the acceptance among different actors for different options of using greenhouse gas emissions trading in the transport sector. When setting up an emissions trading scheme there are a number of design parameters that have to be analysed in order to find an appropriate system, with limited administrative and transaction costs and as small distortions as possible to competitiveness

Interaction between the EU emissions trading scheme and energy policy instruments in the Netherlands. Implications of the EU Directive for Dutch Climate Policies

International Nuclear Information System (INIS)

Sijm, J.P.M.; Van Dril, A.W.N.

2003-11-01

The present study analyses the potential interactions between the EU Emissions Trading Scheme (EU ETS) and some selected energy and climate policy instruments in the Netherlands. These instruments include: (1) The Benchmarking Covenant (BC): a negotiated agreement with energy-intensive industries in order to improve their energy efficiency; (2) The Regulatory Energy Tax (REB): an ecotax (or levy) on the consumption of gas and electricity, including the partial exemption of this ecotax on renewable electricity; (3) The Environmental Quality of Electricity Production (MEP): a feed-in subsidy system for producers of renewable electricity; and (4) The system of Tradable Green Certificates (TGCs): a system of guarantees of origin to promote renewable electricity based on the partial exemption of the REB. A general finding of the present report is that once the EU ETS becomes operational, the effectiveness of all other policies to reduce CO2 emissions of the participating sectors becomes zero. The report explores the specific implications of this general finding for the coexistence of the EU ETS and the selected policy instruments in the Netherlands. It concludes that this coexistence will have a significant impact on the performance of both the EU ETS and the selected instruments in the Netherlands

National Emissions Trading; Interim Report by the Committee on the Kyoto mechanisms

International Nuclear Information System (INIS)

2001-01-01

By emissions trading is meant that operators eligible for emissions trading can trade in emission rights, which entitle the operator to greenhouse gas emissions. The domestic emissions trading in gases released into the atmosphere would be limited to domestic units and emissions only. Emissions trading does not reduce emissions. Emissions are reduced by investments and changes in lines of action. The role of the national emissions trading depends on the overall national climate programme. Emissions trading - especially if it is connected with quotas imposed on greenhouse gas emissions or with other quantitative restrictions - is a strong instrument of which there is no previous experience in Finland. Compared to mere emission quotas, emissions trading might, however, offer a flexible and cost-efficient means of meeting the emission targets. The Committee thinks that the majority of - and most important - points speak in favour of the option that, if emissions trading is to be taken among the methodology of the climate policy, it is more profitable and more cost-efficient for Finland to use emissions trading as one instrument included in the climate policy together with other countries. The emissions trading area should also include countries that have lower costs of reducing emissions than those of Finland. The Committee does not propose that emissions trading between companies be initiated so as to be applicable in Finland only. If the EU Member States and the Community ratify the Kyoto Protocol and if emissions trading within the EU area begins, Finland will have to consider joining the trading system. If no decisions are made on the EU trading system by the year 2005, or if Finland cannot join it due to an implementation method that would be disadvantageous to Finland, Finland will have to consider joining the emissions trading system especially on the regional level covering the Nordic countries and the Baltic Sea States. Before joining any emissions trading

National Emissions Trading; Interim Report by the Committee on the Kyoto mechanisms

International Nuclear Information System (INIS)

2001-01-01

By emissions trading is meant that operators eligible for emissions trading can trade in emission rights, which entitle the operator to greenhouse gas emissions. The domestic emissions trading in gases released into the atmosphere would be limited to domestic units and emissions only. Emissions trading does not reduce emissions. Emissions are reduced by investments and changes in lines of action. The role of the national emissions trading depends on the overall national climate programme. Emissions trading - especially if it is connected with quotas imposed on greenhouse gas emissions or with other quantitative restrictions - is a strong instrument of which there is no previous experience in Finland. Compared to mere emission quotas, emissions trading might, however, offer a flexible and cost-efficient means of meeting the emission targets. The Committee thinks that the majority of - and most important- points speak in favour of the option that, i emissions trading is to be taken among the methodology of the climate policy, it is more profitable and more cost-efficient for Finland to use emissions trading as one instrument included in the climate policy together with other countries. The emissions trading area should also include countries that have lower costs of reducing emissions than those of Finland. The Committee does not propose that emissions trading between companies be initiated so as to be applicable in Finland only. If the EU Member States and the Community ratify the Kyoto Protocol and if emissions trading within the EU area begins, Finland will have to consider joining the trading system. If no decisions are made on the EU trading system by the year 2005, or if Finland cannot join it due to an implementation method that would be disadvantageous to Finland, Finland will have to consider joining the emissions trading system especially on the regional level covering the Nordic countries and the Baltic Sea States. Before joining any emissions trading

Carbon Countdown. Emissions trading to combat climate change

International Nuclear Information System (INIS)

2006-06-01

The European Emission Trading Scheme (EU ETS) is a crucial cornerstone of climate change policy in Europe and the first international trading system for carbon dioxide (CO2) emissions in the world. The ETS is a major part of the solution to one of the biggest challenges humanity is facing: global warming. A WWF review of Phase 1 of the European Emission Trading Scheme and recommendations to improve its environmental effectiveness and economic efficiency for Phase 2

EU trade in the time of financial crisis

Directory of Open Access Journals (Sweden)

Fojtíková, L.

2010-12-01

Full Text Available The paper is focused on the European Union (EU trade and trade policy in the time of global financial and economic crisis. The analysis of the EU exports and imports points out that the financial crisis has had a negative impact on the intra as well as on the extra-EU trade in the period 2007-2009, but differences among the EU member states have existed. Although the EU tries to support trade development in the world and remove barriers to trade, some protectionist tendencies were recorded in the time of the economic crisis. The last part of the paper gives emphasis to the EU trade policy and some trade measures which have been taken in the EU and its member states to support trade development or vice versa, to protect domestic industries. The results of the analysis show that, although some protectionist tendencies have been recorded both in extra and intra-EU trade, trade relations which are provided among member states are of significant importance all the time.

CO2 price dynamics. The implications of EU emissions trading for the price of electricity

International Nuclear Information System (INIS)

Sijm, J.P.M.; Bakker, S.J.A.; Harmsen, H.W.; Lise, W.; Chen, Y.

2005-09-01

The present study analyses the relationship between EU emissions trading and power prices, notably the implications of free allocation of emissions allowances for the price of electricity in countries of North-western Europe. To study this impact, it uses a variety of analytical approaches, including interviews with stakeholders, empirical and statistical analyses, theoretical explorations, and analyses by means of the COMPETES model. The study shows that a significant part of the costs of freely allocated allowances is passed through to power price and discusses its implications in terms of higher electricity prices for consumers and windfall profits for producers. It concludes that free allocation of emission allowances is a highly questionable policy option for a variety of reasons and suggests that auctioning might offer a better perspective

EU-Type Carbon Emissions Trade and the Distributional Impact of Overlapping Emissions Taxes

OpenAIRE

Thomas Eichner; Rüdiger Pethig

2009-01-01

The European Union fulfills its emissions reductions commitments by means of an emissions trading scheme covering some part of each member state’s economy and by national emissions control in the rest of their economies. The member states also levy energy/emissions taxes overlapping with the trading scheme. Restricting our focus on cost-effective policies, this paper investigates the distributive consequences of increasing the overlapping emissions tax that is uniform across countries. For ...

Challenges of a common climate policy. An analysis of the development of the EU Emissions Trading Scheme

International Nuclear Information System (INIS)

Aufenanger, Vanessa

2012-01-01

The emissions trading scheme (EU ETS) adopted by the European Union in 2003 was a new instrument for the EU and its Member States. It is one of the most important strategies of achieving the EU's greenhouse gas reduction target under the Kyoto Protocol. This book analyses the policy cycle of the EU ETS Directive, focusing on the crucial implementation phase. The revised EU ETS Directive of 2009 includes significant changes for greater ecological effectiveness, changes that were unlikely to have been adopted in 2003. It is evident that the experiences of the first phase influenced not only the second implementation phase but also the revision. The intensive learning process that took place on all levels was necessary to overcome institutional constraints so that the EU ETS could be successfully established and further developed. The EU ETS policy-making is a good example to demonstrate that output legitimacy challenges input legitimacy. With the centralisation of the EU ETS in 2013 it is likely to become a more effective system; however, the legislators from the Member States may lose influence. This problem will have to be addressed.

The enlargement of the European Union. Effects on trade and emissions of greenhouse gases

International Nuclear Information System (INIS)

Zhu, Xueqin; Van Ierland, Ekko

2006-01-01

With the gradual accession of various Central and Eastern European Countries (CEECs) to the European Union (EU), international trade between the EU and the CEECs will change as a result of trade liberalisation and the mobility of production factors within the EU. The EU and most of the CEECs have already committed themselves to reduce by 2008-2012 their emissions of greenhouse gases (GHGs) by 8% compared to the 1990 level. This paper reports on an investigation of the potential consequences of the enlargement of the EU and of the emission reduction target set by the Kyoto Protocol on the sectoral production patterns and international trade. A comparative-static general equilibrium model was developed to examine the impacts under different scenarios. For illustrative purposes, two regions (the EU and the CEECs) and three categories of goods and services (agricultural goods, industrial goods, and services) were included. The model was calibrated by the 1998 data. The model was subsequently applied to study the effects of free trade, the mobility of factors and the environmental constraints on production and international trade in light of the enlargement of the EU. We show that in this specific context, free trade is beneficial to economic welfare and does not necessarily increase emissions of greenhouse gases. The mobility of factors also increases economic welfare, but in the case of fixed production technology it may harm the environment through more emissions of GHGs. (author)

Why Does Emissions Trading under the EU ETS Not Affect Firms' Competitiveness? Empirical Findings from the Literature

OpenAIRE

Joltreau, Eugénie; Sommerfeld, Katrin

2017-01-01

Environmental policies may have important consequences for firms’ competitiveness or profitability. However, the empirical literature shows that hardly any statistically significant effects on firms can be detected for the European Union Emissions Trading Scheme (EU ETS). On the basis of existing literature, we focus on potential explanations for why the empirical literature finds hardly any significant competitiveness effects on firms, least not during the first two phases of the scheme (...

The downside of emissions trading

International Nuclear Information System (INIS)

Viialainen, M.

2004-01-01

High unemployment and redundancies are a major problem in Finland today, and the economic downturn has only intensified as a result of the weak dollar and low investments. The growth of the global economy and the expansion of the EU are likely to see the shift in production and jobs away from Finland to low- cost countries, such as China or the countries of Eastern Central Europe, only intensily. The cost burden imposed by emissions trading will be an added problem. The disproportionally high emission reduction demands placed on Finland within the EU could lead to the loss of as many as 15,000 jobs, according to some estimates

The EU as a frontrunner on greenhouse gas emissions trading. How did it happen and will the EU succeed?

International Nuclear Information System (INIS)

Christiansen, Atle C.; Wettestad, Joergen

2003-01-01

The objective of this paper is first to provide empirical evidence of what can be seen as a rather remarkable change in EU's position on the use of greenhouse gas (GHG) emissions trading (ET) in climate policy, from the role of a sceptic in the run-up to Kyoto towards more of a frontrunner. The paper argues that there is a synergistic and multilevel mix of explanatory factors for this 'U-turn', including developments at the international, EU, Member State, sub-national, and even down to the personal level. Second, the paper explores and discusses the philosophy behind the Commission's proposal for a directive on GHG ET. Third, the paper examines the prospects for 'success' of a scheme for EU-wide ET using a multifaceted set of metrics. In brief, we argue that output success - the chances for having a directive adopted - hinges on the resolution of two key issues. First, whether the preliminary phase is to be mandatory or voluntary, and second, incompatibilities with domestic ET schemes. Outcome success - steering and cost-effectiveness - will in turn depend on factors like the coverage of the scheme and inclusion of project-based credits, while more long-term political implications hinges on the successful adoption and operation of the scheme

EU emission trading. Requirement of adaptation of the Cap as a consequence of external shocks and unexpected developments?; EU-Emissionshandel. Anpassungsbedarf des Caps als Reaktion auf externe Schocks und unerwartete Entwicklungen?

Energy Technology Data Exchange (ETDEWEB)

Diekmann, Jochen [DIW, Berlin (Germany)

2012-11-15

The effectivity of the European emission trading system (EU-ETS) with respect to the reduction of greenhouse gas emissions based essentially on the quantity of the emission caps. The regional, sectorial and temporal boundaries of this system as well as the regulations covering international flexible mechanisms and banking have to be considered in the evaluation of the effectivity of the EU-ETS. Under this aspect, the authors of the contribution under consideration discuss the advantages and disadvantages of the different variants of adjustment. First of all, the criteria for an identification of a possible justified needs of adaptation are investigated. Furthermore, the authors discuss the question about suitable points in time for an intervention.

The game of trading jobs for emissions

International Nuclear Information System (INIS)

Arto, I.; Rueda-Cantuche, J.M.; Andreoni, V.; Mongelli, I.; Genty, A.

2014-01-01

Following the debate on the implications of international trade for global climate policy, this paper introduces the topic of the economic benefits from trade obtained by exporting countries in relation to the emissions generated in the production of exports. In 2008, 24% of global greenhouse gas (GHG) emissions and 20% of the employment around the world were linked to international trade. China “exported” 30% of emissions and hosted 37.5% of the jobs generated by trade worldwide. The European Union and the United States of America were the destination of 25% and 18.4% of the GHG emissions embodied in trade. The imports of these two regions contributed to the creation of 45% of the employment generated by international trade. This paper proposes the idea of including trade issues in international climate negotiations, taking into account not only the environmental burden generated by developed countries when displacing emissions to developing countries through their imports, but also the economic benefits of developing countries producing the goods exported to developed countries. - Highlights: • Employment and trade issues should be considered in GHG emission reduction policies. • In 2008 24% of global GHG emissions and 20% of the employment are linked to trade. • 43% of GHG and 45% of employment embedded in trade are due to EU and US imports. • China exports 30% of the GHG and hosts 38% of the jobs generated by trade worldwide

A research on EU trade policy system

Directory of Open Access Journals (Sweden)

Qi Sitong

2017-08-01

Full Text Available The EU is the world’s largest trade group, occupying an important position in the world trade in goods and services, especially in the field of service trade. The EU trade in services exports and imports are higher than the United States and Japan, and the EU is the world’s largest capital output and input group, and the world’s largest foreign aid providers. With the deepening of the European integration process, Europe’s position in the world economy and trade is on the rise. Therefore, the EU’s trade policy has increasingly become the focus of attention. From the vertical point of view, research directions can be divided into trade in goods policy, trade in services policy, international direct investment policy, trade-related intellectual property policy four field. In this paper, the four vertical areas are illustrated as the focus of the study.

Legal frameworks for emissions trading in the European Union

Energy Technology Data Exchange (ETDEWEB)

Maeaettae, K.; Anttonen, K. (Univ. of Joensuu (Finland)). Email: kalle.maatta@joensuu.fi; Upston-Hooper, K. (GreenStream Networks, Helsinki (Finland)); Mehling, M. (Univ. of Greifswald (Germany)); Perrels, A. (Government Institute for Economic Research VATT, Helsinki (Finland)), email: adriaan.perrels@vatt.fi

2009-07-01

The project is based on a comparative and pragmatic review of the legal frameworks for implementing the EU Emission Trading Scheme (ETS) in four EU jurisdictions (Finland, Sweden, United Kingdom and Germany). The project does not seek to examine the rationale of utilizing tradable mechanisms nor assess the costs and benefits of doing so. Its primary focus is to undertake a detailed study of the legal realities involved in implementing the EU ETS, particularly those issues of commercial importance such as taxation and accounting rules. The methodology adopted has been to formulate a comprehensive questionnaire (of approximately 70 questions) to be used as the basis of national reports together with a stand alone analysis by VATT, and in turn use the national reports and VATT study as the building blocks of a comparative overview report. The questionnaire seeks to highlight those significant legal and regulatory issues that impact on the establishment of emission allowance trading arrangements within the respective jurisdictions. The comparative analysis of these issues will focus on 'golden threads' of similarity and difference that impact on the establishment of an internal market within the European Union for the trading of emissions allowances. (orig.)

Legal frameworks for emissions trading in the European Union

International Nuclear Information System (INIS)

Upston-Hooper, K.; Perrells, A.; Anttonen, K.; Mehling, M.

2007-01-01

The Project is based on a comparative and pragmatic review of the legal frameworks for implementing the EU Emission Trading Scheme (ETS) in four EU jurisdictions (Finland, Sweden, United Kingdom and Germany). The Project does not seek to examine the rationale of utilizing tradable mechanisms nor assess the costs and benefits of doing so. Its primary focus is to undertake a detailed study of the legal realities involved in implementing the EU ETS, particularly those issues of commercial importance such as taxation and accounting rules. The methodology adopted has been to formulate a comprehensive questionnaire (of approximately 70 questions) to be used as the basis of national reports together with a stand alone analysis by VATT, and in turn use the national reports and VATT study as the building blocks of a comparative overview report. The questionnaire seeks to highlight those significant legal and regulatory issues that impact on the establishment of emission allowance trading arrangements within the respective jurisdictions. The comparative analysis of these issues will focus on 'golden threads' of similarity and difference that impact on the establishment of an internal market within the European Union for the trading of emissions allowances. (orig.)

Climate policy and trade policy - The French proposal for a EU-wide border tax adjustment for CO2 emissions

International Nuclear Information System (INIS)

Damian, M.; Abbasn, M.

2007-01-01

The paper examines the French proposal to establish a EU-wide border tax adjustment for CO 2 emissions. The tax seeks to offset competitive distortions toward European industries which incur the cost of the Kyoto Protocol and to prompt European competitors to join the Kyoto Protocol. So far, the debate has chiefly focused on the compatibility of such a border tax adjustment with the rules of the multilateral trading system of the World Trade Organization. Without auguring how a dispute would eventually be settled within the WTO frame-work, the paper argues that the implementation of a border tax adjustment is not as much an issue of technical feasibility or compatibility with the multilateral trading system, as a matter of collective determination to drastically reduce greenhouse gas emissions. The French proposal is a yardstick for climate policy after the expiration of the Kyoto Protocol in 2012. The paper looks in more details into the core directions of pending negotiations. (authors)

Creating a level playing field? The concentration and centralisation of emissions in the European Union Emissions Trading System

International Nuclear Information System (INIS)

Bryant, Gareth

2016-01-01

This article questions the assumption that carbon markets create a level playing field by exploring the relationship between the organisation of capital and the organisation of emissions in the European Union Emissions Trading System (EU ETS). It constructs a database by matching installations and owners to reveal that a relatively small number of large-scale coal-fired power stations, owned by a very small group of states and corporations, are responsible for a significant proportion of greenhouse gas emissions. The findings are analysed by considering how technological dependence on coal together with the corporate institutional form combine to support the socio-spatial concentration and centralisation of capital and emissions. Case studies of the consolidation of the seven largest polluting owners from Europe's coal-dependent electricity sector and the carbon trading strategies of the two largest polluters, RWE and E.ON, then assess the impacts of energy liberalisation and emissions trading policies. The article concludes that EU energy and climate policies are pulling in different directions by clustering responsibility for greenhouse gas emissions and diffusing responsibility to address climate change. The uneven distribution of emissions within the EU ETS makes an alternative policy approach that directly targets the biggest corporate and state polluters both feasible and necessary. - Highlights: • 20 ultimate owners are responsible for one-half of 2005–12 EU ETS emissions. • 83 installations are responsible for one-third of 2005–12 EU ETS emissions. • Focus on technological dependence on coal and the corporate institutional form. • Energy liberalisation policy has consolidated responsibility for emissions. • Carbon markets have diffused responsibility for addressing climate change.

The central importance of the EU emission trading scheme for achievement of the German climate protection target of 40% until 2020; Die zentrale Bedeutung des EU-Emissionshandels zur Erreichung des deutschen Klimaziels in Hoehe von 40 % bis 2020

Energy Technology Data Exchange (ETDEWEB)

Hermann, Hauke; Cludius, Johanna

2014-02-15

Both Germany and the European Union have set themselves targets for the reduction of greenhouse gas (GHG) emissions. The EU was the forerunner in 2008 when it adopted the Climate and Energy package and set a target of reducing GHG emissions by 20 % by 2020 compared to 1990. Two years later, Germany adopted a range of national GHG targets in the context of the German government's Energy Concept. This includes a 40% emissions reduction target to be met by 2020. One of the main instruments for achieving GHG emissions reduction targets is the EU Emissions Trading Scheme (EU ETS), which covers all large industrial and combustion installations in Europe. According to the agreement made in 2008 (Climate and Energy Package), the effort to achieve the EU's 20 % reduction target by 2020 was split between the ETS sector (2/3 of the reduction effort, representing a 21 % reduction in GHG emissions for installations covered under the ETS compared to 2005) and the non-ETS sector (1/3 of the reduction effort, representing a 10 % reduction compared to 2005). Logically, GHG emissions reductions occurring in German ETS installations count both towards the EU and the national target. This research project has been commissioned to analyse whether the ETS in its cur-rent design can contribute its fair share in efforts to meet the national emissions reduc-tion target. This question is particularly relevant in light of the following considerations: - The new German Coalition Agreement, signed in December 2013, reiterated the national target of a 40 % reduction of GHG emissions by 2020 compared to 1990 levels. - At the same time, the new Coalition Agreement stated that changes to the ETS are only to be considered if the EU GHG emissions reduction target will not be met. - There is a surplus of CO2 allowances on the ETS market, which undermines the credibility of the instrument as well as the integrity of the emissions reduction tar-gets (both European and national). At the same

Emissions trading for climate policy - US and European perspectives

Energy Technology Data Exchange (ETDEWEB)

Bernd Hansjuergens (ed.) [Martin Luther-Universitaet Halle-Wittenburg (Germany)

2005-07-01

The 1997 Kyoto Conference introduced emissions trading as a new policy instrument for climate protection. Bringing together scholars in the fields of economics, political science and law, this book provides a description, analysis and evaluation of different aspects of emissions trading as an instrument to control greenhouse gases. The authors analyse theoretical aspects of regulatory instruments for climate policy, provide an overview of US experience with market-based instruments, draw lessons from existing trading schemes for the control of greenhouse gases, and discuss options for emissions trading in climate policy. They also highlight the background of climate policy and instrument choice in the US and Europe and of the emerging new systems in Europe, particularly the new EU's directive for a CO{sub 2} emissions trading system. 8 figs., 15 tabs.

Developments in the emissions trading market 2009; Utvecklingen paa utslaeppsraettsmarknaden 2009

Energy Technology Data Exchange (ETDEWEB)

Bohnstedt, Sophie; Karlberg, Marie; Myrman, Johanna

2010-07-01

The Energy Agency has analyzed the development of emissions trading within the EU and globally in 2009. The analysis relates to larger events which mainly affected the prices and traded volumes during the year. The analysis includes the market for European emissions, markets for the project-based mechanisms, development of trade with the assigned emission units (AAUs), the unregulated market and developments in other trading in the world. The report is based on existing studies and monitoring of markets development during January to November 2009

European emissions trading - the business perspective

International Nuclear Information System (INIS)

Pocklington, D.

2002-01-01

Annex I parties to the Kyoto Protocol will commit to reducing the emissions of the basket of greenhouse gases by the equivalent of 135 MtC by the first commitment period of 2008-2012. Within the overall target, the EU has agreed to an average reduction of 8%, although this is subject to burden sharing within an EU ''bubble'', in which there are substantial differences in Member States' allocations. The instruments for reduction are emissions trading, industrial country joint implementation and clean development mechanism. By their nature, market instruments, such as emissions trading, are reliant upon the efficient operation of the market, which in turn depends upon the full involvement of the maximum number of participants to ensure liquidity. Although emissions trading has been generally welcomed by industry, when the proposals were published, many representative organisations expressed reservations concerning its format and details. The position papers of those organisations reviewed in this article demonstrate that within industry there is a high degree of unanimity on the majority of the critical issues within the current proposal, and agreement on the components that should be included in the final version. If the Commission's ambitious timetable is to be achieved, significant changes will need to be made to the proposal, for it is unlikely to achieve early adoption in its present form, and the longer the process takes, the more the national schemes will have the opportunity to develop and ultimately shape the EU scheme that is eventually agreed. In this respect, there certainly will be ''early mover advantage'' to those Member States that have or are currently establishing their own schemes, and have the requisite political weight to impose their views. (author)

Further development of the EU Emissions Trading Scheme in Germany and the European Union under consideration of experiences in other EU Member States; Weiterentwicklung des Emissionshandels - national und auf EU-Ebene

Energy Technology Data Exchange (ETDEWEB)

Wartmann, S; Klaus, S; Scharte, M; Harnisch, J [Ecofys GmbH, Nuernberg (Germany); Heilmann, S; Bertenrath, R [FiFo Koeln (Germany)

2008-02-15

The study analyses options for further development of the EU Emissions Trading Scheme (EU-ETS) after 2012. The first analysis focuses on the effects of the EU-ETS on companies, power prices, competitiveness and employment. It is followed by an analysis of overlaps or lacking coverage regarding the climate policies EU-ETS, Eco-Tax (Oekosteuer) resp. Energy Tax, the Renewable Energy Sources Act and the Combined Heat and Powert Act. These instruments are analysed with regards to their coherence. As a next step, the national allocation plans of France, The Netherlands, the United Kingdom and Poland are evaluated and recommendations are developed. Best practice recommendations for further developing the EU-ETS after 2012 both at the European and the national level are developed from the comparison of these European national allocation plans. Finally, design features of certificate systems relevant for international linking of such systems are addressed. In the analysis such design features are identified and approaches for problems potentially arising when certificate systems are linked, are developed. (orig.)

Next allocation phase of the EU emissions trading scheme: How tough will the future be?

International Nuclear Information System (INIS)

Georgopoulou, E.; Sarafidis, Y.; Mirasgedis, S.; Lalas, D.P.

2006-01-01

The development of National Allocation Plans (NAPs) for the first phase 2005-2007 of the EU emissions trading scheme (EU-ETS) was accompanied by the stated concern of the industrial enterprises with installations that fall under the scope of the relevant Directive 2003/87, since the impacts of the allocation in their financial and technical modes of operation were judged to be severe. Thus, the intensity of the negotiations for the next allocation phase (i.e. 2008-2012), is expected to be heated. With a view to assisting enterprises, especially in the energy sector or for which energy use and its management is a crucial part of their activity, to incorporate in their business plans the impacts of the Directive in an informed manner, an attempt is made here to explore the constraints and the available options that will guide the coming EU-ETS potential allocations. In the analysis, the credits derived from the use of CDM are specifically taken into account. The results show that the next allocations would tend to be significantly more stringent than the current ones because of the combined effect of no inter-period transfer of allowances, the amount of CDM credits expected to be available compared to the amount of effort that would be required and the yield of emission reductions from existing or planned policies and measures. It becomes then crucial, if not imperative, for the enterprises involved as well as national governments to examine carefully means to address their obligations under the Directive

Linking CO{sub 2} emissions from international shipping to the EU emissions trading scheme

Energy Technology Data Exchange (ETDEWEB)

Kaageson, Per [Nature Associates, Stockholm (Sweden)

2009-09-15

The objective of the report is to analyse the feasibility of a cap-and-trade system for CO{sub 2} emissions from international shipping linked to the European Emission Trading Scheme (ETS). The idea presented in the paper is to tie the permission for a ship to call at a port of a participating country to the vessels participation in a scheme for emissions trading under a common cap. The ship would be liable for emissions from fuel bunkered during, say, six months prior to a call at a participating port. With this design, emissions from the return voyages of ships involved in intercontinental traffic would automatically be covered, and shipowners and operators would gain nothing by calling at ports just outside the European Union. The geographical scope would thus be global, albeit limited to ships that call at ports of the European Union (and other participating states). The fuel consumption, that the surrendered CO{sub 2} allowances would have to match, could be declared by using the existing mandatory bunker delivery notes that all ships above 400 GT need to keep according to Regulation 18 of MARPOL Annex VI. The report discusses various ways for initial allocation of allowances and concludes that the least distorting method would be to sell them on auction and recycle all or most of the revenues to the shipping sector in a way that does not interfere with the objective of the trading scheme. In the case where Maritime Emissions Trading Scheme (METS) is initially limited to the ports of the European Union, at least 6 200 million ton less CO{sub 2} would be emitted over the 23 years between 2012 and 2035 compared to a business-as-usual scenario. However, a great part of this would be reductions in land-based sources paid indirectly by the shipping sector. (orig.)

CO2 trade and market power in the EU electricity sector

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Vesterdal, Morten

2002-01-01

The EU commission is planning to launch an emission trading market for greenhouse gases within near future. This to meet its obligations under the United Nations Framework Convention on Climate Change and the Kyoto Protocol. After a theoretical discussion on market power in such a market, we turn...

Sectoral agreements and competitive distortions - a Swedish perspective; Effects of EU Emissions Trading System for European industry

Energy Technology Data Exchange (ETDEWEB)

Zetterberg, Lars; Holmgren, Kristina

2009-03-15

sector approaches to be discussed under the Ad-hoc Working Group on future commitments for Annex I Parties under the Kyoto Protocol (AWG-KP): i) Sector CDM - a CDM crediting mechanism with a previously established baseline ii) Sectoral no-lose mechanism - Sectoral crediting against a previously established no-lose target iii) Sectoral emission trading based on a sector emissions cap Based on these three sectoral models, we have analysed what parameters are important for reducing competition distortion for Swedish industry. We have assumed that these sector agreements are implemented in a developing country (DC). We conclude that if sector agreements are to reduce distortions on competition, it is important that the sector agreements create a real carbon price in the DC, i.e. that emissions of carbon dioxide are associated with a cost for the emitter. All three sector agreement-models suggested by the EU can potentially create a carbon price. The driver for emission reductions are in all three cases the international demand for offsets. As a potentially large buyer of off-sets, the EU demand for off-sets is likely to increase the carbon price in the DC sector. The choice of EU policy with respect to imports of off-set will therefore have great importance. Other buyers, such as other countries, emission trading systems or the voluntary credit market will of course also be important. Moreover, imports of off-sets may reduce the price on EU ETS allowances, thus further narrowing the carbon price gap between the two markets. If an important objective of a sectoral agreement is to reduce competition distortion it should be implemented in sectors where the corresponding Swedish industry has significant carbon related costs and where there is significant trade intensity between Sweden and regions outside the EU. Our preliminary analysis indicates that Swedish sectors with potentially high maximum value at stake are Refineries; Pulp and Paper; Iron and Steel; Cement and Lime; and

Leaving an emissions trading scheme : Implications for the United Kingdom and the European Union

NARCIS (Netherlands)

Tol, Richard S.J.

2018-01-01

The United Kingdom (UK) may opt to leave the European Union (EU) emissions trading system (ETS) for greenhouse gases. This policy brief examines the implications. The UK is a large importer of emission permits. Thus, meeting its climate policy targets would be much more difficult without the EU ETS,

Emission trading in Slovakia is not bound to Kyoto

International Nuclear Information System (INIS)

Slovak, K.; Zackova, K.

2004-01-01

After Pentagon published its report problems related to changes in climate became an important discussion topic again. The report indicates that future temperature increase could have fatal impacts like flooding of Netherlands. Representatives of Slovak National Climate Program do not completely share this view. They consider it to be the worst scenario - catastrophic scenario. And they are also positive that the emissions of greenhouse gases that are the main reason for these changes of climate will decrease. EU is currently working on Directives that will support one of the possible solutions - emission trading and will make this trade independent from ratification of the Kyoto protocol. The basic principle is simple - a country with production of the greenhouse gases below the legally set level or below the level set out by international agreement on climatic changes will have some spare emission quotas that can be traded i.e. sold to a country that produces more gases then allowed. And based on such an agreement signed between a Slovak and Japanese company, Japan will be allowed to produce more greenhouse gases if it can prove that there is an area in the world where the production is below the limit. But, at the same time, it will have to pay for this over-production. Starting next year over 12-thousand companies will be allowed to participate in this business. At the moment an act on emission trading is being prepared in Slovakia. It should have been completed by end of January but the approval process is being delayed. Similar acts are under preparation also in other countries and not even the EU member states have passed them yet. The National Allocation Plan in Slovakia should distribute the emission quotas to about 200 companies. Many European politicians consider the emission trade an effective economic tool provided it will be used as motivation for decrease of greenhouse gas production. And so all companies participating in this project will handle in

Legal Frameworks for Emissions Trading in the European Union

International Nuclear Information System (INIS)

Karl Upston-Hooper, K.; Anttonen, K.; Mehling, M.

2006-01-01

The Project is based on a comparative and pragmatic review of the legal frameworks for implementing the EU Emission Trading Scheme (ETS) in four EU jurisdictions (Finland, Sweden, United Kingdom and Germany). The project does not seek to examine the rationale of utilizing tradable mechanisms nor assess the costs and benefits of doing so. Its primary focus is to undertake a detailed study of the legal realities involved in implementing the EU ETS, particularly those issues of commercial importance such as taxation and accounting rules. (orig.)

Understanding the side effects of emission trading: implications for waste management.

Science.gov (United States)

Braschel, Nina; Posch, Alfred; Pierer, Magdalena

2014-01-01

The trading of emission allowances is an important market instrument in climate policy. However, the inclusion of certain branches of industry in the trading system not only provides incentives for emission reduction, it also entails unwanted side effects. Thus, the objective of the present study is to identify such side effects-positive and negative-by examining the potential impact of waste management inclusion in the European Union Emissions Trading Scheme (EU ETS). Desk research was supplemented with qualitative and quantitative empirical analysis (based on expert interviews and a questionnaire) in order to analyse the related perceptions and expectations of actors and stakeholders. The impact of waste management inclusion in the EU ETS is analysed in terms of the following three areas: (i) costs and cost pass-through, (ii), competitiveness and market position, and (iii) carbon leakage. Concerning expectations in the area of costs, both the interviewed experts and the practitioners surveyed thought that costs were likely to increase or that they could be passed on to customers. However, experts and practitioners differed with respect to the possibility of carbon leakage. Clearly, increased knowledge of the possible impact arising from inclusion of the waste sector in the EU ETS would enable managers to become more proactive and to manage waste streams and treatment options more economically.

The innovation impact of EU emission trading. Findings of company case studies in the German power sector

Energy Technology Data Exchange (ETDEWEB)

Rogge, Karoline S. [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany); Swiss Federal Inst. of Technology Zurich (ETH Zurich) (Switzerland). Dept. of Management, Technology, and Economics; Schneider, Malte; Hoffmann, Volker H. [Swiss Federal Inst. of Technology Zurich (ETH Zurich) (Switzerland). Dept. of Management, Technology, and Economics

2010-05-01

This paper provides a comprehensive analysis of how the European Emission Trading System (EU ETS) as the core climate policy instrument of the European Union has impacted innovation. Towards this end, we investigate the impact of the EU ETS on research, development, and demonstration (RD and D), adoption, and organizational change. In doing so, we pay particular attention to the rela-tive influences of context factors (policy mix, market factors, public acceptance) as well as firm characteristics (value chain position, technology portfolio, size, vision). Empirically, our analysis is based on multiple case studies with 19 power generators, technology providers, and project developers in the German power sector which we conducted from June 2008 until June 2009. We find that the innovation impact of the EU ETS has remained limited so far because of the scheme's initial lack in stringency and predictability and the relatively greater importance of context factors. Additionally, the impact varies tremendously across technologies, firms, and innovation dimensions, and is most pronounced for RD and D on carbon capture technologies and corporate procedural change. Our analysis suggests that the EU ETS by itself may not provide sufficient incentives for fundamental changes in corporate climate innovation activities at a level adequate for reaching political long-term targets. Based on the study's findings, we derive a set of policy and research recommendations. (orig.)

Stochastic carbon sinks for combating carbon dioxide emissions in the EU

International Nuclear Information System (INIS)

Gren, Ing-Marie; Carlsson, Mattias; Elofsson, Katarina; Munnich, Miriam

2012-01-01

This paper carries out numerical calculations on the potential of carbon sinks in the EU Emissions Trading Scheme (ETS) and national commitments under conditions of stochastic carbon dioxide emissions from fossil fuels and carbon sequestration by forests. Chance constraint programming is used to analyze the role of stochastic carbon sinks for national and EU-wide compliance costs. The analytical results show that the inclusion of the carbon sink option can reduce costs for low enough marginal cost and risk discount, but also that costless carbon sinks as by-products from forestry are not part of a cost-effective solution under a high reliability concern. Cost savings are reduced due to risk discounting under a reliability concern, in particular when assigning Chebyshev's inequality as compared with a normal probability distribution. It is also shown that the supply of forest sinks on the market depends on the differences in marginal abatement cost between the trading and the non-trading sectors, and in risk discounting between achievements of the ETS cap and the national commitment. Relatively low marginal abatement cost in the non-trading sector and high risk discounting of national commitment achievements increase the supply of sinks in the market and, hence, reduces the equilibrium price. The empirical application illustrates the importance of risk discounting for the magnitude of cost savings obtained from introducing forest carbon sinks in the EU ETS and national commitments.

Support for international trade law: The US and the EU compared.

Science.gov (United States)

Eckhardt, Jappe; Elsig, Manfred

2015-10-01

In this article we compare US and EU support for bilateral and multilateral international trade law. We assess the support for international law of both trading blocs by focusing on the following four dimensions: leadership, consent, compliance and internalization. Although we find strong support for international trade law from both the US and the EU in general, we also witness some variation, most notably in relation to the design of preferential trade agreements (PTAs) and compliance with World Trade Organization (WTO) law. Turning to explaining these (moderate) differences, we argue that outcomes in US trade policy can best be explained by a domestic political factor, namely the direct influence of interest groups. Although the involvement of societal interests also goes a long way in explaining EU behavior, it does not tell the entire story. We posit that, in EU trade policy, institutions are a particular conditioning factor that needs to be stressed. Moreover, we suggest that foreign policy considerations in managing trade relations have characterized EU's support for international trade law.

Emissions trading for business and industry. A new instrument to achieve environmental goals

International Nuclear Information System (INIS)

2001-05-01

Key components of the Kyoto Protocol are the flexible instruments or mechanisms: namely trading emissions, Joint Implementation and the Clean Development Mechanism. These mechanisms make it possible to trade in CO2 emissions or emission permits, thereby enabling the Kyoto Protocol targets that have been imposed on all states, to be attained in the most cost-effective way. Although the Kyoto targets are binding only on states, it is likely that governments will pass responsibility for meeting them on to specific target groups and impose absolute or relative (energy efficiency or CO2 per unit) targets on them. Flexible instruments, especially Joint Implementation (JI) and the Clean Development Mechanism (CDM), can also be used by companies to achieve their emission targets. Until now, the VNO-NCW Confederation of Netherlands Industry has generally been positive about the use of flexible instruments. However, various developments have persuaded the VNO-NCW that it is a good idea to examine more specific questions with regard to flexible instruments. First, the CO2 trade committee (the Vogtlaender Committee) has been asked to issue recommendations concerning the possibilities inherent in a national system for emissions trading. A basic variant will be explored, in which protected sectors (households, the service industry, small industrial enterprises) will be assigned absolute ceilings and internationally operating companies will be assigned with relative targets. Second, in March 2000 the European Commission published a Green Paper on trade in greenhouse gas emissions within the European Union in order to launch an European Union (EU)-wide debate on the introduction of an EU system for trade in emissions in 2005. In common with the Netherlands, various EU member states are studying the possibilities for phasing in a system of trade in CO2 emissions; only in Denmark has such a system actually been introduced. In industry, too, many initiatives have been taken in

GAUGING THE VERTICAL SPECIALIZATION IN EU TRADE

Directory of Open Access Journals (Sweden)

IULIA MONICA OEHLER-SINCAI

2014-11-01

Full Text Available The purpose of this paper is threefold. First, we review the mechanisms and determinants of vertical specialization (VS, as this has gradually become the dominant characteristic of international trade. Second, we underline that there is a rich literature regarding VS in EU trade, at aggregate and individual levels and research is advancing together with the instruments used to measure trade in value added. Third, our investigation brings to the forefront a classification of EU countries according to their GVC participation index, taking into consideration both upstream and downstream links. As a conclusion, the VS analyses help us better understand the interconnectedness among countries and industries by means of foreign direct investment, trade, labour migration and technology transfer.

Trader types and volatility of emission allowance prices. Evidence from EU ETS Phase I

International Nuclear Information System (INIS)

Balietti, Anca Claudia

2016-01-01

This paper studies the relation between the trading activity of market participants and the volatility of the European Emission Allowance price during Phase I of the European Union Emission Trading System (EU ETS). We focus on the contrasting roles of different trader types. We find evidence of a positive and significant trading activity–volatility relation, which appears to be stronger when accounting for trader type. The positive relation can be mainly attributed to energy providers. In contrast, industrial companies seem to have traded more frequently when volatility levels were lower. Finally, the non-liable players, represented by financial intermediaries, appear to have acted as a flexible counterparty, trading more with the energy sector when volatility was higher, and more with the industrial firms when volatility was lower. We discuss possible explanations for these contrasted positions. Understanding the trading activity–volatility link is relevant for evaluating the efficiency of the EU ETS. Although the relation is generally positive, many players remained often inactive and traded mostly when volatility levels were lower. Policies targeting the engagement of less active players could lead to a smoother incorporation of information into prices and to an increase in market efficiency. - Highlights: • We study the permit price volatility–trading activity link in the EU ETS Phase I. • We focus on the contrasting roles of different market players. • We show that the relation was overall positive, mainly due to energy providers. • Many other players remained inactive and traded more when volatility was lower. • Policies for the engagement of less active traders could increase market efficiency.

Inspection and market-based regulation through emissions trading. The striking reliance on self-monitoring, self-reporting and verification

International Nuclear Information System (INIS)

Peeters, M.

2006-01-01

This contribution discusses inspection with regard to emissions trading. It focuses on the EU greenhouse gas emissions trading scheme. The core rule of emissions trading is that industries need to cover their emissions with tradable emission rights. There are several options for the government to distribute those rights, basically through a free allocation or an auction. The need to cover emissions with a tradable right gives a financial incentive to firms to choose for the reduction of emissions, of course related to the market price of the tradable right. This price-incentive at the same time urges governments to put in place a sound enforcement approach. One of the characteristics of current emissions trading schemes is that they heavily rely on self-monitoring duties. Nevertheless, the ultimate responsibility to inspect rests on the government. However, with the introduction of emissions trading a remarkable shift takes place: instead of the more traditional control of the actual behaviour of industries, inspection by the government ranges under the greenhouse gas emissions-trading instrument much more towards the control of self-monitoring activities. The use of verifiers within the EU greenhouse gas emissions trading scheme is in this respect a unique new provision, but at the same time raises many practical and fundamental questions.

Energy Efficiency and Emissions Trading. A PEEREA perspective after the entry into force of the Kyoto Protocol and of the EU ETS

International Nuclear Information System (INIS)

2006-01-01

The year 2005 was of particular importance for the climate change discussions. The Kyoto Protocol entered into force in February, following the Russian ratification. At the same time, the largest emission-trading scheme for CO2, the EU ETS came into operation. By the end of the year the first Meeting of the Parties to the UNFCCC took place in Montreal. The PEEREA Group discussed on several occasions the contribution of the Kyoto flexible mechanisms to boosting energy efficiency improvements. The role of energy efficiency projects in achieving climate change objectives was equally underlined. In 2004 a report was elaborated and subsequently printed on Carbon Trading and Energy Efficiency, with the understanding that the PEEREA Group will revisit the subject in order to reflect on new developments in this area. This paper, prepared by the Secretariat with the consultancy support of EcoSecurities, served the discussion and debate in the PEEREA Group on the latest developments and opportunities for energy efficiency in the climate change process. The paper provides only a brief introduction of the main concepts, as they were presented and discussed in the 2004 report. The focus is now on the operation of the EU ETS and on the implications for both EU and non EU PEEREA countries of the Linking Directive on the use of JI/CDM mechanisms in relation to improving energy efficiency

A Study of the Determinants of Emissions Unit Allowance Price in the European Union Emissions Trading Scheme

Directory of Open Access Journals (Sweden)

Alina Maydybura

2011-12-01

Full Text Available In 2005 the European Union (EU began the first phase of the largest and most ambitious emissions trading system (EU ETS ever attempted, which then applied to all members of the EU. In its second phase whichbegan in 2008 the EU ETS now applies to all 27 members of the EU together with Norway, Iceland and Lichtenstein, the members of the European Economic Area (EEA which are not members of the Union. Inthe first phase of the EU ETS permits to emit carbon into the atmosphere known as European Union Allowances (EUA were traded in a market where the price rose to €30 and eventually fell to well below 10 Euro cents as the imperfections of the market became obvious. In the second phase which began in 2008 the price has fluctuated between €30 and €8. EUA are traded in a manner which is similar to the trading of financial instruments and a range of derivatives has developed with the total value of the market now above €120b, a growing market dominated by a few large players.This paper reports some results of an empirical investigation into the factors which appear to drive the carbon price and the key determinants of the price of an EUA. Over the last decade a number of environmental products have been developed alongside the EUA, including Certified Emissions Reductions (CERs, Renewable Energy Certificates and White Certificates (energy efficiency credits and markets have developed for a range of these environmental products. A better understanding of the determinants of these markets willhelp regulators manage these new markets and this paper aims to enhance our knowledge of the market.

Emissions trading and competitive positions. The European Proposal for a Directive establishing a Framework for Greenhouse Gas Emissions Trading and Methods for the initial Allocation of Pollution Rights

International Nuclear Information System (INIS)

Grimeaud, D.; Peeters, M.

2002-10-01

The study on the intention to introduce emissions trading on a European Union level was conducted on the basis of the following three questions: Which methods can be used (by the Member States) to distribute the tradable emissions rights en which legal preconditions should be observed considering the EU-Treaty and the relevant directive proposal? Whenever necessary and possible international agreements on climate change and international trade law will be mentioned. Which safeguards are available for fair competition and which system of emissions trading is advisable in this perspective? How should the PSR (performance standard rate) system, which is preferred by industry, be valued? The structure of this study is as follows: in chapter 2 insight is given into the various methods that can be used to start an emissions trading system, i.e. the way tradable pollution rights are distributed (initial allocation). Chapter 3 will further examine the system of the initial allocation of pollution rights as it has been chosen in the proposal for the European directive. The aim is to give an exact qualification of the method of emissions trading, especially the method of initial allocation, that is used in the directive proposal. Chapter 4 examines whether safeguards are available to prevent competition distortions between firms that fall under the scope of the emissions trading scheme. Special attention will be given to conditions that result from the EU-Treaty in this context, such as the prohibition of state aid. In this chapter the international trade law will be dealt with as well. Chapter 5 will present an executive summary and the specific question whether the PSR-system is legally acceptable or maybe even recommendable, will be answered

REFLECTIONS ON ROMANIA'S TRADE WITH EU DURING THE PERIOD 2007-2015

Directory of Open Access Journals (Sweden)

PAUL BOGDAN ZAMFIR

2017-02-01

Full Text Available In this paper, the author intends to highlight the overall evolution of Romania's bilateral trade relations with EU in the period 2007-2015. On this background it is important to mention that the European Union (EU has been the main trade partner of Romania both the export and import throughout this period of post-accession. So, during the analyzed period, as can be observed from statistical data provided by INSSE it is obvious a general tendency of enhancing Romania's trade with EU. Furthermore, since 2007 EU has held a share of over 70% in total imports and exports of Romania. Also, relative to the evolution of Romania's trade balance in relation with EU, from statistical data presented in the paper, can be noticed that in the reference period it has known a general negative trend. There are also presented some positive progress of our country in issue of adjusting the trade balance deficit with EU. In these circumstances, can be proposed a range of macroeconomic measures formulated in direction of reducing the trade deficit, registered by our country in relation with EU. Another element of maximum visibility in this analyzed issues is represented by geographical orientation of Romanian exports and imports with EU countries. Starting from statistical data provided by INSSE through the prestigious official publication Romanian International Trade Yearbook, results clearly that in the whole of this reference period, Germany had the most significant share of over 20%, both export and import. Also during this period of post-accession, the attention of policy makers should focus on measures that will can lead to increase of Romania 's trade not only with Germany, Italy, France, Hungary etc. but also with other community partners whose share in Romania's total trade with EU was a insignificant along analysed period. Thus, in the current context and in perspective for Romania is imperative necessary the proliferation, intensification and

Methodology for the free allocation of emission allowances in the EU ETS post 2012. Sector report for the chemical industry

Energy Technology Data Exchange (ETDEWEB)

NONE

2009-11-15

In 2013, the third trading period of the EU emission trading scheme (EU ETS) will start. With a few exceptions, no free allocation of emission allowances is foreseen in this third trading period for the emissions related to the production of electricity. These emission allowances will be auctioned. For other emissions, transitional free allocation of emission allowances is envisioned. This free allocation will be based on Community wide allocation rules that will, to the extent feasible, be based on ex-ante benchmarks. In 2013, the free allocation is 80% of the quantity determined via these rules, going down to 30% in 2020. An exception is made for activities that are deemed to be exposed to a significant risk of carbon leakage. These activities will receive an allocation of 100% of the quantity determined via the rules. The benchmarks should in principle be calculated for products, i.e. a specific performance per unit productive output, to ensure that they maximize greenhouse gas reductions throughout each production process of the sectors concerned. In this study for the European Commission, a blueprint for a methodology based on benchmarking is developed to determine the allocation rules in the EU ETS from 2013 onwards. In case where benchmarking is not regarded feasible, alternative approaches are suggested. The methodology allows determining the allocation for each EU ETS installation eligible for free allocation of emission allowances. The focus of this study is on preparing a first blueprint of an allocation methodology for free allocation of emission allowances under the EU Emission Trading Scheme for the period 2013-2020 for installations in the refinery industry. The report should be read in conjunction with the report on the project approach and general issues.

Methodology for the free allocation of emission allowances in the EU ETS post 2012. Sector report for the refinery industry

Energy Technology Data Exchange (ETDEWEB)

NONE

2009-11-15

In 2013, the third trading period of the EU emission trading scheme (EU ETS) will start. With a few exceptions, no free allocation of emission allowances is foreseen in this third trading period for the emissions related to the production of electricity. These emission allowances will be auctioned. For other emissions, transitional free allocation of emission allowances is envisioned. This free allocation will be based on Community wide allocation rules that will, to the extent feasible, be based on ex-ante benchmarks. In 2013, the free allocation is 80% of the quantity determined via these rules, going down to 30% in 2020. An exception is made for activities that are deemed to be exposed to a significant risk of carbon leakage. These activities will receive an allocation of 100% of the quantity determined via the rules. The benchmarks should in principle be calculated for products, i.e. a specific performance per unit productive output, to ensure that they maximize greenhouse gas reductions throughout each production process of the sectors concerned. In this study for the European Commission, a blueprint for a methodology based on benchmarking is developed to determine the allocation rules in the EU ETS from 2013 onwards. In case where benchmarking is not regarded feasible, alternative approaches are suggested. The methodology allows determining the allocation for each EU ETS installation eligible for free allocation of emission allowances. The focus of this study is on preparing a first blueprint of an allocation methodology for free allocation of emission allowances under the EU Emission Trading Scheme for the period 2013-2020 for installations in the refinery industry. The report should be read in conjunction with the report on the project approach and general issues.

EU emission trading scheme and the effect on the price of electricity

International Nuclear Information System (INIS)

2004-01-01

The Electricity Market Working Group and the Climate Change Policy Working Group of the Nordic Council of Ministers, has commissioned ECON Analysis to prepare this report. The report analyses the demand and supply of GHG emission allowances and the price of emission allowances for the period 2005-2007 and 2008-2012 and the effect on the electricity price in the Nordic electricity market. The demand for emissions allowances has then been estimated for different scenarios, with different assumption on burden sharing between sectors and international participation and the supply of emission allowances is determined by the marginal abatement costs. Based on available information on abatement costs the supply of allowances is then estimated. The market balance between the demand and supply for allowances then determines the price of emission allowances. The effect on the electricity price is simulated with ECON's model for the Nordic power market to quantitatively estimate the effect from emissions trading on the electricity price, production, consumption, trade, etc. (BA)

Trade tensions between EU and Russia: Possible effects on trade in agricultural commodities for Visegrad countries

NARCIS (Netherlands)

Erokhin, V.; Heijman, W.J.M.; Ivolga, A.

2014-01-01

The paper includes overview of the current state of the EU-CIS and the EU-Russia trade flows with particular attention to trade in agricultural commodities, as well as contemporary tendencies in agricultural production and foreign trade in agricultural commodities and food in Russia. The paper

EU Trade Governance and Policy: A Critical Perspective

Directory of Open Access Journals (Sweden)

Lucy Ford

2013-10-01

Full Text Available This article offers a critical analysis of EU trade policy. It does so by highlighting the political and economic enclosures within which EU trade policy is embedded and that continue to hamper more holistic and interdisciplinary analyses that are argued to be necessary in order to comprehend the obstacles to and avenues towards a more sustainable and socially just world. The article critically analyses economic and political hegemony by drawing on two strands of critical international thought, namely neo-Gramscian analysis and global political ecology, employing a critical realist approach. The article identifies the perceived twin short-comings of conventional analyses: firstly, the neglect of understandings of power relations and social justice, and secondly the lack of attention to criteria of sustainability. Within critical debates about European governance, including the governance of trade and trade policy, neo-Gramscian perspectives highlight the power relations within EU governance, exposing the mechanisms of hegemony as well as identifying potential counter-hegemonic forces. While this offers important insights, the article argues that a critical perspective cannot be complete without attention to sustainability. Political ecology makes a vital contribution to critical perspectives by highlighting the natural limits within which by necessity all human activity takes place. Using illustrations from trade policy debates, the article argues that current EU trade policy and governance is not best placed to meet the challenges of sustainability and social justice and it points to the need for more holistic systems thinking to challenge orthodoxy.

Trade in Value Added (TiVA in EU New Member States (EU NMS

Directory of Open Access Journals (Sweden)

Ines Kersan-Škabić

2017-01-01

Full Text Available Contemporary trade analysis indicates the necessity of calculating trade in value added (TiVA which is created through global value chains (GVCs. This paper aims to determine the characteristics and importance of GVC trade in the EU new member states (EU NMS with special emphasis placed on the industry level. The results demonstrate different levels of GVC participation of the EU NMS, where Hungary is the most integrated country and Croatia the least integrated. Regional GVCs exist because a huge part of value added (VA comes from EU member states, as in gross export as well as in final demand (Europe as a hub. The most important source countries are Germany and Italy and there is also evidence of geographical and historical relations between the countries. The domination of backward participation has been found in the analysis made on the industrial level, i.e. the EU NMS are highly dependent on the import of intermediates for the production and export of final products. Strong interconnections between imports of intermediate products and exports of final products have been found in the manufacture of computers, electronics and optical products; manufacture of wood, paper, printing and reproduction. This research has contributed to the scarce literature concerning GVC (TiVA in EU NMS and has opened up new possibilities for further research and analysis.

The innovation impact of the EU Emission Trading System. Findings of company case studies in the German power sector

International Nuclear Information System (INIS)

Rogge, Karoline S.; Schneider, Malte; Hoffmann, Volker H.

2011-01-01

This paper provides a detailed analysis of how the European Emission Trading System (EU ETS) as the core climate policy instrument of the European Union has impacted innovation. Towards this end, we investigate the impact of the EU ETS on research, development and demonstration (RD and D), adoption, and organizational change. In doing so, we pay particular attention to the relative influences of context factors (policy mix, market factors and public acceptance) and firm characteristics (value chain position, technology portfolio, size and vision). Empirically, our qualitative analysis is based on multiple case studies with 19 power generators, technology providers and project developers in the German power sector which were conducted in 2008/09. We find that the innovation impact of the EU ETS has remained limited so far because of the scheme's initial lack of stringency and predictability and the relatively greater importance of context factors. Additionally, the impact varies significantly across technologies, firms, and innovation dimensions and is most pronounced for RD and D on carbon capture technologies and organizational changes. Our analysis suggests that the EU ETS on its own may not provide sufficient incentives for fundamental changes in corporate innovation activities at a level which ensures political long-term targets can be achieved. (author)

A Ten-Year Rule to guide the allocation of EU emission allowances

International Nuclear Information System (INIS)

Ahman, Markus; Burtraw, Dallas; Kruger, Joseph; Zetterberg, Lars

2007-01-01

Member States in the European Union (EU) are responsible for National Allocation Plans governing the initial distribution of emission allowances in the CO 2 Emission Trading System, including rules governing allocations to installations that close and to new entrants. The European Commission has provided guidelines to discourage the use of allocation methodologies that provide incentives affecting firms' compliance behavior, for example by rewarding one type of compliance investment over another. We find that the treatment of closures and new entrants by Member States is inconsistent with the general guidelines provided by the EU. We propose stronger EU guidance regarding closures and new entrants, a more precise compensation criterion on which to justify free allocations, and a Ten-Year Rule as a component of future EU policy that can guide a transition from current practice to an approach that places greater weight on efficiency

Economic impacts of EU climate policy until 2020; EU:n ilmastopolitiikan talousvaikutukset vuoteen 2020

Energy Technology Data Exchange (ETDEWEB)

Rantala, O. E-mail: olavi.rantala@etla.fi

2012-07-01

The study evaluates the impacts of EU climate policy on the emission allowance price, electricity prices, the competitiveness of industry and macroeconomic developments in the third EU emission trading period 2013-2020. The economic impacts of climate policy on Finland are compared to the impacts on the entire EU area. It turns out that due to its cold climate and heating energy demand, higher export intensity of the economy and higher energy intensity of the industry Finland pays a higher price for EU climate policy in terms of output and employment losses than the EU on average. The study examines the macroeconomic effects of climate policy also in the more distant future, assuming that climate policy is tightened further in the 2020s. Climate policy implemented by emission trading means that the long-term economic growth in the EU area depends essentially on emission-free electricity production, and no longer on other growth factors, such as the labour supply and productivity growth. (orig.)

European Union Emissions Trading Scheme (EU-ETS) Futures Liquidity Effects: Evidence from the European Energy Exchange (EEX)

OpenAIRE

Ibikunle, Gbenga; Gregoriou, Andros

2011-01-01

We examine liquidity effects after the onset of trading in phase II of the EU-ETS for European Union Allowance (EUA) futures contracts. We obtain evidence of long-term improvement in liquidity of the EEX EUA December 2008 futures contract after the commencement of trading in phase II. Our results suggest the application of a new regime of trading rules in Phase II led to the improvements in liquidity.

Emissions Trading Schemes under IFRS - Towards a “true and fair view”

OpenAIRE

Haupt, Madlen; Ismer, Roland

2011-01-01

This research paper seeks to contribute to the latest discussions on the financial reporting for emissions trading schemes. It starts out by giving an overview of the International Financial Reporting Standards (IFRS) accounting policies, which are currently applied by the majority of participants in the EU Emissions Trading Scheme. It then argues that in order to fulfil the aims of financial reporting under IFRS, namely to provide a true and fair view, accounting must depict CO2 as a cost of...

EU Emission Allowances and the stock market Evidence from the electricity industry

International Nuclear Information System (INIS)

Oberndorfer, Ulrich

2009-01-01

This paper constitutes - to our best knowledge - the first econometric analysis on stock market effects of the EU Emission Trading Scheme (EU ETS). Our results suggest that EU Emission Allowance (EUA) price developments matter to the stock performance of electricity firms: EUA price changes and stock returns of the most important European electricity corporations are shown to be positively related. This effect does not work asymmetrically, so that stock markets do not seem to react differently to EUA appreciations in comparison to depreciations. The carbon market effect is shown to be both time- and country-specific: It is particularly strong for the period of EUA market shock in early 2006, and differs with respect to the countries where the electricity corporations analysed are headquartered. Stock market reactions to EUA volatility could not be shown. (author)

Emissions trading and investment decisions in the power sector-a case study in Finland

International Nuclear Information System (INIS)

Laurikka, Harri; Koljonen, Tiina

2006-01-01

Organizations, which consider investment in or divestment of power production licences/capacity within the European Community, are exposed to the impacts of the European Union Emission allowance Trading Scheme (EU ETS). In this paper, the consequences of the EU ETS on investment decisions are explored in a country-specific setting in Finland. First, we review the general mechanisms through which the EU ETS influences size, timing and cashflows of an investment. Next, we discuss the projected changes in Finnish power producers' investment environment and examine the financial impacts due to the EU ETS on a case investment decision, a hypothetical condensing power plant (250 MW e ). The standard discounted cash flow (DCF) analysis is extended to take into account the value of two real options: the option to wait and the option to alter operating scale. In a quantitative investment appraisal, the impact of emissions trading not only depends on the expected level of allowance prices, but also on their volatility and correlation with electricity and fuel prices. The case study shows that the uncertainty regarding the allocation of emission allowances is critical in a quantitative investment appraisal of fossil fuel-fired power plants

Emissions Trading

NARCIS (Netherlands)

Woerdman, Edwin; Backhaus, Juergen

2014-01-01

Emissions trading is a market-based instrument to achieve environmental targets in a cost-effective way by allowing legal entities to buy and sell emission rights. The current international dissemination and intended linking of emissions trading schemes underlines the growing relevance of this

International emissions trading

DEFF Research Database (Denmark)

Boom, Jan Tjeerd

This thesis discusses the design and political acceptability of international emissions trading. It is shown that there are several designs options for emissions trading at the national level that have a different impact on output and thereby related factors such as employment and consumer prices....... The differences in impact of the design make that governments may prefer different designs of emissions trading in different situations. The thesis furthermore establishes that international emissions trading may lead to higher overall emissions, which may make it a less attractive instrument....

Community system updating and extension concerning greenhouse gas emissions duties trading

International Nuclear Information System (INIS)

Arrieta-Langarika, I.

2010-01-01

Approving 29/2009/CE Directive, that amends Directive 2003/87/EC, relating to a trading system for allowances of greenhouse gas emissions in the Community, the European Union wants to improve this system, and, in that way, providing an appropriate tool for achieving the emissions reduction targets, set for 2020: in particular, reducing the emissions of carbon dioxide (CO 2 ) in a 20% compared to 1990 levels. Recognizing the virtues of this system as an innovative tool for reducing emissions, it should be harmonized through the use of common standards that ensure equal conditions of the facilities affected and their update, among others, increasing their scope and establishing a system of re-allocation to reduce emissions. At the same time, the regulation adopted by the EU should not address possible competition difficulties, that may arise for the industries affected by this emission trading system, more specifically, the problem of carbon leakage: the phenomenon refers to the risk that European industries must move outside the EU for not being able to cope with competition from other countries with less stringent limitations on this matter. In any case, the regime established by Directive 29/2009/CE is subject to possible changes in function of international countries might conclude. (Author) 8 refs.

Energy and emissions trading. Proceedings; Energie und Klimawandel. Tagungsband

Energy Technology Data Exchange (ETDEWEB)

Ehlers, Dirk; Wolffgang, Hans-Michael; Schroeder, Ulrich Jan (eds.)

2010-07-01

Within the 14th Muensteraner Foreign Trade legislation conference at 15th and 16th October, 2009 in Muenster (Federal Republic of Germany), the following lectures were held: (1) National and European energy policy (Dieter Kunhenn); (2) Trade, transport and distribution of energy - actual and future legal aspects (Markus J. Kachel); (3) Liberalization and regulation of energy services at multilateral and bilateral level (Christian Pitschas); (4) Legal protection for foreign direct investigations in the energy sector (Richard Kreindler); (5) Energy cartels in the light of the WTO law (Joerg Philipp Terhechte); (6) Subsidisation of renewable energy in the area of attention between WTO and EU subsidy law (Martin Lukas); (7) Legal aspects of pipeline through the Baltic Sea (Barbara Kaech); (8) Sustainability standards and their compatibility with the WTO law (Lorenz Franken); (9) Economic instruments between Kyoto and Kopenhagen - Quo vadis climate protection? (Benjamin Goeerlach); (10) Emissions rights trading with developing countries (Peter Ebsen); (11) Legal aspects of the European emissions rights trading (Stefan Altenschmidt).

Importance of intrastat in EU intra-Community trade

Directory of Open Access Journals (Sweden)

Radmila Presová

2008-01-01

Full Text Available The paper deals with the importance of Intrastat and Eurostat for mutual trade with goods between EU countries and third countries. It informs about the importance of statistical data for all legal forms of trade companies, multinational companies, public administration institutions and service businesses. It points out that accepting the Czech Republic as a member of EU changed the use of terminology in foreign trade. For goods transactions between EU member states the terms sending and receiving are used, whereas the traditional terminology export – import is used for foreign trade with the third countries.Paper describes legal regulations including the instructions for statistical data records, specifically the Directive of the European parliament and Council No. 638/2004, appended by the Commission directive No. 1980/2004 and Public notice of the Czech statistical office from 18th May, 2005. Based on the retrospective view it shows the development of legal regulation and the importance of quo­ted directive for determining and recording statistical data. It notifies that statistical data are necessary for recognition of the course of integration of the internal market, formation of agricultural policy and adopting anti-dumping measures. Paper acquaints with organisation of statistics within the Euro­pean Union. It also notifies that statistical system includes also the countries of Iceland, Norway, and Liechtenstein.Results of foreign trade in 2007 show the involvement of the Czech Republic in mutual trade with the EU countries, to which 85.22 % of the total value of exported goods was sent, which represents the amount of CZK 194 056 per inhabitant of the Czech Republic. In the same year, goods of the total share of 69.90 % was received from the EU countries, which represents the amount of CZK 162 021 per inhabitant. Our most important trade partner is Germany, with which we have reached the turnover of CZK 1 429 986. According to

The Long Road from Ljubljana to Kyoto: Implementing Emission Trading Mechanisms and CO2 Tax

Directory of Open Access Journals (Sweden)

Tanja Markovič-Hribernik

2006-03-01

Full Text Available According to the Kyoto Protocol, Slovenia is required to reduce GHG emissions to an average of 8% below base year 1986 emissions in the period 2008-2012. Slovenia established different measures for reducing GHG emissions long before its ratification. It was first transition country who implemented CO2 tax in the 1997. Several changes in CO2 tax have not brought the desired results. CO2 emissions have actually increased. At the beginning of 2005, Slovenia joined other EU member states by implementing the emissions trading instrument, defined by new EU Directive. At the same time, Slovenia has adopted a new CO2 tax system, which is compatible with the new circumstances. The main purpose of this paper is to present the characteristics of Slovenian approach to national allocation plan for emissions trading and analyze the problems of the CO2 tax in Slovenia. Paper also describes the compliance cost of achieving the Kyoto target and expected movements on the Slovenian allowances market.

The IFIEC method for the allocation of CO2 allowances in the EU Emissions Trading Scheme. A review applied to the electricity sector

International Nuclear Information System (INIS)

Bart Wesselink; Sebastian Klaus Alyssa; Gilbert Kornelis Blok

2008-03-01

Recently the European Commission has published a proposal to improve the function of the EU-ETS by amending the Directive which establishes the EU-ETS. The main changes proposed are the establishment of one EU-wide cap and the use of auctioning for a much greater share of allowances than is currently the case, replacing most of the allocation free of charge. Auctioning of allowances will eliminate the so-called windfall profits that occur under the current allocation free of charge that is based on historic production and emission levels; a grandfathering approach. IFIEC EUROPE, the international federation of industrial energy consumers, asked Ecofys to review the method that IFIEC has developed in recent years to allocate CO2 allowances in the EU emissions trading scheme (EU-ETS). According to IFIEC, their allocation method guarantees the same environmental outcome as other methods, without causing windfall profits and with lower risks of competitiveness loss for so-called exposed industrial users of electricity. It was decided to focus this study on the European electricity sector. This was done for several reasons: CO2 emissions from electricity generation cover a large part of the overall emission under EU-ETS, the electricity sector has a single well defined output (electricity) that can be used to illustrate the potential impact of the IFIEC benchmark based allocation approach, and electricity is a substantial cost factor for IFIEC members. This evaluation covers many aspects of IFIEC's method and compares these with two other allocation methods: auctioning and historic grandfathering. Within the IFIEC method two example approaches are evaluated: a single benchmark for electricity production and fuel-specific benchmarks for coal and gas fired electricity production. In the evaluation, we cover the following aspects: What is the IFIEC method; how does it differ from other allocation methods in character (chapter 2); What is the impact of different allocation

The trading game : emissions trading schemes offer pollution as a market commodity

Energy Technology Data Exchange (ETDEWEB)

Bradbury, D.

2005-07-01

This paper discussed the market mechanisms for emissions trading. The concept emerged in signatory countries to the Kyoto Protocol in response to their commitment to reduce greenhouse gas (GHG) emissions. Emissions trading systems allow large polluters to buy and sell pollution credits in order to meet emission reduction targets. While member states in the European Union (EU) started trading in February 2005, Canada is still developing its own proposal that will be introduced in 2008 to correspond with the first phase of the Kyoto Protocol. In contrast to the European model that places absolute limits on GHG emissions, the Canadian system is intensity-based. Heavy polluters, known as large final emitters, will have to cut emissions of the 6 GHGs covered under the Kyoto Protocol as a percentage of their total industrial output. Companies that reduce their emissions more than their defined targets can trade the surplus as credits on the open domestic market. It was argued that this allows businesses to meet their own emissions targets while failing to contribute effectively to Canada's overall Kyoto target. In addition, in order to lessen the burden to industry, Canada has imposed a $15 cap on the price of credits, which is in contrast to the European system. It was argued that businesses in Europe will be more motivated to meet their targets because of the higher value on European pollution credits. With less onus on business in Canada to reduce absolute targets, the burden of reducing GHG emissions has shifted to federal taxpayers. The paper addressed some of the factors that led to Canada's decision to use an intensity-based system. One main factor was the refusal of the United States to ratify the Kyoto Protocol and the cost disadvantage this would create for Canadian firms. However, some argue that by paying more attention to energy use, companies can reduce emissions and increase shareholder value by achieving cost savings that are greater than the

National CO2 emissions trading in European perspective; Nationale CO2-emissiehandel in Europees perspectief

Energy Technology Data Exchange (ETDEWEB)

NONE

2003-06-01

This report is the reaction of the Social and economic council (SER) in the Netherlands to the request of the Dutch Ministry of Housing, Spatial Planning en Environment (VROM) to formulate an advice on the final report of the Committee CO2 Trade (a.k.a the Vogtlander Committee). This Committee has drafted a proposal for a CO2 emission trade system in the Netherlands. The SER has also taken into account the proposal of the European Committee on a guideline for CO2 emission trade in the European Union (EU)

Intra-EU agricultural trade, virtual water flows and policy implications.

Science.gov (United States)

Antonelli, M; Tamea, S; Yang, H

2017-06-01

The development of approaches to tackle the European Union (EU) water-related challenges and shift towards sustainable water management and use is one of the main objectives of Horizon 2020, the EU strategy to lead a smart, sustainable and inclusive growth. The EU is an increasingly water challenged area and is a major agricultural trader. As agricultural trade entails an exchange of water embodied in goods as a factor of production, this study investigates the region's water-food-trade nexus by analysing intra-regional virtual water trade (VWT) in agricultural products. The analysed period (1993-2011) comprises the enactment of the Water Framework Directive (WFD) in the year 2000. Aspects of the VWT that are relevant for the WFD are explored. The EU is a net importer of virtual water (VW) from the rest of the world, but intra-regional VWT represents 46% of total imports and 75% of total exports. Five countries account for 60% of total VW imports (Germany, France, Italy, The Netherlands, Belgium) and 65% of total VW exports (The Netherlands, France, Germany, Belgium and Spain). Intra-EU VWT more than doubled over the period considered, while trade with extra-EU countries did not show such a marked trend. In the same period, blue VWT increased significantly within the region and net import from the rest of the world slightly decreased. Water scarce countries, such as Spain and Italy, are major exporters of blue water in the region. The traded volumes of VW have been increasing almost monotonically over the years, and with a substantial increase after 2000. The overall trend in changes in VWT does not seem to be in accordance with the WFD goals. This study demonstrated that VWT analyses can help evaluate intertwining effects of water, agriculture and trade policies which are often made separately in respective sectors. Copyright © 2017 Elsevier B.V. All rights reserved.

CHANGES IN FOREIGN TRADE IN AGRI-FOOD PRODUCTS BETWEEN THE EU AND CHINA

Directory of Open Access Journals (Sweden)

Karolina Pawlak

2016-12-01

Full Text Available The aim of the paper was to identify the changes in bilateral trade in agri-food products between the EU and China, as well as to assess – in mutual relations – ex post competitive advantages of major groups of agri-food products in 2008–2015. The research is based on data from the Statistical Office of the European Union (Eurostat. The analysis covered the value, trade balance, shares in total trade and commodity structure of trade in agri-food products between the EU and China. Selected indices of revealed comparative advantage (XRCA, MRCA, RTA, Coverage Ratios (CR, Specialization Indicators (SI, and the indices of Intra-Industry Trade (IIT were calculated for major product groups of the Combined Nomenclature. It was  proved that bilateral trade in agri-food products between the EU and China has increased signifi cantly in 2008–2015, and the EU transformed from an importer to a net exporter. Despite the intensifi cation of mutual trade, the importance of China in the EU export of agri-food products remained relatively small. The structure of bilateral trade in agri-food products between the EU and China is consistent with the distribution of comparative advantages obtained by exporters and it is shaped under assumptions of the theory of similarity of preferences, the theory of product diff erentiation of the Armington type, and the Heckscher-Ohlin-Samuelson theorem of resources abundance. It can be considered that the Chinese agri-food sector is still in the stage of a factor-driven economy, while the agriculture and food industry in the EU countries has reached the stage of an innovation-driven economy.

Impacts of EU carbon emission trade directive on energy-intensive industries. Indicative micro-economic analyses

International Nuclear Information System (INIS)

Lund, Peter

2007-01-01

The cost impacts from the European emission trading system (ETS) on energy-intensive manufacturing industries have been investigated. The effects consist of direct costs associated to the CO 2 reduction requirements stated in the EU Directive, and of indirect costs of comparable magnitude that originate from a higher electricity price triggered by the ETS in the power sector. The total cost impacts remain below 2% of the production value for most industries within the ETS in the Kyoto period. In the post-Kyoto phase assuming a 30% CO 2 reduction, the total cost impact may raise up to 8% of production value in the heaviest industry sectors. In steel and cement industries the cost impacts are 3-4 fold compared to the least affected pulp and paper and oil refining. Electricity-intensive industries outside the ETS will also be affected, for example in aluminum and chlorine production the indirect cost impacts from ETS could come up to 10% of production value already in the Kyoto period. As industry sectors are affected differently by the ETS some correcting mechanisms may be worthwhile to consider in securing the operation of the most electricity-intensive sectors, e.g. balancing taxation schemes that may include as income source a levy on the wind-fall profits of the power sector due to ETS. A future improvement in ETS for industries within the scheme could be scaling of the emission reduction requirement so that the relative total emission reduction costs are at about the same level. (author)

The EU climate policy: Is the will to reduce the emission of greenhouse gases greater than the capability to do it?

International Nuclear Information System (INIS)

Wetterstad, Joergen

2002-01-01

The climate policy of the EU is rapidly developing. The EU is emerging as an ideal in the international cooperation that aims to initiate trade of emission quotas. The EU was playing a major role on the Johannesburg conference of 2002 and has always supported the Kyoto Protocol, which may come into force in 2003. However, the development of emission situation in most of the member countries, the slow follow-up of the goals and the coming expansion into Eastern Europe raises the question if the EU is a climate political instigator on unsafe ground

Judicial aspects of emission trade. Emission trade in the European Union

International Nuclear Information System (INIS)

Van Beuge, M.J.J.

2004-01-01

Emission trade will start in Europe in 2005. In a series of articles an overview will be given of several juridical aspects with respect to the international and national trade of emission. In part 1 attention was paid to the international judicial basis for the present climate policy. In this article an overview is given of developments with regard to emission trade in the European Union [nl

EU-MOLDOVA TRADE RELATIONS: COMPETITIVE ADVANTAGES OF MOLDOVAN INDUSTRIES ON THE SINGLE MARKET

Directory of Open Access Journals (Sweden)

Ioana SANDU

2014-10-01

Full Text Available Engaging on the long road of implementing the Deep and Comprehensive Free Trade Area with the EU in 2010, Moldova is now closer than ever to being included in the most privileged category of the Eastern neighbouring countries - those who have chosen to deepen the European economic integration. The Vilnius Summit in November 2013 has reinforced the ‘more for more’ principle for both Moldova and Georgia by emphasizing, at the same time, the role of reactive measures and financial aid in counterbalancing aggressive trade barriers from non-EU states. Not only has Moldova proved to efficiently capitalize the provisions of the ATP agreement since 2008, but it has also consequently received more support from the EU in boosting exports to the single market. The wine industry was the first to benefit from the free-trade regime, as for the EU decision of eliminating quotas from the beginning of 2014. Nonetheless, the progressive liberalisation of trade flows between Moldova and the EU would finally oppose two asymmetric partners. Consequently, Moldova is facing the challenge of asserting its value on the EU market, by yet not undermining the relevance of other important trading partners nearby.

Emission Trading as a Basis for new Bioenergy Business Concepts in the Baltic Sea Region

International Nuclear Information System (INIS)

Vesterinen, Pirkko; Helynen, Satu

2006-01-01

The new EU Emission Trading system started in the beginning of 2005. This system will bring new challenges, but also new opportunities for the energy market in the Baltic Sea Region (BSR) countries. Typically in some EU countries the decreasing of greenhouse gas emissions tends to be more expensive to achieve than in the others. This brings about new trade schemes that could be implemented in the BSR. One important way of reducing emissions is to replace fossil fuels with biomass-based fuels in large scale power and steam production. As the availability of biomass, price level of biomass, electricity and steam, and national subsidies and taxation are different in different countries, it may be economically viable to create a framework for international trade. The product to be traded may be e.g. wood fuel (either as logs and chips or in refined form like pellets), energy (electricity), green certificates or emission allowances. It is also possible to implement so-called JI (Joint Implementation) projects to reach the emission reduction targets.All the above mentioned options may be realised in different ways. The purpose of the project is to find win-win opportunities, in which both the exporting and importing countries/regions will get profit from the system. These positive impacts may be quite impressive in regional level, as they directly boost several business areas like fuel production and transport, equipment manufacturing and maintenance, plant construction, as well as energy production and use. In addition, the impacts cover also forestry and agriculture, by bringing new value and utilisation options for their by-products.The paper presents the first results of an on-going project which is co-financed by the EU programme BSR INTERREG III B. The two-year project started in the beginning of 2005, and the main results will be available in autumn 2006

EU climate policy up to 2020. An economic impact assessment

Energy Technology Data Exchange (ETDEWEB)

Boehringer, Christoph [Department of Economics, University of Oldenburg (Germany); Centre for European Economic Research (ZEW) Mannheim (Germany); Loeschel, Andreas [Centre for European Economic Research (ZEW) Mannheim (Germany); Moslener, Ulf [KfW Development Bank, Frankfurt (Germany); Rutherford, Thomas F. [Center for Energy Policy and Economy (CEPE), ETH Zuerich (Switzerland)

2009-07-01

In its fight against climate change the EU is committed to reducing its overall greenhouse gas emissions to at least 20% below 1990 levels by 2020. To meet this commitment, the EU builds on segmented market regulation with an EU-wide cap-and-trade system for emissions from energy-intensive installations (ETS sectors) and additional measures by each EU Member State covering emission sources outside the cap-and-trade system (the non-ETS sector). Furthermore, the EU has launched additional policy measures such as renewable energy subsidies in order to promote compliance with the climate policy target. Basic economic reasoning suggests that emission market segmentation and overlapping regulation can create substantial excess costs if we focus only on the climate policy target. In this paper, we evaluate the economic impacts of EU climate policy based on numerical simulations with a computable general equilibrium model of international trade and energy use. Our results highlight the importance of initial market distortions and imperfections as well as alternative baseline projections for the appropriate assessment of EU compliance cost. (author)

EU climate policy up to 2020: An economic impact assessment

Energy Technology Data Exchange (ETDEWEB)

Boehringer, Christoph, E-mail: boehringer@uni-oldenburg.d [Department of Economics, University of Oldenburg (Germany); Centre for European Economic Research (ZEW) Mannheim (Germany); Loeschel, Andreas [Centre for European Economic Research (ZEW) Mannheim (Germany); Moslener, Ulf [KfW Development Bank, Frankfurt (Germany); Rutherford, Thomas F. [Center for Energy Policy and Economy (CEPE), ETH Zuerich (Switzerland)

2009-07-01

In its fight against climate change the EU is committed to reducing its overall greenhouse gas emissions to at least 20% below 1990 levels by 2020. To meet this commitment, the EU builds on segmented market regulation with an EU-wide cap-and-trade system for emissions from energy-intensive installations (ETS sectors) and additional measures by each EU Member State covering emission sources outside the cap-and-trade system (the non-ETS sector). Furthermore, the EU has launched additional policy measures such as renewable energy subsidies in order to promote compliance with the climate policy target. Basic economic reasoning suggests that emission market segmentation and overlapping regulation can create substantial excess costs if we focus only on the climate policy target. In this paper, we evaluate the economic impacts of EU climate policy based on numerical simulations with a computable general equilibrium model of international trade and energy use. Our results highlight the importance of initial market distortions and imperfections as well as alternative baseline projections for the appropriate assessment of EU compliance cost.

EU climate policy up to 2020. An economic impact assessment

International Nuclear Information System (INIS)

Boehringer, Christoph; Loeschel, Andreas; Moslener, Ulf; Rutherford, Thomas F.

2009-01-01

In its fight against climate change the EU is committed to reducing its overall greenhouse gas emissions to at least 20% below 1990 levels by 2020. To meet this commitment, the EU builds on segmented market regulation with an EU-wide cap-and-trade system for emissions from energy-intensive installations (ETS sectors) and additional measures by each EU Member State covering emission sources outside the cap-and-trade system (the non-ETS sector). Furthermore, the EU has launched additional policy measures such as renewable energy subsidies in order to promote compliance with the climate policy target. Basic economic reasoning suggests that emission market segmentation and overlapping regulation can create substantial excess costs if we focus only on the climate policy target. In this paper, we evaluate the economic impacts of EU climate policy based on numerical simulations with a computable general equilibrium model of international trade and energy use. Our results highlight the importance of initial market distortions and imperfections as well as alternative baseline projections for the appropriate assessment of EU compliance cost. (author)

Carbon pricing in the EU: Evaluation of different EU ETS reform options

International Nuclear Information System (INIS)

Brink, Corjan; Vollebergh, Herman R.J.; Werf, Edwin van der

2016-01-01

This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to the EU ETS. We use a dynamic computable general equilibrium model that explicitly allows for allowance banking and for a detailed cost-effectiveness analysis at the EU Member State level. We find that tightening the cap provides an ad hoc solution to the fundamental issue of the robustness of the effective carbon price, while introducing a price component to the ETS brings structural carbon price support in times of negative demand shocks for emission allowances. These price-based policies still benefit from the intertemporal flexibility through the banking provision in the EU ETS by re-allocating emissions over time with stronger emission reductions in early years and emission increases in later years. A higher emission price has a larger negative impact on the new Member States' economies than on other Member States. Furthermore, introducing a carbon tax in addition to the EU ETS decreases the price of allowances, resulting in welfare gains for net buyers of allowances while net sellers are worse off. - Highlights: • We analyse reform options for European Union Emission Trading System (EU ETS) with a CGE model. • Variable carbon tax and auction reserve price support carbon price at least cost. • Price-based reforms decrease early emissions but increase later emissions through banking. • New Member States' economies are affected more than others by higher CO_2 prices. • Lower allowance prices due to a carbon tax are unfavourable to net sellers of allowances.

Putting a price on carbon. Econometric essays on the European Union emissions trading scheme and its impacts

Energy Technology Data Exchange (ETDEWEB)

Aatola, P.

2013-06-01

This dissertation examines the main instrument of the European Union climate policy, the emissions trading scheme (EU ETS) during its first years. Emission trading provides a cost-efficient way to reduce emissions. It creates a price on carbon dioxide and thereby incentives for cleaner production. The four empirical studies in this dissertation provide new information on the price determination in the emissions trading market, market efficiency and market interactions with the electricity markets. This information is useful for many purposes. It benefits the market participants who make choice between trading of emission allowances in the market and abatement of emissions. For the authorities and policy planners the price signal and the efficiency of the markets reveal unique real-time information on marginal abatement costs, impacts of policy decisions and impacts of institutional design of this policy instrument. To be a well-functioning policy instrument the EU ETS should create a credible price signal and efficient markets for trading allowances. The objective of this dissertation is to analyze the EU ETS markets and the price of the European Union emissions allowance, EUA, with econometric time series models. A large data set on market fundamentals is used to analyze the price series. The results of this dissertation reveal that EU ETS is functions well. Carbon has a price that reflects to a large extent the market fundamentals in the study period. The markets are maturing even if not fully informational efficient yet. Interactions with electricity markets are close. The impact of price of carbon on the price of electricity is positive but spatially uneven. In the long run, also climate change affects the electricity bill. The first study of this dissertation investigates the price determination in the market. The empirical results based on years 2005-2011 show that the price of the EUA is largely determined by the market fundamentals. Especially the price of

Should the EU climate policy framework be reformed?

Directory of Open Access Journals (Sweden)

David ELLISON

2011-12-01

Full Text Available Though to-date the European Union (EU has played the most significant leadership role in international negotiations to reduce greenhouse gas (GHG emissions, the emission-reducing performance of individual EU Member states has for many been less than stellar. Several EU15 Member states continue to raise rather than lower emissions. Analysing the most successful policy instruments, this paper argues EU policy efforts could benefit from three important innovations. The following strategies – the adoption of an EU-wide FIT (feed-in tariff, an EU-wide carbon tax and more flexibility in the trading of carbon credits – could significantly improve emission reductions, their relative cost-efficiency and spread burden-sharing more evenly across technologies and Member states. This raises important questions, both about the effectiveness of EU and Kyoto-style commitments, as well as the EU Emission Trading Scheme (ETS. The commitment strategy, and in particular the EU ETS mechanism, have had the smallest impact on emission reductions. The proposed set of strategies could make a far greater contribution to future EU efforts and potentially lock in the impressive progress already made. Such a policy shift, if successful, would also greatly enhance the EU’s already significant credibility and bargaining power in international climate negotiations.

Emission trading: A discussion paper

International Nuclear Information System (INIS)

1992-05-01

Emission trading is a market-based incentive program designed to control air emissions in which a cap is placed on the total quantity of pollutants allowed to be emitted in an airshed. Appropriate shares of this amount are allocated among participating emission sources, and participants can buy or sell their shares. Advantages of emission trading include its potential to achieve air emission targets at a lower cost than the traditional command and control approach, and its ability to accommodate economic growth without compromising environmental quality. A study was conducted to evaluate the potential use of emission trading programs to achieve emission reduction goals set for nitrogen oxides, volatile organic compounds (VOC), and sulfur oxides. Emission trading programs in the USA are reviewed and a set of factors important for the success of emission trading are identified. Key policy and design issues related to an emission trading program are identified, explained, and discussed. Administrative issues are then analyzed, such as legislative authority, monitoring and enforcement requirements, and trading between jurisdictions. A preliminary assessment of emission trading for control of NOx and VOC in the Lower Fraser Valley indicates that emission trading would be feasible, but legislative authority to implement such a program would have to be introduced

BP's emissions trading system

International Nuclear Information System (INIS)

Victor, David G.; House, Joshua C.

2006-01-01

Between 1998 and 2001, BP reduced its emissions of greenhouse gases by more than 10%. BP's success in cutting emissions is often equated with its use of an apparently market-based emissions trading program. However no independent study has ever examined the rules and operation of BP's system and the incentives acting on managers to reduce emissions. We use interviews with key managers and with traders in several critical business units to explore the bound of BP's success with emissions trading. No money actually changed hands when permits were traded, and the main effect of the program was to create awareness of money-saving emission controls rather than strong price incentives. We show that the trading system did not operate like a 'textbook' cap and trade scheme. Rather, the BP system operated much like a 'safety valve' trading system, where managers let the market function until the cost of doing so surpassed what the company was willing to tolerate

Emissions Trading Resources

Science.gov (United States)

Learn about emissions trading programs, also known as cap and trade programs, which are market-based policy tools for protecting human health and the environment by controlling emissions from a group of sources.

Act locally, trade globally. Emissions trading for climate policy

Energy Technology Data Exchange (ETDEWEB)

none

2005-07-01

Climate policy raises a number of challenges for the energy sector, the most significant being the transition from a high to a low-CO2 energy path in a few decades. Emissions trading has become the instrument of choice to help manage the cost of this transition, whether used at international or at domestic level. Act Locally, Trade Globally, offers an overview of existing trading systems, their mechanisms, and looks into the future of the instrument for limiting greenhouse gas emissions. Are current markets likely to be as efficient as the theory predicts? What is, if any, the role of governments in these markets? Can domestic emissions trading systems be broadened to activities other than large stationary energy uses? Can international emissions trading accommodate potentially diverse types of emissions targets and widely different energy realities across countries? Are there hurdles to linking emissions trading systems based on various design features? Can emissions trading carry the entire burden of climate policy, or will other policy instruments remain necessary? In answering these questions, Act Locally, Trade Globally seeks to provide a complete picture of the future role of emissions trading in climate policy and the energy sector.

European Union-Emission Trading Scheme: outlook for the chemical industry

International Nuclear Information System (INIS)

Coussy, P.; Alberola, E.

2013-01-01

From 2013, under the European Union Emissions Trading Scheme (EU-ETS), Europe will cap its emissions of nitrous oxide (N 2 O) and per-fluorocarbons (PFC) from the chemical industry. Besides, 336 chemical industry facilities will be forced to limit their emissions at 45.8 million tons of CO 2 per year from 2013 to 2020. At date August 1, 2012, almost 70% of the carbon credits issued by the clean development mechanism (CDM) were carried out mainly through the destruction of hydro-fluorocarbons (HFC-23) (42%) and N 2 O (22%). The contribution of emission reductions through chemical processes in the Joint Implementation (JI) projects is smaller but still amounted to 32% of all projects. From 1 May 2013 the European Union will refuse CDM and JI credits from emission reductions of HFC-23 and N 2 O. The issues of the introduction of the chemical industry in the EU-ETS in the context of low CO 2 prices and limited validity of CDM and JI chemical projects are high. Therefore, domestic CO 2 emissions reductions from energy consumption of the chemistry sector will take a larger share. (authors)

The Promotion and Integration of Human Rights in EU External Trade Relations

Directory of Open Access Journals (Sweden)

Samantha Velluti

2016-09-01

Full Text Available The European Union (EU has made the upholding of human rights an integral part of its external trade relations and requires that all trade, cooperation, partnership and association agreements with third countries, including unilateral trade instruments, contain with varying modalities and intensity a commitment to the respect for human rights. The paper discusses selected aspects of the EU’s promotion and integration of human rights in its external trade relations and assesses the impact of the changes introduced by the 2009 Treaty of Lisbon (ToL on EU practice.

CO2 price dynamics. The implications of EU emissions trading for electricity prices and operations

International Nuclear Information System (INIS)

Sijm, J.P.M.; Bakker, S.J.A.; Harmsen, H.W.; Lise, W.; Chen, Y.

2006-07-01

The experience with CO 2 trading and allowances prices in the last year is reviewed, with a focus on the factors influencing the price of electricity in EU countries. A statistical analysis investigates the relationship between the large increases in electricity prices experienced in 2005 and their relationship to CO 2 prices. In addition, a market simulation analysis using the COMPETES model is performed to assess the extent to which profit-maximizing generators, some of which possess market power, might pass on the opportunity cost of allowances to consumers. The paper concludes by reviewing possible options for policy makers to address the possible adverse implications of price increases caused by CO/sub 2/ trading.

The EU Renewables Directive-What is the fuss about trading?

International Nuclear Information System (INIS)

Toke, David

2008-01-01

Considerable argument about trading in green electricity certificates (GECs) preceded the publication of the proposed EU Renewables Directive in early 2008. The proposed Directive set a binding target of 20 per cent of EU energy to be derived from renewable energy by 2020 broken down into targets for each member state. Those arguing for trade in green certificates, called certificates of guaranteed origin (GO), included major electricity companies. However, the idea of mandatory trading was opposed by the main renewable energy industry lobby groups. The proposed Directive limited trading in accordance with the demands of the renewables industry pressure groups. Analysis suggests that if member states were forced to trade to achieve a mandatory target of 20 per cent target, then GEC prices would rise to high levels because the demand for tradeable certificates would be much higher than their supply. Trading is unlikely to improve the prospects for meeting the targets. A system of nationally based 'feed-in tariff' systems would not face the problems of uncertain certificate prices faced by compulsory trading in GECs

POTENTIAL TRADE EFFECTS OF TARIFF LIBERALIZATION UNDER THE TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP (TTIP FOR THE EU AGRI-FOOD SECTOR

Directory of Open Access Journals (Sweden)

Agnieszka Poczta-Wajda

2017-06-01

Full Text Available  The aim of this article is to determine the potential trade effects of Transatlantic Trade and Investment Partnership (TTIP for the EU agri-food sector. The ex post analysis covered the characteristics of agri-food trade between the EU and the US in the years 2004–2014 on the basis of statistical data from the database of the World Bank WITS. The ex ante evaluation was carried out using SMART – a partial equilibrium model. The results of the study indicate that although bilateral agri-food trade relations of the EU–US have relatively little importance, but it is significant at the individual industries level. TTIP agreement, which includes the reduction of tariff barriers to agri-food trade between the EU and the US, will contribute to boosting bilateral agri-food trade to a greater extent for the US. The creation of a free trade produces mostly creation effect, whereby it will be asymmetric – concentrated in a few product groups.

Models of Co2 emission trading system for projections in MSG6. Documentation and guidance; Utviklingen i stroemforbruket, prisfoelsomheten og stroemmarkedet

Energy Technology Data Exchange (ETDEWEB)

Faehn, Taran; Stroem, Birger

2012-08-15

Present context of the EU Co2 Emission Trading System (EU ETS) from 2008, involves new measures directed towards a large portion of present emissions sources. Currently there is no basis in statistics figures to offset the consequences of these international obligations in SSB models. In the model projections is nevertheless necessary to model both the current instruments and expected future changes in the rules and forms of association. This paper documents the Ministry of Finance to establish a arrangements for implementing Norway's association with the EU ETS in the model MSG6. It also addresses the EU ETS policy instruments interacting with other objectives and instruments of climate policy, including the Kyoto commitments and various domestic Climate tax systems. The European emissions trading price affect the Norwegian economy through several channels. Firstly, allowances mean that the EU ETS will cover activities that gets an emission rate equal to the permit price, which will influence the players to reduce emissions through various adaptations. Second, the remaining emissions occur subject to quotas, and the proportion who do not receive free allowances will give the state the auction revenue / proceeds. Third, quotas purchased in international markets will affect account surplus. This paper outlines various solutions and concludes by recommending a system that easily can be adapted for studies of any interaction between the EU ETS system and other climate policy objectives. The system can also be easily updated to new data.(eb)

Cross-border electricity market effects due to price caps in an emission trading system : An agent-based approach

NARCIS (Netherlands)

Richstein, J.C.; Chappin, E.J.L.; De Vries, L.J.

2014-01-01

The recent low CO2 prices in the European Union Emission Trading Scheme (EU ETS) have triggered a discussion whether the EU ETS needs to be adjusted. We study the effects of CO2 price floors and a price ceiling on the dynamic investment pathway of two interlinked electricity markets (loosely based

Key Questions for Achieving EU Emission Reductions without Abandoning Other Energy Goals

International Nuclear Information System (INIS)

Stang, G.

2014-01-01

What considerations must be addressed to ensure that efforts to achieve the EU's new 2030 emissions and renewables targets are compatible with the other energy goals of the EU and its member states: energy security, and energy affordability? How should these other energy goals be addressed when pursuing energy efficiency improvements, upgrading electricity systems to handle different renewable energy sources, and developing policies to reduce overall CO2 emissions? Markets have been defined as being central to achieving all of Europe's energy goals - both the creation of an EU internal energy market and the use of the Emissions Trading System (ETS) to allow a market for managing a portion of the continent's greenhouse gas emissions. But once these markets are in place and operational, there will still be great variances among the goals, instruments, and level of market integration available for the different countries and regions of Europe. Choosing the most cost effective mechanisms for pursuing the new goals will require effective use of the flexibility that is available - an improved ETS, tradable national targets for non-ETS emissions, and a rapidly widening array of cost-effective renewable energy options. Sufficient use of this flexibility should facilitate the flow of energy investments toward energy system improvements where there is low-hanging fruit - anywhere in the continent - without requiring that local or continental energy security goals be sacrificed. (author).

Analysis of the EU policy package on climate change and renewables

International Nuclear Information System (INIS)

Capros, Pantelis; Mantzos, Leonidas; Parousos, Leonidas; Tasios, Nikolaos; Klaassen, Ger; Van Ierland, Tom

2011-01-01

In 2009 the EU decided to reduce greenhouse gas emissions at least by 20% in 2020 compared to 1990 and to supply 20% of energy needs by 2020 from renewable energy sources. This paper uses an energy model coupled with a non-CO 2 greenhouse gas model to assess the range of policy options that were debated to meet both targets. Policy options include trading of renewable targets, carbon trading in power plants and industry and the use of the Clean Development Mechanism to improve cost-efficiency. The models also examined fairness by analysing the distribution of emission reduction in the non-emission trading sector, the distribution of CO 2 allowances in the emission trading sector and the reallocation of renewable targets across Member States. The overall costs of meeting both targets range from 0.4% to 0.6% of GDP in 2020 for the EU as a whole. The redistribution mechanisms employed significantly improve fairness compared to a cost-effective solution. - Research highlights: → Meeting the EU's greenhouse gas and renewable targets costs 0.4-0.6% of GDP. → Trading national targets for renewable energy reduces costs. → Carbon trading in power plants and industry and CDM also lowers costs. → The redistribution mechanisms agreed by the EU significantly improve fairness.

Emission Trading under the Kyoto Protocol

Energy Technology Data Exchange (ETDEWEB)

Holtsmark, Bjart; Hagem, Cathrine

1998-12-01

This report discusses the potential gains from emission trading and raises some crucial questions. It shows that the total costs of the Kyoto Protocol could be reduced by about 95% through emission trading. Emission trading is an option also in the domestic arenas. The governments of the Annex B countries may allocate emission quotas to local enterprises as emission permits. Thus new markets for greenhouse gas emission quotas may emerge, domestically and internationally. It is emphasized that emission trading at the national and international levels must be discussed separately. The Nordic governments, for example, will find several good reasons for supporting emission trading at the international level if not necessarily domestically. The Nordic countries have already implemented domestic taxes on CO{sub 2} emissions and this tax policy could be sustained while these governments support and take part in emission trading at the international level.The report also considers a possible side effect of emission trading: free emission trading among Annex B countries could reduce the total abatement compared to a non-tradable policy as a consequence of the fact that some of the countries that are in transition to a market economy may be given emission limitations above their business-as-usual emissions. 40 refs., 7 figs., 4 tabs.

A Test of Endogenous Trade Bloc Formation Theory on EU Data

Directory of Open Access Journals (Sweden)

Richard Edward Baldwin

2007-12-01

Full Text Available This paper empirically confronts one explanation of spreading regionalism with the European experience. The domino theory asserts that forming a preferential trade area, or deepening an existing one, produces trade diversion that generates new political-economy forces in third nations as third-nation exporters seek to redress the new discrimination and profit from newly deepened preferences. The pressure increases with the bloc’s size, yet bloc size depends upon how many nations join, so a single incidence of regionalism may trigger several rounds of membership requests from nations that were previously happy to stay out. We estimate a time-series of EU trade creation and diversion over the last five decades and use these to estimate a model of EU membership demands. The results provide broad support for the model and show that trade diversion has a more powerful impact on membership than trade creation.

Bringing EU-Turkey trade and investment relations up to date?

OpenAIRE

Dawar, Kamala; Sübidey, Togan

2016-01-01

The case is made that the EU-Turkey CU of 1995 covering industrial goods should be modernised and modified to take into account the various and growing criticisms of the original CU. Furthermore, economic integration between the EU and Turkey should be strengthened by signing a complementary deep integration regional trade agreement (RTA) between the EU and Turkey, covering agriculture, SPS measures, services, government procurement, investment, and dispute settlement. For Turkey, the objecti...

Understanding the differing governance of EU emissions trading and renewable: feedback mechanisms and policy entrepreneurs

Energy Technology Data Exchange (ETDEWEB)

Boasson, Elin Lerum; Wettestad, Joergen

2010-04-15

This paper presents a comparative study of two central EU climate policies: the revised Emissions Trading System (ETS), and the revised Renewable Energy Directive (RES). Both were originally developed in the early 2000s and revised policies were adopted in December 2008. While the ETS from 2013 on will have a quite centralized and market-streamlined design, the revised RES stands forward as a more decentralized and technology-focused policy. Differing institutional feed-back mechanisms and related roles of policy entrepreneurs can shed considerable light on these policy differences. Due to member states' cautiousness and contrary to the preferences of the Commission, the initial ETS was designed as a rather decentralized and 'politicized' market system, creating a malfunctioning institutional dynamic. In the revision process, the Commission skillfully highlighted this ineffective dynamic to win support for a much more centralized and market-streamlined approach. In the case of RES, national technology-specific support schemes and the strong links between the renewable industry and member states promoted the converse outcome: decentralization and technology development. Members of the European Parliament utilized these mechanisms through policy networking, while the Commission successfully used developments within the global climate regime to induce some degree of centralization. (Author)

The Politics of Global Value Chains: Import-dependent Firms and EU-Asia Trade Agreements.

Science.gov (United States)

Eckhardt, Jappe; Poletti, Arlo

2016-01-01

In 2006, the European Commission released its Global Europe Communication, in which it announced a shift from a multilateral to a bilateral trade strategy. One of the key pillars of this new strategy was to strengthen the bilateral trade relations with key Asian countries. In contrast to existing analyses that focus on European Union (EU) decision makers' agency, we propose an explanation for this notable shift in the EU's trade policy that stresses the political role of import-dependent firms. In light of the increasing integration of such firms into global value chains, the article argues that a plausible case can be made, both theoretically and empirically, that import-dependent firms had a clear stake in the signing of preferential trade agreements between the EU and Asian countries and that their lobbying efforts significantly affected the EU's decision to start negotiations with South Korea, India and Vietnam.

Emissions trading and innovation in the German electricity industry

Energy Technology Data Exchange (ETDEWEB)

Cames, Martin

2010-07-01

One major objective of the introduction of emissions trading in the European Union was to promote innovation towards mitigating climate change. Focusing on the German electricity industry, the extent to which this objective has been achieved up to now and how the design of the trading scheme could be improved towards achieving the intended objective shall be analyzed in this thesis. These questions are tackled in the thesis from a theoretical and an empirical perspective. The theoretical analysis was largely based on neoclassical environmental economics by using an algebraic model which allowed for comparison of the relevant companies' profits under various configurations of the analyzed design options. The empirical analysis was grounded on two surveys of the electricity industry - one before the start of emissions trading, the other after two and a half years of experience - which enabled identification of the concrete changes in the companies' perceptions and attitudes towards innovation due to the introduction of emissions trading. The analysis reveals some indications that the instrument has basically functioned as originally intended although it has certainly not yet developed its full potential in terms of promoting innovation towards a more climate friendly electricity system. From an environmental innovation perspective the following improvements are essential: (1) Closure provisions should be abolished as soon as possible because they basically extend the lifetime of old installations and thus rather delay innovation. (2) Fuel-specific allocation to new entrants should also be abandoned since it eliminates - at least partly - the incentives to shift investments towards technologies which use more carbon friendly fuels such as natural gas or biomass. (3) Introducing full auctioning for the electricity industry would remedy both of the above-mentioned weaknesses and at the same time eliminate the windfall profit generated by free allocation of allowances

Emissions trading and innovation in the German electricity industry

Energy Technology Data Exchange (ETDEWEB)

Cames, Martin

2010-07-01

One major objective of the introduction of emissions trading in the European Union was to promote innovation towards mitigating climate change. Focusing on the German electricity industry, the extent to which this objective has been achieved up to now and how the design of the trading scheme could be improved towards achieving the intended objective shall be analyzed in this thesis. These questions are tackled in the thesis from a theoretical and an empirical perspective. The theoretical analysis was largely based on neoclassical environmental economics by using an algebraic model which allowed for comparison of the relevant companies' profits under various configurations of the analyzed design options. The empirical analysis was grounded on two surveys of the electricity industry - one before the start of emissions trading, the other after two and a half years of experience - which enabled identification of the concrete changes in the companies' perceptions and attitudes towards innovation due to the introduction of emissions trading. The analysis reveals some indications that the instrument has basically functioned as originally intended although it has certainly not yet developed its full potential in terms of promoting innovation towards a more climate friendly electricity system. From an environmental innovation perspective the following improvements are essential: (1) Closure provisions should be abolished as soon as possible because they basically extend the lifetime of old installations and thus rather delay innovation. (2) Fuel-specific allocation to new entrants should also be abandoned since it eliminates - at least partly - the incentives to shift investments towards technologies which use more carbon friendly fuels such as natural gas or biomass. (3) Introducing full auctioning for the electricity industry would remedy both of the above-mentioned weaknesses and at the same time eliminate the windfall profit generated by free allocation of

Trade Exposure of Energy Intensive Sectors

International Nuclear Information System (INIS)

Korteland, M.H.; Nelissen, D.; De Bruyn, S.M.

2010-04-01

In this report we analysed the origin and destinations of trade flows between EU and non-EU countries with respect to eight industrial sectors. In addition we looked at the political pledges made during the Copenhagen negotiations last December. If we combine these two types of insights, we get an idea of the risk of carbon leakage due to EU climate policies. Our analysis shows that the EU often trades with countries that have climate policy in place. As these major trading partners of the EU can be expected to adopt similar stringent climate policies, CO2 might get a price in these markets as well and the risk of carbon leakage is reduced/absent. Trade intensities should be corrected for that. In case the EU will adopt a -30% emission reduction target, trade with Australia, New Zealand, Japan, Switzerland, Brazil and Mexico, need to be excluded from the calculation of trade intensities since those countries will adopt comparable climate policies. The average downward correction on trade intensities is 3%. If the EU eventually decides to adopt a -20% reduction scenario, trade flows with Russia, Canada and the USA should also be excluded. Those countries will then have policies of similar stringency. The average correction on trade intensities is then -8,5%. These findings have direct consequences on the allocation mechanism for some sectors, which will no longer receive free emission rights as they do not qualify as 'exposed' to international competition anymore. These sectors are listed in Table 4 (-30% scenario) and Table 5 (-20% scenario) on page 31. Yet, those sectors that are expected to face large cost increases (>5%) due to EU ETS, will still receive free allocation.

The Social Dimension of EU Trade Policies

DEFF Research Database (Denmark)

Manners, Ian

2009-01-01

will ask how the EU initiatives in this area could increase the legitimacy of the ‘trade and social linkage' in international politics and economics from a normative power perspective. Finally, the article concludes by suggesting a more holistic approach to the promotion of the social dimension......'s social dimension in trade relations - human rights versus welfare concerns and exclusive competence versus lack of competence. These questions and tensions are rendered more methodologically problematic by the existence and activities of other actors and trading powers, such as the International Labour...... Organisation (ILO) and the World Trade Organization (WTO), as well as the United States and China, for example. The rest of the article will provide refl ections on the ideas raised in the special issue from a normative power perspective in six sections. First, it will elaborate on the role of labour rights...

EU-China Trade Partnership: Strategic Importance of Central and Eastern European Members

Directory of Open Access Journals (Sweden)

Loredana Jitaru

2016-01-01

the increase of Chinese investment in Europe. This paper aims to analyze trade flows betweenChina and the EU member states in Central and Eastern Europe in the framework of the EU-Chinatrade partnership and how these countries can be considered a strategic partner in EU-Chinatrade relations.

Trends in Trade and Investment Flows between the EU and the BRIC Countries

Directory of Open Access Journals (Sweden)

Iulia Monica OEHLER-ŞINCAI

2011-06-01

Full Text Available In this paper, we intend to present an in-depth comparative analysis of the trade and investment flows between the EU member states and the four strongest emerging countries: Brazil, Russia, India and China (BRIC, during 2004-2009(1 and beyond. In the EU-BRIC equation, we include for comparison countries like the USA and Japan, and their respective relations with BRIC.The purpose of the paper is to contribute to the discussion of the integrated issues related to trade and investments, since the EU-BRIC relations represent one of the most important „pieces” in this „global puzzle”.First, relying on the statistics published by Eurostat, the WTO, the UNCTAD and the national authorities, our study highlights the main trends of the trade and investment flows between the EU and BRIC, in comparison with those of the USA and BRIC or Japan and BRIC.Second, we emphasize the principal factors that contributed to these developments and their economical consequences. For example, the global economical situation, the political decisions, the resource scarcity or the (still existing fiscal paradises play a major role in the celerity and magnitude of the trade and investment flows.Third, on the basis of the actual data and information, our analysis outlines the perspectives of the EU-BRIC trade and investment relations in the long run.Following this rationale, the paper is structured around three main sections, followed by a summary of the conclusions of the author.

Facing the challenges of the Eu emissions trading scheme

International Nuclear Information System (INIS)

Bryers, S.

2006-01-01

Carbon Capital Markets, a specialist trader in the EU ETS has helped a number of cement and chalk producers in Europe manage their CO 2 (or EU Allowance (EUA)) position. From its experience with working with these companies, it recommends ways in which manufacturers can manage their CO 2 position more effectively. (author)

Proceedings of the Emissions trading conference : effective strategies for successful emissions trading in a global market

International Nuclear Information System (INIS)

2001-01-01

There is growing interest everywhere in the topic of emissions trading in order to meet the commitments made under the Kyoto Protocol. During this conference, most aspects of emissions trading were discussed, ranging from the need to establish credible emission reduction estimates to the means of achieving those goals, to the trading activities of Ontario Power Generation in the field of emissions trading both at the domestic and the international level. There were presentations that focussed on greenhouse gas policies, markets and strategic plays, and the preparation for the regulation of greenhouse gas. An emissions trading regime for Canada was examined by one of the presenters. This conference provided a useful venue for all stakeholders to discuss various strategies and ideas related to emissions trading. Speakers represented governments, the private sector and utilities, as well as the National Round Table on the Environment and the Economy. tabs., figs

Prospects of an EU-Mercosur trade agreement for the Dutch agrifood sector

NARCIS (Netherlands)

Berkum, van S.

2015-01-01

This report provides insights into the current trade relations between the EU and Mercosur and assesses impacts of a comprehensive trade agreement between the two blocs on the Dutch agrifood sector. Trade opportunities of Dutch fruit & vegetables and dairy products would expand if an agreement

Free allocation in the European Emissions Trading System (EU ETS): identifying efficient mechanisms through to 2030

International Nuclear Information System (INIS)

Jalard, Matthieu; Alberola, Emilie

2015-11-01

In a world with asymmetrical climate policies, the conclusions of the European Council of October 2014 agreed on continuing the allocation of free CO 2 emissions allowances beyond 2020 to industrial sectors in the EU ETS. This statement has been confirmed in the European Commission's proposal to revise EU ETS directive for phase IV disclosed in July 2015. The stated objective is to ensure that the most efficient industrial installations do not face undue carbon costs which would lead to carbon leakages. Furthermore, free allocations should not undermine the incentive to cut CO 2 emissions, lead to distortions or windfall profits and reduce the auctioning share of allowances. From 2013 to 2020, the allocation of free allowances has been defined according to harmonized European rules based on benchmarks (carbon intensity targets) and historical output adjusted to the free allocation cap by applying the Cross-Sectoral Correction Factor (CSCF). What would be the impact of pursuing the current mechanism through to 2030? Does the EU Commissions' proposal of 15 July respond to the Council's requirements? Which alternative mechanisms could do so? This study examines four scenarios and their potential consequences. - Scenario 1 continues the current free allocation mechanism until 2030. The volume of free allocations thus calculated would be higher than the available free allocation cap and would need to be reduced by a Cross-Sectoral Correction Factor (CSCF) of 66% in 2030. Carbon costs would thus increase for all installations, regardless their exposure to carbon leakages, reducing the protection of most exposed sectors, while widely allocating sectors with limited exposure. - Scenario 2 analyses the proposal to implement an allocation mechanism based on recent industrial output combined with appropriate updating of benchmarks. This allocation method is more effective in combating carbon leakage, as it gives clearer incentive to maintain domestic production

On the determinants of industrial competitiveness: The European Union emission trading scheme and the Italian paper industry

International Nuclear Information System (INIS)

Meleo, Linda

2014-01-01

The European Union Emission Trading Scheme (EU-ETS) represents the masterpiece that the EU adopted to achieve the Kyoto Protocol and “Europe 2020” strategy goals of reducing greenhouse gas (GHG). Although the EU-ETS is designed “in order to promote reductions of greenhouse gas emissions in a cost-effective and economically efficient manner” and “without prejudice for the Treaty”, the system has become a concern issue for firms and industries over competitiveness in European and international markets in addition to carbon leakage. This paper analyses whether and to what extent the EU-ETS may harm competitiveness, by following a qualitative approach, and presenting the case of the Italian paper industry, included in the system as an energy-intensive sector. More specifically, first the paper identifies those key factors that provide a qualitative measure of the “competitiveness risk” related to the EU-ETS; then, those factors are used to examine the Italian paper industry and to assess the actual and potential risks affecting the sector. This analysis is of interest given the lack of similar studies on the Italian paper industry and represents a starting point to serve further studies and future policymaking in Italy and Europe. - Highlights: • The European Emission Trading Scheme (EU-ETS) and the effects on the Italian paper industry competitiveness. • Key factors that provide a measure of the “competitiveness risk” for the Italian paper industry. • Those risks are limited at the moment, but some factors need to be carefully managed, such as electricity uses and prices. • Industrial policies and new firms strategies are required to manage the “competitiveness risk” in the coming years

Aspects related to 'emission trading'

International Nuclear Information System (INIS)

Tutuianu, Ovidiu

1999-01-01

The paper presents the aspects of international GHG (greenhouse gases) emission trading, such as: quality of GHG emission data, possible partners, monitoring activity, market mechanisms and difficulties. The following conclusions are drown: - debates on international trade with GHG emissions are currently in a very early stage; - actions are possible and feasible, particularly after Kyoto Conference, as versatile mechanism (besides the Joint Implementation Projects) which have in view the lowering of the global emission costs in different zones of the planet; - difficulties concerning monitoring, reporting and verification, practically preclude implementing a system of emission trading covering all the GHG, all the sources and reservoirs; - an international viable system of emission trading could initiate with a limited number of participants and consideration of only emission categories easy to be confined and surveyed; - existence of a national market and corresponding institutions for monitoring which could booster an international system development

Lobbyism and CO2 Trade in the EU

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard

2002-01-01

Has the EU Directive Proposal on CO2 trade been influenced by lobbyism and can it be improved? After hypothesizing how the EU may be vulnerable to lobbyism and why industrial groups have a strong incentive to lobby for favourable environmental regulation, we turn to empirical evidence concerning...... design. Here, it is possible to measure lobbyism as the difference in proposed design between the Green Paper (before lobbyism) and the final Directive Proposal (after lobbyism). Overall we suggest that this lobbyism affected the design of the EU CO2 market in favour of small-sized and well......-organised industrial interest groups at the expense of the EU tax payers. Most critically, allocation of permits and enforcement issues are to be dealt with at the member state level rather than the supranational level allowing member states to favour their domestic industries. A likely market breakdown means less...

Economic, environmental and international trade effects of the EU Directive on energy tax harmonization

International Nuclear Information System (INIS)

Kohlhaas, Michael; Schumacher, Katja; Diekmann, Jochen; Schumacher, Dieter; Carmes, Martin

2005-01-01

In October 2003, the European Union introduced a Directive, which widens the scope of the EU's minimum taxation system from mineral oils to all energy products including coal, natural gas and electricity. It aims at reducing distortions that currently exist between Member States as well as between energy products. In addition, it increases previous minimum tax rates and thus the incentive to use energy more efficiently. The Directive will lead to changes in the energy tax schemes in a number of countries, in particular some southern Member Countries (Greece, Spain, Portugal) and most of the new Member States. In this paper, we analyze the effects of the EU energy tax harmonization with GTAP-E, a computable general equilibrium model. Particular focus is placed on the Eastern European countries, which became new members of the EU in May 2004. We investigate the effects of the tax harmonization on overall economic growth and sectoral development. Special attention is paid to international trade in order to analyze if competitiveness concerns, which have been forwarded in the context of energy taxation are valid. Furthermore, the effect on energy consumption and emissions and thus the contribution to the EU's climate change targets is analyzed

EU GHG Emission Targets: 'Mind the gap'

International Nuclear Information System (INIS)

Lojodice, Ilaria

2012-06-01

In Durban, the European Union has been able to overcome the traditional dividing lines between developed and developing countries, setting a 'road-map' for a post-Kyoto framework. This would see countries conclude an 'agreed outcome with legal force' on emissions targets by 2015. Was this a key goal or a partial success for EU climate diplomacy? The main concerns are that the second commitment period would only come into force by 2021, and that necessary carbon cuts are not be increased before 2020. The direct by-product for the EU victory has been the awakening of the debate about raising emissions reductions to 30%. In fact, as stated in the Low Carbon Road-map, the EU has adopted a target of cutting emissions by 20% to by 2020, and of moving to a 30% reduction target if the conditions are right. Is this finally the time for Europe to improve its performance, even if it means going it alone? The EU has always been a strong defender of the Kyoto Protocol under certain constraints, such as developing and emerging countries entering into the deal. But does the EU have all the right assets to fight for this? Where is Europe in achieving its 2020 goal? In essence, this paper provides an estimate of what EU emissions could be in 2020, and how they stand compared to Kyoto and 20% objective of the 2020 strategy. (author)

EU-India free trade agreement : a quantitative assessment

NARCIS (Netherlands)

Achterbosch, T.J.; Kuiper, M.H.; Roza, P.

2008-01-01

This report analyses the effects of a regional trade agreement (FTA) between the EU and India, for which negotiations are underway. The study starts with abrief overview of the key insights from the existing literature on FTAs and their relationship with multilateral negotiations. The remainder of

CO2-emission trading and green markets for renewable electricity. Wilmar - deliverable 4.1

DEFF Research Database (Denmark)

Azuma-Dicke, N.; Morthorst, Poul Erik; Ravn, H.F.

2004-01-01

This report is Deliverable 4.1 of the EU project “Wind Power Integration in Liberalised Electricity Markets” (WILMAR) and describes the application of two policy instruments, Tradable Emissions Permits (TEP’s) and Tradable Green Certificates (TGC’s) forelectricity produced from renewable energy...... sources in the European Union and the implications for implementation in the Wilmar model. The introduction of a common emission-trading system in the EU is expected to have an upward effect on the spot pricesat the electricity market. The variations of the spot price imply that some types of power...... generation may change the situation from earning money to losing money despite the increasing spot price. Heavy restrictions on emissions penalise thefossil-fuelled technologies significantly, and the associated increase in the spot price need not compensate for this. Therefore, a market of TEP’s is expected...

The Economic Determinants of Bioenergy Trade Intensity in the EU-28: A Co-Integration Approach

Directory of Open Access Journals (Sweden)

Mohd Alsaleh

2018-02-01

Full Text Available This paper examines the dynamic effect of the economic determinants on bilateral trade intensity of the European Union (EU region’s bioenergy industry outputs. The authors adopt the panel co-integration model approach to estimate annual trade intensity data of the EU-28 countries’ bioenergy industry outputs from 1990 to 2013. This study investigated the long-term influence of the rate of real exchange, gross domestic product (GDP, and export price on the trade intensity of bioenergy industry applying fully modified oriented least square (FMOLS, dummy oriented least square (DOLS, and pooled mean group (PMG models. In the current study, the findings boost the empirical validity of the panel co-integration model through FMOLS, indicating that depreciation has improved the trade intensity. This study has further investigated, through the causality test, a distinct set of countries. FMOLS estimation does find proof of the long run improvement of trade intensity. Thus, the result shows that the gross domestic product (GDP and the real exchange rate have a positive and noteworthy influence on the EU-28 region trade intensity of the bioenergy industry. Moreover, the export price affects negatively and significantly the trade intensity of the bioenergy industry in the EU-28 countries.

Negotiating services liberalization within TTIP : The EU external trade policy at crossroads

NARCIS (Netherlands)

Delimatsis, Panagiotis

2016-01-01

The conclusion of the Transatlantic Trade and Investment Partnership (TTIP) constitutes a priority and key component of the new external trade policy of the European Union (EU) and an immediate follow-up to several years of regulatory cooperation between the two global trade powers. In an era of

Carbon trading thickness and market efficiency

International Nuclear Information System (INIS)

Montagnoli, Alberto; De Vries, Frans P.

2010-01-01

This note tests for the efficient market hypothesis (EMH) in the market for CO 2 emission allowances in Phase I and Phase II of the European Union Emissions Trading Scheme (EU ETS). As usually is the case in emerging and non-competitive markets such as the EU ETS, trading often not occurs on a frequent basis. This has adverse implications for both the gains from permit trade as well as biases the EMH tests. Variance ratio tests are employed to adjust for the thin trading effect. The results indicate that Phase I - the trial and learning period - was inefficient, whereas the first period under Phase II shows signs of restoring market efficiency. (author)

The next step in Europe's climate action. Setting targets for 2030. Reviving the EU emissions trading system and bringing EU greenhouse gas emissions on a 2C track. Policy brief

Energy Technology Data Exchange (ETDEWEB)

Hoehne, N.; Gilbert, A.; Hagemann, M.; Fekete, H.; Lam, Long; De Vos, R. [Ecofys, Utrecht (Netherlands)

2013-06-15

This paper explains how setting 2030 targets will reinvigorate the ETS and will put EU emissions on track to limit global temperature increase below two degrees Celsius (2C). This paper describes four key findings for EU policymakers engaged in preparing EU energy and climate measures for 2030 and for the longer term. The European Commission estimates that by 2020, the companies participating in the ETS will have accumulated a surplus of 1.5 to 2.3 billion allowances, which may be banked and used beyond 2020. This is about the same size as the annual emissions budget of ETS companies (just below 2 billion tonnes). Applying equity principles to the global distribution of efforts in reaching the 2C goal, an indicative 'fair' EU contribution would be a reduction of EU greenhouse gas emissions by around 49% (median of a full range from 39 to 79%) by 2030 compared to 1990 levels. The 2030 targets can be set in a way to also accommodate the surplus expected until 2020. If the entire surplus of allowances from the ETS were to be used after 2020, the 2030 target has to become around 7 percentage points more stringent to compensate for that. Alternatively, the trajectory of the target from 2021 to 2030 could be set to compensate for the surplus. In addition, a more ambitious trajectory towards 2030 would cast its shadow on the mitigation in the period 2013-2020. It would strengthen the ETS, in conjunction with any other ETS recalibration options such as shifting the auctioning ('backloading') or cancelling allowances before 2020.

The Adaptation Law for emissions trading. Part 2. A level playing field for emissions trading?

International Nuclear Information System (INIS)

Simonetti, S.

2010-01-01

To supplement, clarify and simplify the regulations for emission trading, the Amendment Act emission trading II was submitted to the Dutch Lower Chamber end of 2009. This article discusses the pending bill and comments on a number of remarkable stipulations that may be important to the market parties. First a brief overview is provided of the basic principles of emission trading and the players in the CO2 market. [nl

A Case Study of the Accounting Models for the Participants in an Emissions Trading Scheme

Directory of Open Access Journals (Sweden)

Marius Deac

2013-10-01

Full Text Available As emissions trading schemes are becoming more popular across the world, accounting has to keep up with these new economic developments. The absence of guidance regarding the accounting for greenhouse gases (GHGs emissions generated by the withdrawal of IFRIC 3- Emission Rights - is the main reason why there is a diversity of accounting practices. This diversity of accounting methods makes the financial statements of companies that are taking part in emissions trading schemes like EU ETS, difficult to compare. The present paper uses a case study that assumes the existence of three entities that have chosen three different accounting methods: the IFRIC 3 cost model, the IFRIC 3 revaluation model and the “off balance sheet” approach. This illustrates how the choice of an accounting method regarding GHGs emissions influences their interim and annual reports through the chances in the companies’ balance sheet and financial results.

Judicial aspects of emission trade. Disputes

International Nuclear Information System (INIS)

Bitter, J.W.

2004-01-01

Emission trade will start in Europe in 2005. In a series of articles an overview will be given of several juridical aspects with respect to the international and national trade of emission. In this last part attention will be paid to settlement of disputes in emissions trade [nl

78 FR 23954 - U.S.-EU Transatlantic Trade and Investment Partnership Agreement: Advice on the Probable Economic...

Science.gov (United States)

2013-04-23

... INTERNATIONAL TRADE COMMISSION [Investigation Nos. TA-131-037 and TA-2104-029] U.S.-EU Transatlantic Trade and Investment Partnership Agreement: Advice on the Probable Economic Effect of Providing.... TA-131-037 and TA-2104-029, U.S.-EU Transatlantic Trade and Investment Partnership Agreement: Advice...

Blue emission in photoluminescence spectra of the red phosphor CaAlSiN3:Eu2+ at low Eu2+ concentration

Science.gov (United States)

Suda, Yoriko; Kamigaki, Yoshiaki; Yamamoto, Hajime

2018-04-01

In red phosphor CaAlSiN3:Eu2+, unintentional blue emission occurs with increasing intensity at low Eu2+ concentrations and also at low measurement temperatures. Time-resolved photoluminescence measurements were used to confirm the decrease in red emission and increase in blue emission with the decreasing Eu2+ concentration. The peak timing of blue emission occurred faster than that of red emission, and long lasting luminescence of red emission was observed as well as that of blue emission. The Eu2+ concentration dependences of the red and blue emissions were similar to those of the g values 4.75 (Eu2+) and 2.0025 (nitrogen vacancies), respectively, which were observed from electron spin resonance (ESR) measurements. The origin of the blue emission is proposed to be nitrogen vacancy defects, which had about the same ESR signal intensity as that of Eu2+ ions in CaAlSiN3:Eu2+ containing 0.01 at. % Eu2+. The possibility of red emission also arising from excited electron tunneling or thermal pathways via nitrogen vacancies is discussed. Long lasting red emission was observed, which is proposed to involve trapped electrons remaining at nitrogen vacancies, yielding blue emission and inducing red emission from Eu2+ ions.

Saving emissions trading from irrelevance

International Nuclear Information System (INIS)

Tindale, Stephen

2013-01-01

Uncontrolled climate change is the greatest risk that humanity faces. The main burden will fall on developing countries, particularly in sub-Saharan Africa. But Europe and its residents will also be damaged in many ways, including extreme weather, heat waves, and the spread of tropical diseases. Climate change is a quintessentially global challenge. If pollution shifts from one part of the world to another - from Europe to China, for example - the global climate is no better off. The main EU climate policy, the Emissions Trading System, now stipulates such a low carbon price that it has become essentially irrelevant. The European Commission should propose a Europe-wide carbon price floor of euro 30 per tonne, high enough to influence investment decisions and encourage energy efficiency and low-carbon energy supply. The Commission should also propose border tax adjustments, with the revenue returned to the country of origin

A public choice view on the climate and energy policy mix in the EU — How do the emissions trading scheme and support for renewable energies interact?

International Nuclear Information System (INIS)

Gawel, Erik; Strunz, Sebastian; Lehmann, Paul

2014-01-01

In this paper, we analyze the rationale for an energy policy mix when the European Emissions Trading Scheme (ETS) is considered from a public choice perspective. That is, we argue that the economic textbook model of the ETS implausibly assumes (1) efficient policy design and (2) climate protection as the single objective of policy intervention. Contrary to these assumptions, we propose that the ETS originates from a political bargaining game within a context of multiple policy objectives. In particular, the emissions cap is negotiated between regulators and emitters with the emitters' abatement costs as crucial bargaining variable. This public choice view yields striking implications for an optimal policy mix comprising RES supporting policies. Whereas the textbook model implies that the ETS alone provides sufficient climate protection, our analysis suggests that support for renewable energies (1) contributes to a more effective ETS-design and (2) may even increase the overall efficiency of climate and energy policy if other externalities and policy objectives besides climate protection are considered. Thus, our analysis also shows that a public choice view not necessarily entails negative evaluations concerning efficiency and effectiveness of a policy mix. - Highlights: • We analyze the interaction of the EU Emissions Trading Scheme and support policies for RES. • Stylized framework with emission cap as variable to be negotiated between regulators and emitters. • RES-support contributes to a more stringent emission cap and may even increase overall efficiency

Fraud risks in emissions trading

International Nuclear Information System (INIS)

2010-09-01

The system of emission trading is a complex composed entity with on the one hand a strong environmental component and on the other hand a financial world that hooked on this instrument. In chapter 2 an introduction is provided to the emission trading system. The subsequent chapters elaborate Types of Fraud (Chapter 3), Powers (Chapter 4), and Instruments (Chapter 5). The report shows that various forms of fraud are occurring in emission trading, such as VAT fraud and identity theft. [nl

Emissions Trading - Growing Markets with Impacts on Energy and Biofuel Business

International Nuclear Information System (INIS)

Otterstroem, Tomas

2006-01-01

The markets for environmental derivatives are relatively new, e.g. in June 2006, the EU ETS has been operational for eighteen months and the Swedish electricity-certificate scheme has been operating for about three years. There is a clear trend towards an increasingly CO 2 -constrained economy, in which trading schemes are implemented with the purpose of reducing the overall cost of reaching the targets set. The business impacts of emissions trading are significant for many actors, both in terms of direct financial effects (e.g. need to buy or sell allowances) as indirect ones (e.g. changes in the competitiveness of fuels, the price of electricity and the demand for low-emission technologies). During 2005, almost 800 million tons of CO 2 equivalents have changed owner on the carbon markets. The market and variety of products are increasing and the market volume is expected to exceed 10 billion euros in 2006

Price floors for emissions trading

International Nuclear Information System (INIS)

Wood, Peter John; Jotzo, Frank

2011-01-01

Price floors in greenhouse gas emissions trading schemes can guarantee minimum abatement efforts if prices are lower than expected, and they can help manage cost uncertainty, possibly as complements to price ceilings. Provisions for price floors are found in several recent legislative proposals for emissions trading. Implementation however has potential pitfalls. Possible mechanisms are government commitments to buy back permits, a reserve price at auction, or an extra fee or tax on acquittal of emissions permits. Our analysis of these alternatives shows that the fee approach has budgetary advantages and is more compatible with international permit trading than the alternatives. It can also be used to implement more general hybrid approaches to emissions pricing. - Research highlights: → Price floors for emissions trading schemes guarantee a minimum carbon price. → Price floors mean that emissions can be less than specified by the ETS cap. → We examine how price floors can relate to different policy objectives. → We compare different mechanisms for implementing a price floor. → We find that a mechanism where there is an extra tax or fee has advantages.

Greenhouse gas emissions trading: Cogen case studies in the early trading market

International Nuclear Information System (INIS)

Buerer, Mary Jean

2001-01-01

An increasing number of companies are interested in opportunities to trade their reduction in greenhouse gas emissions from cogeneration on the emerging greenhouse gas emissions market. Only the UK and Denmark currently have emissions trading schemes, but they are under development in other European countries. Two frameworks currently exist for trading. Baseline-and-credit trading is used in Canada where companies can take part in two voluntary schemes (Greenhouse Gas Emission Reduction Trading Pilot or Clean Air Canada Inc). An example project from the CHP unit at DuPont's Maitland chemical production facility is given, with details of the baselines and calculations used. The other option is company-wide emissions trading. The example given here features the CHP units at BP's refinery and chemicals operations in Texas. The potential revenue from emission reduction projects could help to boost the economics of cogeneration projects

The European Union's potential for strategic emissions trading through permit sales contracts

International Nuclear Information System (INIS)

Eyckmans, Johan; Hagem, Cathrine

2011-01-01

Strategic market behavior by permit sellers will harm the European Union (EU) as it is expected to become a large net buyer of permits in a follow-up agreement to the Kyoto Protocol. In this paper, we explore how the EU could benefit from making permit trade agreements with non-EU countries. These trade agreements involve permit sales requirement, complemented by a financial transfer from the EU to the other contract party. Such agreements would enable the EU to act strategically in the permit market on behalf of its member states, although each member state is assumed to behave as a price taker in the permit market. Using a stylized numerical simulation model, we show that an appropriately designed permit trade agreement between the EU and China could significantly cut the EU's total compliance cost. This result is robust for a wide range of parameterizations of the simulation model. (author)

Eu-emission quenching by electron screening in VO2 thin films

International Nuclear Information System (INIS)

Liu, H.; Lysenko, S.; Rua, A.; Vikhnin, V.; Vasquez, O.; Fernandez, F.E.

2006-01-01

As a kind of phase transition functional material, Vanadium dioxide (VO 2 ) thin films deposited on fused quartz substrate were fabricated using pulsed laser deposition (PLD) technique. Europium was introduced for structure study. By laser excitation at 526 nm, VO 2 thin film undergoes a reversible and ultrafast phase transition from semiconductor to metallic state, which results in a change of optical properties. In fluorescence measurement, Eu emission was found severely quenched in all as-grown thin films. After annealing the sample in air, a red Eu-emission appeared. The emission spectrum is characterized by a pronounced twin peak, centered at 617 nm ( 5 D - 7 F 2 ), surrounded by a set of broad, but relatively weaker bands (emission from 5 D to 7 F j manifold). The emission lifetime increased when the sample annealed at higher temperature for longer time. Each spectral component is actually a doublet which is the spectral overlap of emissions from Eu 3+ situated in two sites with different configurations. One is a linear h-Eu 3+ -h, where h stands for holes. Another is a right-angle configuration of h-Eu 3+ -h with Eu 3+ in the corner. In as-grown VO 2 film, Eu 3+ ions can either substitute V 4+ , leaving a negative charge around (Eu 3+ -O) - , or substitute V 5+ , leaving two negative charges around (Eu 3+ -O) -- . Due to trapped electrons in a large radius state, it covers Eu 3+ V 4+ -V 5+ complexes. It suggests that the screening by degenerate electronic gas may result in switching off the Eu-related optical response for a wide spectral region, causing emission quenching in VO 2 films

A project-based system for including farmers in the EU ETS

DEFF Research Database (Denmark)

Brandt, Urs Steiner; Svendsen, Gert Tinggaard

2011-01-01

as ‘the missing link’ in past climate negotiations. We argue that farmers have relatively low marginal reduction costs and that consequences in terms of the effect on permit price and technology are overall positive in the EU Emission Trading System (ETS). Thus, we propose a project-based system......Farmers in the EU do not trade greenhouse gases under the Kyoto agreement. This is an empirical puzzle because agriculture is a significant contributor of greenhouse gases (GHG) in the EU and may harvest private net gains from trade. Furthermore, the US has strongly advocated land-use practices...... for including the farming practices in the EU ETS that reduces the uncertainty from measuring emission reduction in this sector. The system encourages GHG reduction either by introducing a new and less polluting practice or by reducing the polluting activity. When doing so, farmers will receive GHG permits...

Cost effects of international trade in meeting EU renewable electricity targets

International Nuclear Information System (INIS)

Voogt, M.H.; Uyterlinde, M.A.

2006-01-01

The European market for renewable electricity received a major stimulus from the adoption of the Directive on the Promotion of Renewable Electricity. The Directive specifies the indicative targets for electricity supply from renewable energy sources (RES-E) to be reached in European Union (EU) Member States in the year 2010. It also requires Member States to certify the origin of their renewable electricity production. This article presents a first EU-wide quantitative evaluation of the effects of meeting the targets, using an EU-wide system for tradable green certificates (TGC). We calculate the equilibrium price of green certificates and identify which countries are likely to export or import certificates. Cost advantages of participating in such an EU-wide trading scheme are determined for each of the Member States. Moreover, we identify which choice of technologies results in meeting targets at least costs. Results are obtained from a model that quantifies the effects of achieving the RES-E targets in the EU with and without trade. The article provides a brief insight in this model as well as the methodology that was used to specify cost potential curves for renewable electricity in each of the 15 EU Member States. Model calculations show that within the EU-wide TGC system, the total production costs of the last option needed to satisfy the overall EU RES-E target equals 9.2 eurocent/kWh. Assuming that the production price of electricity on the European power market would equal 3 eurocent/kWh in the year 2010, the indicative green certificate price equals 6.2 eurocent/kWh. We conclude that implementation of an EU-wide TGC system is a cost-efficient way of stimulating renewable electricity supply

Trade integration and synchronization of shocks : implications for EU enlargement

Czech Academy of Sciences Publication Activity Database

Babetskii, Ian

2005-01-01

Roč. 13, č. 1 (2005), s. 105-138 ISSN 0967-0750 Institutional research plan: CEZ:AV0Z70850503 Keywords : EU enlargement * business cycle * trade Subject RIV: AH - Economics Impact factor: 0.774, year: 2005

MTU locomotive drive systems for EU emissions stage IIIB

Energy Technology Data Exchange (ETDEWEB)

Wintruff, Ingo [MTU Friedrichshafen GmbH, Friedrichshafen (Germany)

2011-05-15

Emissions limits for diesel locomotives within the European Union are regulated by EU Non-road Directive 97/68/EC which places restrictions on the pollutants NOx, particulate, CO and HC. MTU has developed suitable diesel engines for EU Emissions stage IIIB. (orig.)

Designing an emissions trading scheme for China—An up-to-date climate policy assessment

International Nuclear Information System (INIS)

Hübler, Michael; Voigt, Sebastian; Löschel, Andreas

2014-01-01

We assess recent Chinese climate policy proposals in a multi-region, multi-sector computable general equilibrium model with a Chinese carbon emissions trading scheme (ETS). When the emissions intensity per GDP in 2020 is required to be 45% lower than in 2005, the model simulations indicate that the climate policy induced welfare loss in 2020, measured as the level of GDP and welfare in 2020 under climate policy relative to their level under business-as-usual (BAU) in the same year, is about 1%. The Chinese welfare loss in 2020 slightly increases in the Chinese rate of economic growth in 2020. When keeping the emissions target fixed at the 2020 level after 2020 in absolute terms, the welfare loss will reach about 2% in 2030. If China's annual economic growth rate is 0.5 percentage points higher (lower), the climate policy-induced welfare loss in 2030 will rise (decline) by about 0.5 percentage points. Full auctioning of carbon allowances results in very similar macroeconomic effects as free allocation, but full auctioning leads to higher reductions in output than free allocation for ETS sectors. Linking the Chinese to the European ETS and restricting the transfer volume to one third of the EU's reduction effort creates at best a small benefit for China, yet with smaller sectoral output reductions than auctioning. These results highlight the importance of designing the Chinese ETS wisely. - Highlights: • 45% Chinese carbon intensity target for 2020 implemented via emissions trading. • 1% GDP/welfare loss in 2020 and 2% in 2030 for a fixed emissions target after 2020. • 0.5 percentage points higher (lower) growth, increases (decreases) climate policy-induced welfare loss in 2030 by about 0.5 percentage points. • Similar macroeconomic effects for free allocation and full auctioning, but higher reductions in output under full auctioning in ETS sectors. • Restricted linking to EU emissions trading creates at best a small benefit for China

Emissions trading under market imperfections

Energy Technology Data Exchange (ETDEWEB)

Lappi, P.

2013-08-15

In this thesis we consider emissions trading under various market imperfections such as uncertainty over permit price, imperfect competition and noncompliance. First, we study the effects of uncertain permit price on the firms choice of emission intensive and clean inputs in an multi-input production process. We also assess the risk aversion factors of some Finnish heat and power producers. Second, we study imperfect competition in output and permit markets with a two-stage model, where output decision is made before permit trades. The emphasis is on the strategic interaction between firms and on the efficiency increasing regulation. Third, we turn back to uncertainty and analyse the welfare difference between emissions trading and emission tax, when some of the firms may be noncompliant. The main finding is that welfare is greater with emission tax than with emissions trading, when at least one firm is noncompliant. Finally, we extend some existing models of permit banking and borrowing to encompass also noncompliant behavior of firms. Here, we analyse the incentives of compliant firms to become noncompliant at some point in time and also the time paths of the choice variables. (orig.)

Emissions trading: saviour or destroyer?

International Nuclear Information System (INIS)

Dougas, P.; Kearney, B.

2007-01-01

Australia is almost certain to get a greenhouse gas emissions trading scheme in the next five years. Trading is now embraced by both political parties at the federal level and by all the states, as a key policy to address greenhouse gas emissions. But the story does not end there - there are crucial design and implementation decisions that will affect the efficiency and effectiveness of an emissions trading scheme and it is vital for the Australian economy that we get this right. Addressing greenhouse gas emissions will be a massive and costly effort and we need to make sure this happens, but at the lowest possible cost. Populist solutions and silver bullets abound, but there are no simple solutions and we need to start taking action on a broad front to minimise the cost. Emissions trading will have significant and lasting effects of the broader Australian economy, but is likely to be felt most in the energy sector. We need informed and rational discussion and policy development to get it right

Investigations in relation with prevention of global warming in fiscal 2000. Structuring of strategies related to emission trading; 2000 nendo chikyu ondanka boshi kanren chosa hokokusho. Haishutsuryo torihiki ni kakawaru senryaku kochiku

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-03-01

Investigations in relation with the greenhouse effect gas emission trading system have been performed on introduction and discussion of the system in major countries in order to discuss basically the emission trading system in Japan. The EU has been advancing the discussion with the introduction thereof to start in 2005 kept in mind, whereas the points of issue for the system designing include the followings: what roles should be taken by the EU and membership countries, consistency between the membership countries with regard to the participating organizations, and the scheme for initial allocation. In Denmark, the emission trading system has been introduced in January 2001 between the electric power companies. The objects of the allocation are only the eight power generation companies, making the management of emission right retaining quantities by the government simple. The United Kingdom has a schedule of introducing the emission trading system in April 2001, but the trading itself will start in 2002. Management of the trading scheme, and acceptability of banking after 2008 are the main points of issue. In the fundamental discussions on designing the emission trading system in Japan, discussion items were extracted, and the points of issue were put into order. (NEDO)

International distortions of competition under emissions trading due to differences in national permit allocation. Theory and empirical analysis of the EU-energy intensive industry

International Nuclear Information System (INIS)

Brockhagen, D.

2004-03-01

The first part develops a theory of distortions of competition among competing firms, induced by differences in the method and/or stringency of national allocation of greenhouse gas emission permits in an international emissions trading system. By applying neoclassical theory on output optimisation, price setting and other factors such as R and D expenditures, five potentially distorting effects are identified for perfect and imperfect markets,. The second part develops economic indicators and a two tier approach, which can be applied empirically, in order to test whether an industry is vulnerable to the potential effects found before. The third part applies the two tier approach empirically to four sectors of the energy intensive industry in the EU: steel making, cement, oil refining and electricity generation. The steel industry is the most vulnerable industry, followed by oil refining, whereas cement and electricity are not vulnerable. At a permit price of 20 euros/ton CO 2 , and with national allocations that differ more than 40% in terms of allowed emissions per ton product output, this thesis predicts that some steel makers would be forced out of the market. (author)

FY 2000 report on the survey on global warming prevention measures in main E.U. countries; 2000 nendo EU shuyokoku ni okeru ondanka boshi taisaku no gaiyo ni tsuite hokokusho

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-03-01

This report dealt with the background of energy policies in E.U. countries and energy plans. At COP3, E.U. countries internationally gave a pledge that they will reduce the emission of greenhouse effect gas 8% from that as of 1990 during 2008-2012, which is stricter than those given by Japan and the U.S. Actually, the European Commission made public 'Toward the European Climate Change Programme' and 'Green Paper on Emissions Trading in the E.U.' These are correspondent to E.U.' global warming preventive strategy which is called the twin track approach by the European Commission. The former is a frame for coordinating individual reduction measures taken under the responsibility of member countries as the whole E.U. As to the latter, for the specified sectors from energy supply sectors to large energy consumption industries, it was planned to be started in 2005. And, the basic policy on the trade and concrete subjects/problems on the trading system were arranged. (NEDO)

Greenhouse gas emission trading schemes: a new tool for the environmental regulator's kit

International Nuclear Information System (INIS)

Soleille, Sebastien

2006-01-01

As the European Union greenhouse gas emission trading scheme (ETS) is emerging, it seems interesting to look back on previous experiments and to bring together a few elements of reflection about the pertinence of ETS as a new policy tool to regulate industrial pollution. So far, several regulatory tools have been used to decrease pollution. This article focuses on two of them, command-and-control (CAC) and ETS. There is no simple answer to which one is more efficient. It depends strongly on the context. Given a few elements outlined in this paper, the choice of an ETS to abate industrial emissions of greenhouse gases in the European Union (EU) can be considered pertinent. But, ultimately, what makes a scheme environmentally efficient is not the tool in itself (ETS or CAC) but the ambition of the target. Hence the design of the National Allocation Plans setting the emission caps are of paramount importance. They will make the EU ETS either a useless mess or an effective climate change mitigation policy tool

A project-based system for including farmers in the EU ETS.

Science.gov (United States)

Brandt, Urs Steiner; Svendsen, Gert Tinggaard

2011-04-01

Farmers in the EU do not trade greenhouse gases under the Kyoto agreement. This is an empirical puzzle because agriculture is a significant contributor of greenhouse gases (GHG) in the EU and may harvest private net gains from trade. Furthermore, the US has strongly advocated land-use practices as 'the missing link' in past climate negotiations. We argue that farmers have relatively low marginal reduction costs and that consequences in terms of the effect on permit price and technology are overall positive in the EU Emission Trading System (ETS). Thus, we propose a project-based system for including the farming practices in the EU ETS that reduces the uncertainty from measuring emission reduction in this sector. The system encourages GHG reduction either by introducing a new and less polluting practice or by reducing the polluting activity. When doing so, farmers will receive GHG permits corresponding to the amount of reduction which can be stored for later use or sold in the EU ETS. Copyright © 2010 Elsevier Ltd. All rights reserved.

Greenhouse gas emissions trading and complementary policies. Developing a smart mix for ambitious climate policies

Energy Technology Data Exchange (ETDEWEB)

Matthes, Felix C.

2010-06-15

. Closer examination of the practical implementation of the European Union Emissions Trading Scheme (EU ETS) shows very clearly that substantial differences to an ideal type of emissions trading scheme have to be taken into account, which can or should only be eliminated in the longer term or, for practical reasons, not at all. Further, analysis of the market development of the EU ETS up to now demonstrates that a strategic, robustly developed climate policy which meets the ambitiousness described also has to factor in the possibility that an emissions trading scheme cannot produce any long-term scarcity signals for different reasons (e.g. continual opportunities for revision in democratic systems, operational realities) and can thus always only serve the - essential - purpose of clearing emission reduction options close to the market which are available in the short to medium term.

Impact of the EU-Ukraine Free trade Agreement on the Dutch Economy.

NARCIS (Netherlands)

Oomes, N.; Appelman, R.; Witteman, J.

2017-01-01

We predict the impact of the EU-Ukraine DCFTA on the Dutch economy using an international trade model. We find that, in the long run, the DCFTA could nearly triple Dutch exports to Ukraine and nearly double Dutch imports from Ukraine. These effects are not yet clearly visible in recent trade

Development and trade competitiveness of the European wine sector: A gravity analysis of intra-EU flows

OpenAIRE

Pasquale Lombardi; Andrea Dal Bianco; Roberto Freda; Francesco Caracciolo; Luigi Cembalo

2016-01-01

This study analyses the intra-EU trade of the world׳s chief wine exporters, namely Italy, France and Spain. Using an augmented version of the gravity model we empirically assess which of the three countries have experienced growth in intra-EU market trade. Effects of transportation costs, as well as demand and supply gaps between origin and destination countries, on the size of bilateral trade flows were specifically taken into account. Estimation results highlight the differences between bul...

The EU Seal Products Ban – Why Ineffective Animal Welfare Protection Cannot Justify Trade Restrictions under European and International Trade Law

Directory of Open Access Journals (Sweden)

Martin Hennig

2015-03-01

Full Text Available In this article, the author questions the legitimacy of the general ban on trade in seal products adopted by the European Union. It is submitted that the EU Seal Regime, which permits the marketing of Greenlandic seal products derived from Inuit hunts, but excludes Canadian and Norwegian seal products from the European market, does not ensure a satisfactory degree of animal welfare protection in order to justify the comprehensive trade restriction in place. It is argued that the current ineffective EU ban on seal products, which according to the WTO Appellate Body cannot be reconciled with the objective of protecting animal welfare, has no legal basis in EU Treaties and should be annulled.

Improving efficiency in bilateral emission trading

International Nuclear Information System (INIS)

Burtraw, D.; Harrison, K.W.; Turner, P.

1998-01-01

When environmental damages from emissions are spatially nonuniform, permit trading has been modeled most often as a 'pollution offset program' in which emission permits are traded between agents, subject to constraints on ambient air quality. To date the institution envisioned to implement such a program involves trading on a bilateral and sequential basis. However, simulation studies indicate that the sequence of trades may alter the outcome and undermine the cost savings from a pollution offset program. This paper identifies a design for the trading institution that tends to overcome this phenomenon and improve the efficiency of equilibria obtained in a simulation model. We model a bilateral trading process for the reduction of sulfur dioxide emissions with a stochastic description of the sequence of trades within groups of nations in Europe. When trading takes place between disaggregated, stylistic representations of economic enterprises, rather than between national governments, a significantly greater portion of potential savings is achieved. In fact, under most sets of assumptions, approximate first order stochastic dominance is achieved wherein the more decentralized the trading agents, the greater the expected savings from a trading program. 4 figs., 2 tabs., 31 refs

Essential EU Climate Law

NARCIS (Netherlands)

Woerdman, Edwin; Roggenkamp, Martha; Holwerda, Marijn

2015-01-01

This innovative textbook takes a broad approach to EU climate law and presents all available legal instruments to combat climate change, ranging from greenhouse gas emissions trading to the use of renewable energy sources and energy efficiency mechanisms. After providing a definition of climate law,

Exploring the limits for CO2 emission abatement in the EU power and industry sectors—Awaiting a breakthrough

International Nuclear Information System (INIS)

Rootzén, Johan; Johnsson, Filip

2013-01-01

This study assesses the prospects for presently available abatement technologies to achieve significant reductions in CO 2 emissions from large stationary sources of CO 2 in the EU up to year 2050. The study covers power generation, petroleum refining, iron and steel, and cement production. By simulating capital stock turnover, scenarios that assume future developments in the technology stock, energy intensities, fuel and production mixes, and the resulting CO 2 emissions were generated for each sector. The results confirm that the EU goal for reductions in Greenhouse Gas Emission in the sectors covered by the EU Emission Trading System, i.e., 21% reduction by 2020 as compared to the levels in 2005, is attainable with the abatement measures that are already available. However, despite the optimism regarding the potential for, and implementation of, available abatement strategies within current production processes, our results indicate that the power and industrial sectors will fail to comply with more stringent reduction targets in both the medium term (2030) and long term (2050). Deliberate exclusion from the analysis of mitigation technologies that are still in the early phases of development (e.g., CO 2 capture and storage) provides an indirect measure of the requirements for novel low-carbon technologies and production processes. - Highlights: • Explore the limits for CO 2 emission abatement within current production processes. • Analysis of scenarios for CO 2 emissions from EU power and industrial sectors 2010–2050. • Short-term (2020) emission targets are attainable with available abatement measures. • Fail to comply with more stringent reduction targets in the long term (2050). • Efforts to develop new low-carbon production processes need to be accelerated

CO2 price dynamics. A follow-up analysis of the implications of EU emissions trading for the price of electricity

International Nuclear Information System (INIS)

Sijm, J.P.M.; Ten Donkelaar, M.; Hers, J.S.; Scheepers, M.J.J.; Chen, Y.

2006-03-01

The present study discusses the results of some follow-up analyses on the relationship between EU emissions trading and power prices, notably the implications of free allocations of CO2 emissions allowances for the price of electricity in Germany and the Netherlands. These analyses include: An update of the empirical and statistical analyses of the price trends and pass through rates of CO2 costs in the power sector of Germany and the Netherlands; An analysis by means of the model COMPETES of the potential effects of CO2 emissions trading on the wholesale market shares of the major power producers in the Netherlands; An analysis of two policy options to cope with certain adverse effects of passing through the opportunity costs of freely allocated CO2 emission allowances, i.e. less grandfathering to the major power producers - in favour of major electricity users - by either a more stringent allocation to the power generators or auctioning part of the allowances to these generators. A major finding of the present study is that dark/spark spreads of power production in Germany and the Netherlands have improved substantially in 2005, especially during the period August-December. Whereas valid CO2 pass through rates of 40 to 70 percent have been estimated for the first period of 2005 (January- July), estimates for the year 2005 as a whole - and particularly for the latter period August-December - seem to be less or not valid since other factors, such as market power or scarcity, seem also (or even more) responsible for the improvement of dark/spark spreads in the latter period of 2005 (while data are lacking to abstract for these other factors). Regarding the policy options to address adverse effects of CO2 cost pass through, the report concludes that a small degree of less grandfathering to the power producers (i.e. 10-20 percent of the allowances needed) will reduce their windfall profits accordingly, without a major, decisive impact on the operational and investment

Demand and supply of wood fuels in the emission trade

International Nuclear Information System (INIS)

Ranta, T.; Lahtinen, P.; Laitila, J.

2005-01-01

The emission trade according to the EU directive on greenhouse gas emission allowance started at the beginning of the year 2005. This will boost the demand for wood fuels because of the addition-al value of CO 2 neutrality compared to fossil fuels. This bulletin covers the development of the demand and supply of wood fuels from 2002 to 2010 both at a national and a provincial level. The demand and supply balance of wood fuels will be evaluated both without the effect of emission trade and when the emission trade price level is 20 euro/ton- CO 2 for emission rights in 2010. The evaluations of fuel consumption for individual boilers were made with the help of the databases of Electrowatt-Ekono Ltd. The demand for wood fuels was estimated to double by the year 2010, being almost 50 TWh. The share of forest chips of the demand was one third, i.e. 17 TWh. The supply potential was divided into forest chips and solid by-products from forest industry. Forest chip sources included small diameter wood from young forests and logging residues and stumps from re-generation felling sites. The supply potential calculations of logging residues and stump biomass were based on databases of regeneration felling stands. The biomass potential from small diamreter wood was evaluated on the basis of field measurements of NFI 8 and 9 at a provincial level and multi-source data at a municipal level. In 2010, the supply potential of by-products was estimated to be 28 TWh of which 11 TWh was marketable out-side of the internal use of forest industry. Correspondingly, the theoretical potential of forest chips was estimated to be 51 TWh and the techno-economical potential 24 TWh. As a result of the regional optimization model, the energy use of wood fuels was 29 TWh, which was 59 % of the potential demand. In emission trade the demand was 33 TWh, which was 68 % of the potential demand. Regionally, the potential demand for wood fuels for energy use was higher than the supply in all provinces

Policy-making under uncertainty: commentary upon the European Union Emissions Trading Scheme

International Nuclear Information System (INIS)

Haar, L.N.

2006-01-01

The authors undertake a critical assessment of the intellectual foundations supporting the new European Union (EU) Emissions Trading Scheme (ETS, or the Scheme), the cornerstone of polices designed to achieve the targets of the Kyoto Agreement of reducing emissions of greenhouse gases (GHG). Despite its considerable scope, the authors found that officially sponsored research and academic efforts in support of ETS were surprisingly limited. Importantly, in advance of implementation, a definitive consensus on both the potential economic impact and the usefulness of the Scheme in reducing the GHG emissions had not been reached. Reviewing the literature, the authors encountered varying and, at times, conflicting viewpoints, officially and in academic research, on the potential economic impact of the Scheme. These included attempts to quantify its benefits and costs, raising concern that this huge and encompassing multi-national policy initiative may have been launched with inadequate intellectual ground-work. According to the authors consistency between the ETS and other EU policies, such as those relating to energy, should have been a key concern, but such aspects have received only minimal attention in both official and academic research. The European Commission has promoted open and competitive markets for gas and power across member states, but the record in achieving such conditions is relatively poor and the authors argue that, as a result, the environmental objectives of the EU Scheme may not be thwarted. In addition, continuing disagreement over the Kyoto Agreement itself-especially with regard to its potential costs and benefits-further frustrates efforts to rigorously justify a policy in support of reducing GHG emissions. The authors argue that, given the scope of the EU Scheme, the paucity of research evidencing that it is likely to succeed in reducing GHG emissions in the form of CO 2 is surprising and should be of concern to those affected by it along with

Policy-making under uncertainty: Commentary upon the European Union Emissions Trading Scheme

International Nuclear Information System (INIS)

Haar, Laura N.; Haar, Lawrence

2006-01-01

The authors undertake a critical assessment of the intellectual foundations supporting the new European Union (EU) Emissions Trading Scheme (ETS, or the Scheme), the cornerstone of polices designed to achieve the targets of the Kyoto Agreement of reducing emissions of greenhouse gases (GHG). Despite its considerable scope, the authors found that officially sponsored research and academic efforts in support of ETS were surprisingly limited. Importantly, in advance of implementation, a definitive consensus on both the potential economic impact and the usefulness of the Scheme in reducing the GHG emissions had not been reached. Reviewing the literature, the authors encountered varying and, at times, conflicting viewpoints, officially and in academic research, on the potential economic impact of the Scheme. These included attempts to quantify its benefits and costs, raising concern that this huge and encompassing multi-national policy initiative may have been launched with inadequate intellectual ground-work. According to the authors consistency between the ETS and other EU policies, such as those relating to energy, should have been a key concern, but such aspects have received only minimal attention in both official and academic research. The European Commission has promoted open and competitive markets for gas and power across member states, but the record in achieving such conditions is relatively poor and the authors argue that, as a result, the environmental objectives of the EU Scheme may not be thwarted. In addition, continuing disagreement over the Kyoto Agreement itself-especially with regard to its potential costs and benefits-further frustrates efforts to rigorously justify a policy in support of reducing GHG emissions. The authors argue that, given the scope of the EU Scheme, the paucity of research evidencing that it is likely to succeed in reducing GHG emissions in the form of CO 2 is surprising and should be of concern to those affected by it along with

Reform of the EU's climate policy. Small step or big hit?

International Nuclear Information System (INIS)

Janssen, Matthias; Peichert, Patrick; Perner, Jens; Riechmann, Christoph

2015-01-01

Emissions trading listed as a flexible mechanism under the Kyoto Protocol is regarded as a market economy way in climate protection. Since 2005 the European Emissions Trading System (EU ETS) is the central climate policy instrument for reducing the emissions of greenhouse gases, in particular for carbon dioxide (CO 2 ). For years, however, the CO 2 price is too low to direct the politically and socially targeted technical innovations in the electricity sector and the industry. The article analyses the temporary and structural causes of this problem, highlights the EU's reform efforts and points to areas of activity, the basis of which the EU ETS may act in the future as a central instrument for climate protection in the European Union. [de

Swedish biomass strategies to reduce CO2 emission and oil use in an EU context

International Nuclear Information System (INIS)

Joelsson, Jonas; Gustavsson, Leif

2012-01-01

Swedish energy strategies for transportation, space heating and pulp industries were evaluated with a focus on bioenergy use. The aims were to 1) study trade-offs between reductions in CO 2 emission and oil use and between Swedish reductions and EU reductions, 2) compare the potential contributions of individual reduction measures, 3) quantify the total CO 2 emission and oil use reduction potentials. Swedish energy efficiency measures reduced EU CO 2 emission by 45–59 Mt CO 2 /a, at current biomass use and constant oil use. Doubling Swedish bioenergy use yielded an additional 40 Mt CO 2 /a reduction. Oil use could be reduced, but 36–81 kt of reductions in CO 2 emission would be lost per PJ of oil use reduction. Swedish fossil fuel use within the studied sectors could be nearly eliminated. The expansion of district heating and cogeneration of heat with a high electricity yield were important measures. Plug-in hybrid electric cars reduced CO 2 emission compared with conventional cars, and the difference was larger with increasing oil scarcity. The introduction of black liquor gasification in pulp mills also gave large CO 2 emission reduction. Motor fuel from biomass was found to be a feasible option when coal is the marginal fuel for fossil motor fuel production. -- Highlights: ► Bioenergy is compared to optimized fossil fuel use under different oil availability constraints. ► Swedish strategies are evaluated with respect to CO 2 emission and oil use reduction within Sweden and the EU. ► Efficiency measures give the largest reductions but increased bioenergy use is also important. ► District heating expansion, high electricity yield CHP, increased vehicle efficiency and PHEVs are important options. ► The studied sectors in Sweden could become nearly fossil-fuel free and yield an energy surplus.

Competitiveness analysis of Czech agrarian foreign trade in the context of world agrarian market and agrarian trade of EU-27 countries

Directory of Open Access Journals (Sweden)

Miroslav Svatoš

2010-01-01

Full Text Available This paper analyses the commodity structure of Czech (CR agrarian trade in relation to the EU countries. An emphasis is put on comparative advantages of particular aggregations from the view-point of their application on the EU internal market. This analysis is based on an evaluation of comparative advantages by means of a modified Balassa index. It is studied in two stages, for the internal EU market and the world market. The analysis results are then shown in a graph. Subsequently, the authors implement an idea arising from a BCG matrix on the results of the graphic presentation. The aim is to identify those aggregations (SITC, rev. 3 which are or have a potential to be a pillar of agri-business (ie, the “cash cows” and “stars”, and vice versa to show the aggregation which are non-prospective in the long term or problematic (ie, the “dogs” and “problem children”. As start are identified as those aggregations which are characterised by the highest growth rate of comparative advantage value. From the analysis results, changes are apparent if we compare the CR trade commodity structure in relation to the EU countries. Findings also concern the development of comparative advantages and following CR specialisation on trade with certain aggregations.

What Is Emissions Trading?

Science.gov (United States)

Learn the basics about how emissions trading uses a market-based policy tool used to control large amounts of pollution emissions from a group of sources in order to protect human health and the environment.

MTU engines for locomotives satisfying the EU stage IIIB emission standard; MTU-Lokomotivantriebe fuer die Emissionsstufe EU IIIB

Energy Technology Data Exchange (ETDEWEB)

Wintruff, Ingo; Reich, Christian; Geiselmann, Wolfgang; Gottschalch, Harald; Jansen, Eddy [MTU Friedrichshafen GmbH, Friedrichshafen (Germany)

2011-07-01

The emission limits for diesel locomotives inside the European Union are included within the scope of Directive 97/68/EC, which is sometimes referred to as the ''non-road directive''. The pollutants limited by it are NO{sub x}, particulates, CO and HCs. The aim, through the directive, is to reduce railway emissions by a factor of ten by the year 2020. The EU stage IIIB standard is due to take effect on 1 January 2012. This envisages a further drastic reduction in limit values compared with EU stage IIIA, which is applicable today. For diesel locomotives, EU stage IIIA only came into force as recently as 2009. The manufacturers of engines and locomotives are thus having to face up to the huge challenge of getting the technologies needed for EU stage IIIB ready for the production line within a period of only three years. MTU has succeeded in developing engines for diesel locomotives that comply with the EU stage IIIB emission standard, which appreciably lower emissions compared with engines satisfying EU stage IIIA, thanks to the incorporation of the most modern technologies available, and has even gone as far as preparing them for the EU stage IV, the next one to come into force. (orig.)

Imported emissions. The world trade stowaway

International Nuclear Information System (INIS)

Fink, Meike; Gautier, Celia

2013-05-01

This study first gives an overview of existing tools and methodological challenges to account emissions included in consumed products fabricated elsewhere. It notably discusses the passage from a methodology based on a production principle to a methodology based on a consumption principle, outlines the different methodologies associated with the different analysis levels, and the importance of uncertainty sources. The second part proposes a view on emission flows included in exports and imports. It addresses the following issues: the international level, increasing importance of emissions transferred via world trade, emissions related to consumption per capita and per social class, carbon and energy intensity of products at the origin of emissions, composition of imported and exported products and intensity of their emissions, impact of a methodological change on greenhouse gas emissions by France, extent of emissions imported in France, and Germany as the first trade partner and emission importer of France. The third part discusses the political implications of an accounting of emissions related to consumption and to world trade

Linking GHG Emission Trading Systems and Markets

Energy Technology Data Exchange (ETDEWEB)

NONE

2006-07-01

Several different types of links are possible between different GHG-mitigation systems. These include: Linking two or more emission trading schemes so that emissions trading can occur both within and between different schemes ('direct links'); and Linking emission trading systems to registries/mechanisms and systems that generate offsets from project based mechanisms or from direct purchases/transfers of AAUs ('indirect links').

Reform of the EU's climate policy. Small step or big hit?; Reform der EU-Klimapolitik. Kleiner Schritt oder grosser Wurf?

Energy Technology Data Exchange (ETDEWEB)

Janssen, Matthias; Peichert, Patrick; Perner, Jens; Riechmann, Christoph [Frontier Economics Ltd., Koeln (Germany)

2015-11-15

Emissions trading listed as a flexible mechanism under the Kyoto Protocol is regarded as a market economy way in climate protection. Since 2005 the European Emissions Trading System (EU ETS) is the central climate policy instrument for reducing the emissions of greenhouse gases, in particular for carbon dioxide (CO{sub 2}). For years, however, the CO{sub 2} price is too low to direct the politically and socially targeted technical innovations in the electricity sector and the industry. The article analyses the temporary and structural causes of this problem, highlights the EU's reform efforts and points to areas of activity, the basis of which the EU ETS may act in the future as a central instrument for climate protection in the European Union. [German] Der im Kyoto-Protokoll als flexibler Mechanismus aufgefuehrte Emissionshandel gilt als marktwirtschaftlicher Weg in den Klimaschutz. Das Europaeische Emissionshandelssystem (EU ETS) ist seit 2005 das zentrale klimapolitische Instrument zur Senkung des Ausstosses von Treibhausgasen, insbesondere fuer Kohlenstoffdioxid (CO{sub 2}). Seit Jahren ist der CO{sub 2}-Preis jedoch zu gering, um die politisch und gesellschaftlich angestrebten technischen Innovationen im Stromsektor und der Industrie zu lenken. Der Artikel untersucht die temporaeren und strukturellen Ursachen dieses Problems, beleuchtet die Reformbestrebungen der EU und zeigt Handlungsfelder auf, anhand derer das EU ETS auch in Zukunft als zentrales Instrument fuer Klimaschutz in der Europaeischen Union fungieren kann.

Transatlantic Cooperation in Space: Eu-Canada Free Trade Agreement

Directory of Open Access Journals (Sweden)

Luise Weber-Steinhaus

2014-12-01

Full Text Available National governments are keenly aware of the need for investment in space. Canada, as a formal cooperating state in the European Space Agency (ESA, and Germany, as a leading member state of ESA, are interlinked in Europe’s space endeavours. Beyond ESA, Germany and Canada additionally have a strong history of bilateral cooperation on a range of space projects. This paper discusses the novel interdependencies between clear national and now supranational space policies, using the examples of the Canada-European Union (EU Comprehensive Economic and Trade Agreement (CETA. The agreement covers most aspects of the EU-Canada bilateral economic relationship and includes space. The paper focuses on international space policies, strategic bilateral co-operation, and technical accomplishments. It takes a closer look at German-Canadian collaboration in space programs and offers some reflection on the effect of both the EU and ESA’S transatlantic involvement in space.

Determinants of Intra-Industry Trade in Agricultural and Food Products Between Poland and EU Countries

Directory of Open Access Journals (Sweden)

Łapinska Justyna

2014-09-01

Full Text Available The present study investigates the country-specific determinants of intra-industry trade between Poland and its European Union trading partners in agricultural and food products during the time period 2002-2011. An econometric model for panel data is applied for the analysis of the factors determining Polish bilateral intra-industry trade with European Union countries. The research leads to the formulation of a statement that the intensity of intra-industry trade in agricultural and food products is positively influenced by the intensity of trade with EU countries and the level of economic development of the member countries (as measured by the size of their GDP per capita. Increase in intra-trade turnover is also facilitated by EU membership and by the fact that Poland’s trade partners use similar Slavic-based languages. Relative differences in the size of the economies and relative differences in Poland’s and its trading partners’ levels of economic development have a negative impact. The degree of the imbalance of trade turnover between trading partners also negatively influences the intensity of intra-trade exchange. The research confirms that the impact of all of the identified factors determining intra-industry trade is consistent with the predictions of the theory.

Trading emissions improve air quality

International Nuclear Information System (INIS)

Lents, J.M.

1993-01-01

While admitting sharply contrasting views exist, James M. Lents of the South Coast Air Quality Management District in southern California sees emissions trading open-quotes as a lifesaver for our troubled planet.close quotes He explains: open-quotes If political support for the environment is to be maintained, we must seek the most economical and flexible means of pursuing cleanup. At present, market incentives and emissions trading represent our best hope.close quotes Lents is putting his money where his pen is. The air quality management district he heads plans to use market incentives, including emissions trading, to reduce air pollution in the notoriously dirty southern California area. When the system goes into operation in 1994, he estimates it will save southern California businesses more than $400 million a year in compliance costs, while also making major improvements in the region's air quality. If the idea works there, why won't it work elsewhere, even on a global scale, Lents asks? He believes it will. But open-quotes the ultimate success of emissions-trading programs, whether regional, national, or international in scope, lies in the proof that they're actually achieving reductions in harmful emissions,close quotes he emphasizes. open-quotes These reductions must be real and verifiable to satisfy the Clean Air Act and a skeptical public.close quotes

Investment appraisal of heat and power plants within an emissions trading scheme. Final Report of the INVIS Project

International Nuclear Information System (INIS)

Laurikka, H.; Pirilae, P.

2005-04-01

The opportunity cost for carbon dioxide (CO 2 ) emissions has become a new factor influencing investments in heat and power production capacity globally, and in particular in countries with a greenhouse gas emissions trading system, such as the European Union Emissions Trading Scheme (EU ETS). There is a considerable power capacity investment need in the coming decades in Finland, in Europe and globally. As the economic lifetime of an investment in heat and power capacity typically ranges from 20-40 years, 'carbon finance' and the EU ETS therefore introduce a considerable and fundamental price risk to the investment problem. In Europe, the price risk is present in all investments and divestments of power production licences or capacity, be it a green-field plant, a retrofit of an existing plant or an acquisition. The objective of the INVIS research project was to extend the knowledge on strategic implications of emissions trading in investments into heat and power generation. This report gives an overview on the main findings of the project. The focus of INVIS project was on (1) quantitative investment appraisal and (2) methods rather than tools or parameter values. Particular attention in the INVIS project was paid to the incorporation of emissions trading in new methods of investment appraisal, which aim at taking into account the value of real options, rights to postpone or revise decisions. The EU ETS modifies the quantitative investment appraisal of heat and power plants directly through the emission allowance price and the number of free allowances and indirectly through impacts on output prices, input prices, taxation, and subsidies. From the risk perspective, the most problematic impact seems to be the regulatory uncertainty in the number of free allowances, which can turn out to be a barrier for investment in fossil-fuel-fired thermal power plants - even combined-cycle gas turbines. The emission allowance price is a stochastic variable, which implies it is

Eu{sup 3+} emission in phosphate glasses with high UV transparency

Energy Technology Data Exchange (ETDEWEB)

Silva, G.H. [Laboratório de Espectroscopia de Materiais (LEM), Departamento de Física, Universidade Federal de Juiz de Fora, CEP 36036-900 Juiz de Fora, MG (Brazil); Anjos, V., E-mail: virgilio@fisica.ufjf.br [Laboratório de Espectroscopia de Materiais (LEM), Departamento de Física, Universidade Federal de Juiz de Fora, CEP 36036-900 Juiz de Fora, MG (Brazil); Bell, M.J.V. [Laboratório de Espectroscopia de Materiais (LEM), Departamento de Física, Universidade Federal de Juiz de Fora, CEP 36036-900 Juiz de Fora, MG (Brazil); Carmo, A.P. [Instituto Federal Fluminense-Campus Cabo Frio, CP 112015, CEP 28909-971 Cabo Frio, RJ (Brazil); Pinheiro, A.S.; Dantas, N.O. [Laboratório de Novos Materiais Isolantes e Semicondutores (LNMIS), Instituto de Física, Universidade Federal de Uberlândia, CP 593, CEP 38400-902 Uberlândia, MG (Brazil)

2014-10-15

We report a study of the phosphate glass PZABP (P{sub 2}O{sub 5}–ZnO–Al{sub 2}O{sub 3}–BaO–PbO) doped with europium (Eu{sup 3+}) in different concentrations. Absorption, photoluminescence and time resolved photoluminescence were used to investigate the influence of increasing Eu{sup 3+} concentrations. The present glass exhibits Eu{sup 3+} absorption bands in the ultraviolet region (about 300 nm) due to the high transparency of the system compared to other phosphate glasses. In this way, it was possible to obtain the Judd–Ofelt parameters from the emission and absorption spectra. Moreover, a strong red emission attributed to the transition {sup 5}D{sub 0}→{sup 7}F{sub 2} of Eu{sup 3+} (611 nm) was observed. It was found that the radiative lifetime and the quantum efficiency of the Eu{sup 3+} level, {sup 5}D{sub 0}, do not suffer a significant change as the concentration of Eu{sup 3+} ions increases. - Highlights: • UV transparent glass matrix is used for Eu{sup 3+} doping. • Judd–Ofelt parameters from the emission and absorption spectra were obtained. • Red emission attributed to the transition {sup 5}D{sub 0}→{sup 7}F{sub 2} of Eu{sup 3+} (611 nm) was observed.

Policy options to improve the effectiveness of the EU emissions trading system: A multi-criteria analysis

International Nuclear Information System (INIS)

Clò, Stefano; Battles, Susan; Zoppoli, Pietro

2013-01-01

This paper considers several policy options which have been proposed to improve the functioning of the ETS. These options require an intervention either on the ETS cap (−30% target, set-aside, carbon central bank, long-term target) or on the carbon price (European and national price floor). We analyse the impact of each policy on the ETS carbon price and emissions. A multi-criteria evaluation method is applied to compare the policy options against a plurality of environmental, economic and procedural criteria. We find that the final ranking depends on the goals to be achieved, i.e., the relative weights attributed to the criteria. When policymakers want mainly to support the carbon price both in the short and long-run, while improving ETS flexibility and harmonization, the CCB and the EU price floor are, respectively ranked as first and second-best options. As the preference for environmental and implementation goals gradually increases, the position of the EU price floor and CCB options tend to invert. The −30% target should be adopted when reducing emissions is the priority goal, while a national price floor is the worst option, in this case. Nevertheless, self-interested States looking for a relatively quick, feasible solution, may find it optimal. - Highlights: ► A multi-criteria analysis is adopted to compare policy options to improve the ETS effectiveness. ► An ETS cap reversible adjustment by a carbon central bank is the first-best option. ► The establishment of a EU-wide price floor would represent a second-best solution. ► A national price floor is the worst option but self-interest states may find it optimal. ► A post-2020 target is not a mutually exclusive option and should be set

Production of 147Eu for gamma-ray emission probability measurement

International Nuclear Information System (INIS)

Katoh, Keiji; Marnada, Nada; Miyahara, Hiroshi

2002-01-01

Gamma-ray emission probability is one of the most important decay parameters of radionuclide and many researchers are paying efforts to improve the certainty of it. The certainties of γ-ray emission probabilities for neutron-rich nuclides are being improved little by little, but the improvements of those for proton-rich nuclides are still insufficient. Europium-147 that decays by electron capture or β + -particle emission is a proton-rich nuclide and the γ-ray emission probabilities evaluated by Mateosian and Peker have large uncertainties. They referred to only one report concerning with γ-ray emission probabilities. Our final purpose is to determine the precise γ-ray emission probabilities of 147 Eu from disintegration rates and γ-ray intensities by using a 4πβ-γ coincidence apparatus. Impurity nuclides affect largely to the determination of disintegration rate; therefore, a highly pure 147 Eu source is required. This short note will describe the most proper energy for 147 Eu production through 147 Sm(p, n) reaction. (author)

No fracking way: how the EU-US trade agreement risks expanding fracking

International Nuclear Information System (INIS)

2014-03-01

A major trade deal currently being negotiated between the European Union (EU) and the United States (US) threatens the power of governments to protect communities, citizens and the environment from risky new technologies such as fracking. The Transatlantic Trade and Investment Partnership (TTIP) covers a huge range of issues and sectors, including food safety, genetically modified products, toxic chemicals, highly polluting fuels and data protection. The talks threaten to weaken or roll-back democratically agreed safeguards put in place to protect the environment and citizens - for the sake of corporate profits. The talks are likely to favour safeguards for corporate investments over safeguards for citizens and the environment, allowing companies to seek compensation when government decisions affect their profits. This could benefit companies seeking to exploit natural resources through hazardous technologies whose activities may be affected by environmental or health regulations. Fracking - or high-volume hydraulic fracturing - is used to extract hard-to-access unconventional fossil fuels, such as shale gas and oil, tight gas and coal bed methane. Fracking will increase available gas supplies, locking us into fossil fuel dependency for several decades. There is growing evidence of huge health and environmental risks and impacts from fracking and this is leading to widespread public opposition at the community level, both in the EU and the US. This brief analyses how the TTIP could limit governments' ability to regulate the development and expansion of fracking. It argues that the TTIP could dangerously thwart government efforts to address climate change and to protect citizens; could expand fracking by removing the ability of governments to control natural gas exports; and could mean that states would be forced to pay millions in compensation to corporations for profits lost to regulation. It calls on the EU and the US to exclude investor-state dispute settlement

Review of the impact of the Ukraine-EU free trade agreement on manufacturing industries (mechanical engineering, chemical and light industry

Directory of Open Access Journals (Sweden)

Olga Usenko

2007-03-01

Full Text Available The article gives a definition to the concept of ‘deep integration’ taken by the Ukrainian Government as a framework concept for the establishment of a Ukraine-EU free trade area. The paper uses the term ‘deep free trade’ or ‘free trade area +’. It offers a review of the Ukrainian economy and its readiness to open such industries as mechanical engineering, chemical and light industry to free trade with the EU. It examines which cooperative steps might be taken in the sectors in question in the framework of a free trade area by identifying specific features of those sectors in Ukraine and the EU through SWOT analysis and review of certain provisions in relevant agreements between the EU and other countries. It proposes to forecast the possible impact of a free trade area on stakeholders’ position regarding the agreement by using the ‘stakeholder approach’ (identifying and classifying interest groups and the European Commission’s method of ‘impact assessment’. Based on the results of this research, conclusions are made concerning the fundamental negotiation principles for talks between Ukraine and the EU as to the economic and trade component of the new ‘enhanced agreement.

Pollution added credit trading (PACT). New dimensions in emissions trading

International Nuclear Information System (INIS)

Schaltegger, Stefan; Thomas, Tom

1996-01-01

To date, sources of hazardous, toxic, or otherwise harmful emissions have been regulated on a pollutant by pollutant basis. Environmental policies, even the more advanced 'incentive-based' programs, have focused on individual substances rather than on the overall environmental problem to which the substances contribute. This has produced results that are less economically efficient and ecologically effective than is desirable. A more comprehensive approach combines the principles of emission reduction credit trading with advances made recently in the field of environmental impact assessment, to yield an advanced form of inter-pollutant trading, which we refer to as pollution added credit trading (PACT). PACT incorporates a method for estimating the total environmental harm generated (pollution added) by a facility emitting a variety of pollutants. Weightings that reflect relative harm are used to calculate total pollution added. Each facility covered by PACT would receive annual allowances for total pollution added that they could discharge to the environment. As with existing emissions trading programs, surplus allowances could be sold and shortfalls would be covered by purchasing other facilities' surplus allowances. PACT is more efficient than single-pollutant emissions trading in that it captures differences in marginal reduction costs that exist between pollutants as well as between facilities. It is more ecologically effective because it focuses on the overall environmental problem, rather than on the individual pollutants that contribute to the problem

Trade Union Cooperation in the EU: Views Among Swedish Trade Unions and Their Members

Directory of Open Access Journals (Sweden)

Bengt Furåker

2013-09-01

Full Text Available This article compares views among Swedish trade unions with those of their members regarding cross-national union cooperation in Europe or the EU. Data are derived from two different surveys, one among trade unions in 2010–2011 and the other among employees in 2006. It turns out that trade unions are generally more affirmative than their members to transnational union cooperation. In the employee survey, differences appear between members of the three peak-level organizations—the LO (manual workers, the TCO (white-collar workers, and Saco (professionals. However, controlling for education, these differences cannot be verified statistically. Higher education—which above all Saco members have—is linked to more positive attitudes toward transnational union cooperation. The gap between the organizations and their affiliates concerning engagement in European issues appears to be larger in the LO than in Saco, with the TCO somewhere in the middle.

COMPETITIVE POSITION OF THE MAIN PRODUCERS AND EXPORTERS OF OILSEEDS AND VEGETABLE OILS IN THE INTRA-EU TRADE

Directory of Open Access Journals (Sweden)

Karolina Pawlak

2014-09-01

Full Text Available The aim of the paper was to assess the competitive position of the main producers and exporters of oilseeds and vegetable oils in the intra-EU trade in 2004 and 2012. The competitiveness was assessed with the use of a selected set of quantitative measures of international competitive position. Moreover, some shares of the analysed countries in the intra-EU trade, as well as relative export intensity of oilseeds and vegetable oils in these countries were estimated. On the basis of the conducted analyses it is possible to conclude that apart from Germany in trade in rapeseed and soya beans, as well as the Netherlands in trade in rapeseed and sunflower-seed, the main producers and exporters of oilseeds were competitive on the Single European Market. Excluding soya-bean oil produced in the EU mainly from imported raw material, competitive advantage of most of the countries decreased together with the level of processing and was lower in trade in vegetable oils.

Recent Trends of the EU – 27 Foreign Trade Activities

Directory of Open Access Journals (Sweden)

Constanţa - Aurelia Chiţiba,

2009-10-01

Full Text Available In line with the world economy trend, the collapse in world trade in goods and services observed in the last quarter of 2008 intensified inthe first quarter of 2009, but the trough in growth rates has likely been reached; positive quarterly growth rates are expected by the end of 2009. UE-27 registered the slowest export growth of any region last year, with an expansion of just 0.0per cent, down from 3.5 per cent in 2007. Import growthturned negative in 2008, falling by 1 per cent (+3.5 per cent in 2007. If the 27 members of the European Union are considered collectively(excluding internal EU trade, the five leading exporters were the European Union (15.9 per cent of world exports, China (8.9%, the United States(8.1%, Japan (4.9% and Netherlands (3.9 per cent. Exports from the EU were worth US$ 1.93 trillion in 2008. Signs of recovery are not yet soclearly visible in the EU-27 like in USA, in the last part of 2009. Each country has its own specific combination of weaknesses such as burstinghousing bubbles, declining exports and damaged financial sectors. The eventual recovery is likely to be slow as rising unemployment will hitconsumer spending. In the above mentioned conditions, GDP in the euro area is expected to contract 4.8% in 2009 and to show 0% growth in 2010.The previous projections were for a 4.1% fall in 2009 and a 0.3% fall in 2010. The main factors with a positive influence, taken into consideration forrevising up the projections for 2010 in euro area are: the strengthening growth in world trade which will help support a turnaround in exports, thegovernmental policy support and an easing of financial conditions adopted in some countries.

Emissions trading in the real world : Ontario Power Generation's domestic and international trading activities

International Nuclear Information System (INIS)

Jantzi, B.

2001-01-01

In this presentation, the author discussed Ontario Power Generation's voluntary commitment to stabilize carbon dioxide equivalent emissions at 1990 levels. To do so, Ontario Power Generation is implementing a series of green energy initiatives, a corporate tree planting program, internal energy efficiency, and an emission reduction trading (ERT). The emphasis was placed on emission trading, where Ontario Power Generation is a leader in the field of greenhouse gas, nitrogen oxide and sulphur dioxide trading in Canada. The approach to trading adopted was explained, with the specifics provided for each of the different categories of emissions. Some examples further illustrated the process. The outlook for the future was outlined, with plans for the geological sequestration of carbon dioxide and enhanced oil recovery, low nitrogen oxide gasoline additive. The benefits of emission trading were discussed from the perspective of Ontario Power Generation and the environment, such as allowing real reductions in emissions in a cost effective manner, enhanced risk management, investments in emissions reductions. The author argued that emission reduction is the way of the future, representing the only way in which the greenhouse gas emissions reductions required to minimize global climate change will be accomplished

The initial impact of EU ETS verification events on stock prices

International Nuclear Information System (INIS)

Brouwers, Roel; Schoubben, Frederiek; Van Hulle, Cynthia; Van Uytbergen, Steve

2016-01-01

This paper studies the impact of verified emissions publications in the European Emissions Trading Scheme (EU ETS) on the market value of participating companies. Using event study methodology on a unique sample of 368 listed companies, we show that verified emissions only resulted in statistically significant market responses when the carbon price was high and allowance scarcity was anticipated. The cross-section analysis of abnormal returns surrounding the publication of verified emissions shows that share prices decrease when actual emissions relative to allocated emissions increase. This negative relationship between allocation shortfalls and firm value is only significant for firms that are either carbon-intensive, compared to sector peers, or are less likely to pass through carbon-related costs in their product prices. The results suggest that although the EU ETS has been deemed unsuccessful so far due to over-allocation and low carbon price, shareholders initially perceived allowance holdings as value relevant. Our results highlight that a significant carbon market price and addressing pass-through costing are essential for successful future reforms of the EU ETS and other analogous carbon cap-and-trade systems implemented or planned worldwide. - Highlights: •We study the impact of EU ETS verified emissions disclosure on firms' market value. •Disclosure is relevant if carbon price is high and permits scarcity is anticipated. •We find a negative relationship between allocation shortfalls and firm value. •Stronger relationship for carbon – intensive and no cost pass-through firms. •High carbon price and addressing cost pass-through are crucial for EU ETS reforms.

Voluntary emission trading potential of Turkey

International Nuclear Information System (INIS)

Ari, İzzet

2013-01-01

Climate change is likely to cause serious market failures, and carbon trading as a market instrument can help correct its negative impacts. The global carbon markets established to combat climate change include regulatory and voluntary markets. Turkey cannot utilise regulatory carbon markets under the Kyoto Protocol. As a result of her unique position in the UNFCCC, some offsetting projects in Turkey have benefitted only voluntary emission trading for the reduction of GHG emissions. Due to on-going climate change negotiation under the UNFCCC, it seems that Turkey will not use the current regulatory carbon markets. Thus, Turkey should promote the use of and participation in voluntary carbon markets. In this article, emission reduction potential via energy efficiency, renewable energy and solid waste management, and corresponding offsetting of credits with their estimated prices is investigated for the period between 2013 and 2020. The emission reduction potential for energy efficiency, renewable energy and solid waste management projects are estimated at 403, 312 and 356 million tons of CO 2 equivalent emissions respectively, totalling 1,071 million tons of CO 2 equivalent. The total revenue of the carbon certificates are estimated in the range of 19,775–33,386 million US Dollars for the same period. -- Highlights: •Turkey has 1,071 million tons GHG emission reduction in three sectors for 2013–2020. •Turkey can only use voluntary emission trading for reduction of GHGs. •Total revenue estimation could be between 19,775 and 33,386 million US Dollars. •Turkey's economy and emissions have been rapidly growing. •Turkey can more easily reduce its emission by using voluntary emission trading

Combining rate-based and cap-and-trade emissions policies

International Nuclear Information System (INIS)

Fischer, Carolyn

2003-12-01

Rate-based emissions policies (like tradable performance standards, TPS) fix average emissions intensity, while cap-and-trade (CAT) policies fix total emissions. This paper shows that unfettered trade between rate-based and cap-and-trade programs always raises combined emissions, except when product markets are related in particular ways. Gains from trade are fully passed on to consumers in the rate-based sector, resulting in more output and greater emissions allocations. We consider several policy options to offset the expansion, including a tax, an 'exchange rate' to adjust for relative permit values, output-based allocation (OBA) for the rate-based sector, and tightening the cap. A range of combinations of tighter allocations could improve situations in both sectors with trade while holding emissions constant

Refugee Quota Trading within the Context of EU-ENP Cooperation: Rational, Bounded Rational and Ethical Critiques

Directory of Open Access Journals (Sweden)

Mollie Gerver

2013-02-01

Full Text Available In 1997 Peter Schuck proposed a ‘refugee quota trading’ mechanism, whereby countries voluntarily form a union, each country accepting a quota of refugees and able to buy and sell the quota to other states within and even outside of the union. Today, the EU arguably has a de facto cash transfer mechanism both within the EU and between the EU and European Neighbourhood Policy countries. This article explores the question of refugee quota trading, explaining why current EU policy fails to increase refugee protection. Throughout the critique, states are treated either as rational actors or actors with present-preference bias, the latter largely ignored in current discussions on international refugee ‘burden sharing’. In addition, the ethics of refugee quota trading is presented using arguments distinct from that of Anker et al. (1998 who argue that refugee quota trading creates a ‘commodification’ of refugees. One could argue that refugees’ protection is being commodified, not refugees themselves. However, when states are provided funds not to deport refugees, this can be a type of reward for not taking an action that states ought to follow regardless of the reward. Just as there are non-utilitarian reasons not to rely on rewards alone for lowering the crime rates for heinous crimes within states, there may be non-utilitarian arguments against refugee quota trading.

Competitiveness and linking of emission trading systems

Energy Technology Data Exchange (ETDEWEB)

Hausotter, Tobias; Steuwer, Sibyl; Taenzler, Dennis [adelphi, Berlin (Germany)

2011-01-15

The establishment of emission trading systems raises concerns among industries regarding international competitive disadvantages for the industries under an emissions cap. This study aims to assess competitiveness exposure of industrial sectors and presents policy measures to address these concerns. Moreover, the study provides a comparison of different existing approaches to competitiveness concerns proposed by regional emission trading systems. (orig.)

Ex-ante evaluation of EU ETS during 2013–2030: EU-internal abatement

International Nuclear Information System (INIS)

Hu, Jing; Crijns-Graus, Wina; Lam, Long; Gilbert, Alyssa

2015-01-01

This study investigates CO 2 emission reduction within the EU resulting from the Emissions Trading Scheme (ETS) up to 2030. This is performed by constructing a baseline scenario without the ETS and assessing the impacts of the ETS, as currently designed. The results indicate that the ETS will start to impact emissions primarily after 2025 due to the prevalence of a sizable allowance surplus. The impact of approved (i.e. back-loading and 2.2% linear reduction factor (LRF)) and proposed (i.e. market stability reserve (MSR)) policy interventions and the inclusion of aviation, could accelerate the exhaustion of surplus and increase emission reductions during the investigated period. However, these measures would be insufficient to restore the scarcity of allowances and the corresponding carbon price before the start of ETS Phase IV, and the effectiveness of EU-internal abatement cannot be guaranteed until 2023. The effectiveness could be further reduced in the case of the economic shocks or the exclusion of international aviation. To restore the scarcity of allowances, other reform options are necessary. This paper extends the reasoning for the early removal of the back-loaded 900 Mtonne allowances by 2020 and broadening the scope of ETS to other sectors with potential high demand for allowances. - Highlights: • Quantification of CO 2 emission abatement in the EU resulting from the ETS up to 2030. • The impact of policy interventions and the inclusion of aviation is quantified. • The effectiveness of EU ETS in EU-internal abatement is limited until 2023

The Political Economy of International Emissions Trading Scheme Choice

DEFF Research Database (Denmark)

Boom, Jan-Tjeerd; Svendsen, Jan Tinggard

2000-01-01

The Kyoto Protocol allows emission trade between the Annex B countries. We consider three schemes of emissions trading: government trading, permit trading and credit trading. The schemes are compared in a public choice setting focusing on group size and rent-seeking from interest groups. We find ...

A portrait of trading firms in the services sectors: Comparable evidence from four EU countries

OpenAIRE

Haller, Stefanie A.; Damijan, Jože; Kaitila, Ville; Kostevc, Črt; Maliranta, Mika; Milet, Emmanuel; Mirza, Daniel; Rojec, Matija

2012-01-01

We establish a set of stylised facts for trade and trading firms in five market services sectors using comparable firm-level and services data from four EU countries. Our analysis shows that exports account for much lower shares of overall sales in the services sectors than in manufacturing. In line with this there are also fewer firms engaged in trade in the services sectors than in manufacturing; trade intensities, in turn, vary by services sector and country. Trade by services firms is som...

Etude Climat no. 42 'Power sector in Phase 2 of the EU ETS: fewer CO2 emissions, but just as much coal'

International Nuclear Information System (INIS)

Berghmans, Nicolas; Alberola, Emilie

2013-01-01

Among the publications of CDC Climat Research, 'Climate Reports' offer in-depth analyses on a given subject. This issue addresses the following points: Since 2005, 1,453 power and combined heat and power (CHP) generation plants have participated in the European Union Emission Trading Scheme, or EU ETS, which requires them to comply with an annual CO 2 emission cap set by the European Commission. Thermal power plants that use coal (bituminous coal, lignite, and other kinds of coal) and natural gas as their primary fuel jointly account for 86% of the generation capacity included in the EU ETS. There are twice as many gas-fired power plants as coal-fired ones, with 671 gas-fired power plants compared with 352 coal-fired ones

New Commitment Options: Compatibility with Emissions Trading

Energy Technology Data Exchange (ETDEWEB)

NONE

2006-07-01

This paper considers different options for quantitative greenhouse gas emission commitments from the standpoint of their technical compatibility with emissions trading. These are dynamic targets, binding targets with price caps, non-binding targets, sector-wide targets/mechanisms, action targets, allowances and endowments, and long-term permits. This paper considers these options from the standpoint of their compatibility with emissions trading.

Review Existing and Proposed Emissions Trading Systems

Energy Technology Data Exchange (ETDEWEB)

NONE

2010-07-01

This paper reviews key design features of mandatory emissions trading systems that had been established or were under consideration in 2010, with a particular focus on implications for the energy sector. Putting a price on greenhouse gas emissions is a cornerstone policy in climate change mitigation. To this end, many countries have implemented or are developing domestic emissions trading systems.

The coal question that emissions trading has not answered

International Nuclear Information System (INIS)

Pearse, Rebecca

2016-01-01

Can emissions trading assist with the task of placing a limit on coal production and consumption in Australia? This paper outlines a critical political economy perspective on coal and a flagship ‘market mechanism’ for emissions reduction. The prospects for an effective emissions trading scheme in coal-dominated economies are considered in light of its theoretical justifications as well as recent attempts to price carbon in Australia. Emissions trading is a weak instrument that does not address real-world failures of coal governance. At their theoretical best, carbon prices produce marginal changes to the cost structure of production. In practice, the Australian case demonstrates emissions trading is an attempt to displace the emissions reduction task away from coal, through compensation arrangements and offsetting. In light of the urgent need to rapidly reduce global emissions, direct regulation and democratisation of coal production and consumption should be flagship climate policy. - Highlights: • Emissions trading schemes (ETS) are weak instruments for placing a limit on coal. • Pre-existing failures of coal governance cannot be addressed by emissions trading. • Considerable transfers of public wealth to coal companies occurred as part of the Australian ETS. • Carbon offset arrangements spatially displace responsibility for reducing emissions away from coal.

The impact of the EU ETS on prices, profits and emissions in the power sector. Simulation results with the COMPETES model

International Nuclear Information System (INIS)

Lise, W.; Sijm, J.; Hobbs, B.F.

2009-06-01

This paper analyses the impact of the EU Emissions Trading Scheme (ETS) on electricity wholesale in 20 European countries. The analyses show that the costs of (freely allocated) CO2 emission allowances are nearly fully passed through to power prices, which also depend on the structure of the power market, i.e., the incidence of market power, and the price responsiveness of power demand. Finally, the analyses show that internalization and pass-through of carbon costs are needed to reduce CO2 emissions by both changing the mix of power generation technologies and lowering total electricity demand

The impact of the EU ETS on prices, profits and emissions in the power sector. Simulation results with the COMPETES model

Energy Technology Data Exchange (ETDEWEB)

Lise, W. [IBS Research and Consultancy, Istanbul (Turkey); Sijm, J. [ECN Policy Studies, Petten (Netherlands); Hobbs, B.F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, Maryland (United States)

2009-06-15

This paper analyses the impact of the EU Emissions Trading Scheme (ETS) on electricity wholesale in 20 European countries. The analyses show that the costs of (freely allocated) CO2 emission allowances are nearly fully passed through to power prices, which also depend on the structure of the power market, i.e., the incidence of market power, and the price responsiveness of power demand. Finally, the analyses show that internalization and pass-through of carbon costs are needed to reduce CO2 emissions by both changing the mix of power generation technologies and lowering total electricity demand.

Hitting emissions targets with (statistical) confidence in multi-instrument Emissions Trading Schemes

International Nuclear Information System (INIS)

Shipworth, David

2003-12-01

A means of assessing, monitoring and controlling aggregate emissions from multi-instrument Emissions Trading Schemes is proposed. The approach allows contributions from different instruments with different forms of emissions targets to be integrated. Where Emissions Trading Schemes are helping to meet specific national targets, the approach allows the entry requirements of new participants to be calculated and set at a level that will achieve these targets. The approach is multi-levelled, and may be extended downwards to support pooling of participants within instruments, or upwards to embed Emissions Trading Schemes within a wider suite of policies and measures with hard and soft targets. Aggregate emissions from each instrument are treated stochastically. Emissions from the scheme as a whole are then the joint probability distribution formed by integrating the emissions from its instruments. Because a Bayesian approach is adopted, qualitative and semi-qualitative data from expert opinion can be used where quantitative data is not currently available, or is incomplete. This approach helps government retain sufficient control over emissions trading scheme targets to allow them to meet their emissions reduction obligations, while minimising the need for retrospectively adjusting existing participants' conditions of entry. This maintains participant confidence, while providing the necessary policy levers for good governance

International Emissions Trading : Design and Political Acceptability

NARCIS (Netherlands)

Boom, Jan Tjeerd

2006-01-01

This thesis discusses the design and political acceptability of international emissions trading. It is shown that there are several designs options for emissions trading at the national level that have a different impact on output and thereby related factors such as employment and consumer prices.

Reduction emissions from transport sector - EU action against climate change

Science.gov (United States)

2009-08-01

This paper explores and discusses the initiation and development of the EU's policies and strategies against climate change and the share experiences in the EU transport sector to reduce CO2 emission.

FDI and Intra-industry Trade in the Automotive Industry in the New EU Member States

Directory of Open Access Journals (Sweden)

Ambroziak Łukasz

2016-12-01

Full Text Available This paper investigates the extent to which foreign direct investment (FDI influenced intra-industry trade (IIT in automotive products in six New EU Member States (the Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia in the 1995–2014 period. Changes in IIT intensity are analysed using the Grubel-Lloyd indices. To examine the IIT pattern, IIT indices are divided into two types of trade: IIT in vertically differentiated products (low and high quality VIIT and IIT in horizontally differentiated products (HIIT. The research indicates that IIT in automotive products allowed manufacturers and consumers from the new EU Member States to benefit more from international trade. FDI inflow to the automotive sector of the NMS has been a key factor shaping IIT in automotive products.

Emissions trading stalls

International Nuclear Information System (INIS)

Milne, R.

1998-01-01

A brief article examines prospects for emission trading of greenhouse gas emissions in the UK. Topics covered include a checklist of principles for any trading system, plans for oil companies to do it internally, the possibility for carbon sinks as well as emissions and developments around the world. (UK) alt. Directly northward of the Sigsbee Escarpment, there is a relatively thin, low-velocity zone known as a ''gumbo zone''. Here two other pressure compartments are proposed. The origin of them is two-fold. First, initial sedimentation consists of pelagic clay draped over oceanic and transitional crust. Later, as the continental margin progrades nearer sedimentation becomes hemipelagic and coarser as gravity-driven sediments predominate. Secondly, as the salt wedge overrides a given spot of the basement, it is possible to develop a shear couple between the migrating salt and the stationary basement. The resultant shear (the site of the next strike-slip fault) may change pressures beneath the salt such that the shear may create two pressure compartments. The differences between the two compartments may be accentuated by lithologic changes caused by depositional mechanisms. (author)

Trade Union Practices in the EU and Latvia: Experience for Eastern Partnership Countries

Directory of Open Access Journals (Sweden)

Stacenko Sergejs

2014-10-01

Full Text Available The article will show major dimensions in the experience of EU Member States that could be shared with the Eastern Partnership (EaP countries. The framework of the study is the EU concept of trade unions in social dialogue and social partnership in the public sector. This study outlines the concept of social dialogue as a core element of industrial relations and will focus on industrial relations specifically in the public sector.

CO2 emission trade from a fiscal perspective

International Nuclear Information System (INIS)

Klaassen, F.A.H.; Derksen, R.T.; Keijel, J.J.C.

2004-06-01

The report gives answers to questions as 'are CO2 emission permits assets or supplies?'; how to deal with forward contracts and options in CO2 emission permits 'fiscal-wise'; and 'which are the consequences of CO2 emissions trade for the rebate of pre-taxes?' Als attention is paid to trading system for NOx emission [nl

Scenarios for the use of GHG-reduction instruments - how can policy-instruments as carbon emission trading and tradable green certificates be used simultaneously to reach a common GHG-reduction target?

International Nuclear Information System (INIS)

Morthorst, P.E.

2000-01-01

According to the agreed burden sharing in the EU, a number of member states have to reduce their emissions of greenhouse gases substantially. To achieve these reductions various policy-instruments - national as well as international - are on hand. Two international instruments are emphasized in this paper: tradable quotas for limiting carbon emissions and tradable green certificates for promoting the deployment of renewable energy technologies. In the analyses of these two instruments two main questions are considered: (1) Will there be any international trade in green certificates, if no GHG-credits are attached to them? (2) Will it make any difference if the EU sets the targets to be achieved by the two instruments or alternatively the individual member countries do? An incentive-analysis in which four scenarios are set up and discussed is performed for the EU member states. The main conclusion is that if no GHG-credits are attached to the green certificates there seems to be limited of no incentives for a permanent international trade in certificates. On the other hand, if GHG-credits are attached to the certificates an efficient international trade will take place regardless of whether the EU or the member countries fix the quotas. Thus, the use of international instruments as tradable green certificates and tradable emissions permits will not lead to an optimal GHG-reduction strategy unless GHG-credits are attached to the certificates. (author)

An emissions trading regime for Canada

International Nuclear Information System (INIS)

Smith, S.L.

2001-01-01

In 1998, over twelve papers were published on emissions trading regimes in Canada by the National Round Table on the Environment and the Economy (NRTEE), a federal government agency whose members represent stakeholders as varied as business, environmental groups, academics, aboriginal groups and others. One of the recommendations that emerged was for the computer modelling of the possibilities that had been identified for a domestic trading regime in Canada for greenhouse gases. It is unclear whether the modelling was ever performed as the file was taken over by the Finance Department under the umbrella of a special emission trading table that examined Canada's commitment under the Kyoto Protocol. The author examined questions pertaining to whether a domestic trading regime is essential, and what its characteristics should be in case it was deemed essential or advisable to have one. The upstream versus downstream application was looked at, as well as grand-fathering versus auction. Provincial issues were then addressed, followed by meshing with a credit system. International systems were reviewed. Early action was discussed, whereby an emitter seeks credit for action taken toward reductions since the original reference year of 1990. The case of emitters having bought or sold permits since the original reference years will also want those trades recognized under a trading regime. The author indicated that it seems probable that an emission trading system will eventually be implemented and that a debate on the issue should be initiated early

UV light induced red emission in Eu3+-doped zincborophosphate glasses

Science.gov (United States)

Hima Bindu, S.; Siva Raju, D.; Vinay Krishna, V.; Rajavardhana Rao, T.; Veerabrahmam, K.; Linga Raju, Ch.

2016-12-01

This paper reports the preparation of transparent zincborophosphate (ZBP) glasses doped with Eu3+ ions by the conventional melt quenching technique. The prepared glasses were characterized using powder XRD, FTIR, optical absorption, photoluminescence and decay curves. Judd-Ofelt (JO) intensity parameters calculated under various constraints using absorption and emission spectra. These JO intensity parameters have been used to predict the radiative properties such as radiative life time, branching ratios and stimulated emission cross section of the 5D0→7FJ (J = 0-4) transitions. Decay curves for the 5D0 level of Eu3+ ions shows single exponential for all concentrations. Luminescence properties of 5D0→7F2 transitions of Eu3+ions have revealed that the present ZBP:Eu3+ glasses have significant in optical applications at around 613 nm. An intense red luminescence has been observed due to 5D0→7F2 transition of Eu3+ ion in these glasses. From the CIE color coordinate diagram, it is observed that the present glass system is prominent material for red emission.

Guidance to regulations on trade with emission permits for carbon dioxide; Vaegledning till lagstiftning om handel med utslaeppsraetter foer koldioxid

Energy Technology Data Exchange (ETDEWEB)

2008-07-15

This guidance is intended to facilitate application of the rules on emissions trading. The guidance is principally concerned with issues relating to permit appraisal and monitoring, but also discusses some terms common to permits and allocations, such as installation and operator. The guidance follows the same structure as the Swedish Environmental Protection Agency regulations (NFS 2007:5) in order to provide direct support for the rules. The focus is on providing a general description of the responsibilities of the operator and application of the rules. In addition, some difficult terms and relationships are explained. However, no exhaustive description of the operator's responsibilities is given, nor are the rules on verification described. We therefore recommend that the guidance should be read in conjunction with the Trading Act, the Trading Ordinance and the Swedish Environmental Protection Agency regulations. The first chapter presents a brief description of the purpose of the trading scheme, and is followed by a chapter in which the rules on applying for permits and the application procedure are reviewed. The next chapter gives a description of how the operator should monitor emissions and how the rules for the monitoring plan work, as well as the options that exist for simplified monitoring. The next chapter looks at notifications the operator might have to make and what they should contain. Guidance is also provided on how the county administrative board should process these notifications. The conditions of the permit decision are also briefly described. This is followed by a short chapter on the emissions report and the materiality threshold. The final chapter comments on certain parts of the annexes to the regulations. The EU Emissions Trading Directive has been implemented in Sweden through the Emissions Trading Act (2004:1199) (the Trading Act), the Emissions Trading Ordinance (2004:1205), the Swedish Environmental Protection Agency regulations

The evolution of the EU external trade policy in services - CETA, TTIP, and TiSA after Brexit

NARCIS (Netherlands)

Delimatsis, Panagiotis

2017-01-01

The conclusion of the Transatlantic Trade and Investment Partnership (TTIP) constitutes a priority and key component of the external trade policy of the European Union (EU). It is also an immediate follow-up to several years of regulatory cooperation between the two global trade powers. In an era of

The liability rules under international GHG emissions trading

International Nuclear Information System (INIS)

Zhong Xiang Zhang

2001-01-01

Article 17 of the Kyoto Protocol authorizes emissions trading, but the rules governing emissions trading have been deferred to subsequent conferences. In designing and implementing an international greenhouse gas (GHG) emissions trading scheme, assigning liability rules has been considered to be one of the most challenging issues. In general, a seller-beware liability works well in a strong enforcement environment. In the Kyoto Protocol, however, it may not always work. By contrast, a buyer-beware liability could be an effective deterrent to non-compliance, but the costs of imposing it are expected to be very high. To strike a middle ground, we suggest a combination of preventive measures with strong but feasible end-of-period punishments to ensure compliance with the Kyoto emissions commitments. Such measures aim to maximize efficiency gains from emissions trading and at the same time, to minimize over-selling risks. (author)

Bi-lateral CO_2 emissions embodied in Australia–China trade

International Nuclear Information System (INIS)

Jayanthakumaran, Kankesu; Liu, Ying

2016-01-01

This paper quantifies the CO_2 emissions embodied in bi-lateral trade between Australia and China using a sectoral input–output model. The results revealed: (1) that China performs lower than Australia in clean technology in the primary, manufacturing, energy sectors due to their overuse of coal and inefficient sectoral production processes, and (2) that China had a 30.94 Mt surplus of bi-lateral CO_2 emissions in 2010–2011 and (3) overall global emissions were reduced by 20.19 Mt through Australia–China trade in 2010–2011. The result indicates that the greater the energy efficient a country among the trading partners the lower will be the overall global CO_2 emissions. Global emissions decreased mainly because China consumed Australian primary products rather than producing them. Australia is an energy efficient producer of primary products relative to China. The bilateral trade compositions and trade volume played an important role in lowering global emissions and therefore one can view proposed China Australia Free trade Agreement positively in reducing global emissions. However, for the sustainable development, China should strengthen clean energy use and both countries should adopt measures to create an emission trading scheme in order to avoid protectionism in the form of future border price adjustments. - Highlights: •Primary (Australia) and manufactured (China) exports are a unique combination. •Quantifies CO_2 emissions embodied in bi-lateral trade between Australia and China. •Global emissions reduce because China consume Australian primary. •Australia is energy efficient producer of primary products relative to China. •Results support more trade with appropriate trade composition and volume.

Greenhouse gas emission accounting for EU member states from 1991 to 2012

International Nuclear Information System (INIS)

Su, Meirong; Pauleit, Stephan; Yin, Xuemei; Zheng, Ying; Chen, Shaoqing; Xu, Chao

2016-01-01

Highlights: • GHG emissions for the EU28 during 1991–2012 are accounted. • The EU28 are classified into four groups based on GHG emission structure. • It can facilitate classified management of GHG emissions. • The EU case shows the common but differentiated principle in emission reduction. - Abstract: Collectively, the EU is among the world’s largest greenhouse gas (GHG) emitters, though remarkable decreases in GHG emissions have been observed in recent years. In this work the GHG emissions for the 28 EU member states between 1991 and 2012 are accounted for and compared according to the inventory method of the Intergovernmental Panel on Climate Change (IPCC). The structure of GHG emissions at a national level, their distribution between countries, and trends across the period are then analyzed. National emission sources and sinks are decomposed for each country to elucidate the contribution of each sector (energy, industrial processes, solvents and other product use, agriculture, land use/land-use change and forestry, and waste) to the national totals. Germany was the largest emitter, with net emissions totaling 939 Tg CO_2 equivalent in 2012, 60% more than the UK and 89% more than France, the second and third biggest emitters, respectively. The energy sector and agriculture were found to be the largest sources of emissions in most countries. Four quadrants were established to compare countries’ performance in emission intensity, carbon removal rate, and net reduction rate of GHG emissions. Slovenia, Portugal, Sweden, and Finland were located in Quadrant II as they displayed relatively low emission intensities and high carbon removal rates. Conversely, Hungary, Greece, Cyprus, the Czech Republic, and Poland were located in Quadrant IV because of their relatively high emission intensities and low carbon removal rates. Some suggestions for integrating the annual results and the trends both within and among countries into national and regional emissions

The feasibility of domestic CO2 emissions trading in Poland

International Nuclear Information System (INIS)

Missfeldt, F.; Hauff, J.

2000-09-01

refineries, and with them the growing CO 2 emissions from transport, seem possible. Such a pilot program would allow firms and the policy maker to gather relevant experiences for the possible future introduction of a comprehensive system and for the emerging international emissions trading system. To determine whether a pilot system is desirable, however, an extensive and comparative analysis of different climate protection policy options is still needed for Poland. It should include a close look at the implications of EU climate protection policies and the effects of the liberalization of international electricity markets on domestic policy options. (au)

Swedish biomass strategies to reduce CO{sub 2} emission and oil use in an EU context

Energy Technology Data Exchange (ETDEWEB)

Joelsson, Jonas [Ecotechnology and Environmental Science, Mid Sweden University, SE-831 25 Oestersund (Sweden); Gustavsson, Leif [Linnaeus University, SE-351 95 Vaexjoe (Sweden)

2012-07-15

Swedish energy strategies for transportation, space heating and pulp industries were evaluated with a focus on bioenergy use. The aims were to 1) study trade-offs between reductions in CO{sub 2} emission and oil use and between Swedish reductions and EU reductions, 2) compare the potential contributions of individual reduction measures, 3) quantify the total CO{sub 2} emission and oil use reduction potentials. Swedish energy efficiency measures reduced EU CO{sub 2} emission by 45-59 Mt CO{sub 2}/a, at current biomass use and constant oil use. Doubling Swedish bioenergy use yielded an additional 40 Mt CO{sub 2}/a reduction. Oil use could be reduced, but 36-81 kt of reductions in CO{sub 2} emission would be lost per PJ of oil use reduction. Swedish fossil fuel use within the studied sectors could be nearly eliminated. The expansion of district heating and cogeneration of heat with a high electricity yield were important measures. Plug-in hybrid electric cars reduced CO{sub 2} emission compared with conventional cars, and the difference was larger with increasing oil scarcity. The introduction of black liquor gasification in pulp mills also gave large CO{sub 2} emission reduction. Motor fuel from biomass was found to be a feasible option when coal is the marginal fuel for fossil motor fuel production. -- Highlights: Black-Right-Pointing-Pointer Bioenergy is compared to optimized fossil fuel use under different oil availability constraints. Black-Right-Pointing-Pointer Swedish strategies are evaluated with respect to CO{sub 2} emission and oil use reduction within Sweden and the EU. Black-Right-Pointing-Pointer Efficiency measures give the largest reductions but increased bioenergy use is also important. Black-Right-Pointing-Pointer District heating expansion, high electricity yield CHP, increased vehicle efficiency and PHEVs are important options. Black-Right-Pointing-Pointer The studied sectors in Sweden could become nearly fossil-fuel free and yield an energy

Opportunities of Trade in Services between the EU and Ukraine: the Case of Telecommunications Services under the GATS and the Association Agreement

DEFF Research Database (Denmark)

Batura, Olga; Kretova, Olga A.

This working paper studies the legal and regulatory conditions for trade in ser- vices between the European Union (EU) and Ukraine on the example of tele- communications services that are important carrier services for various busi- ness activities in the cross-border trade. The paper outlines...... the general frame- work for trade in services under the GATS as expressed in the commitments undertaken by Ukraine and examines the detailed provisions of the EU- Ukraine Association Agreement on trade liberalisation and regulatory approx- imation that is a WTO-extra agreement. It also provides an overview...... – the internal mar- ket treatment – is difficult to reach due to unclear and complicated rules on regulatory approximation. Key words: EU, Ukraine, trade in services, telecommunications services, liber- alisation, regulatory approximation...

Emission trading in Europe with an exchange rate

International Nuclear Information System (INIS)

Klassen, G.A.J.; Amann, M.; Foersund, F.R.

1994-01-01

The analytical and empirical properties of a new method for emission trading according to a fixed exchange rate are explored. The exchange rate is based on the ratios of the marginal costs of abatement in the optimal solution in order to account for the impact of the location of emission sources on the deposition. It is shown that, generally, this system will not achieve the optimal solution and does not guarantee that environmental deposition constraints are not violated, although total abatement costs are always reduced. A routine was developed to mimic trading as a bilateral, sequential process, subject to an exchange rate. Use has been made of an adapted version of the optimization module in the RAINS (REgional Acidification INformation and Simulation) model. In the example used, results for SO 2 emissions in Europe show that, starting from a uniform reduction, exchange-rate trading achieves higher cost savings than one-to-one trading, without achieving the cost minimum. Sulfur deposition targets are not violated since the initial emission allocation overfulfilled targets at many places. The results are sensitive to: pre-trade emission levels, the transaction costs, the availability of information on potential cost savings and assumptions made on the behavior of trading partners. 6 figs., 3 tabs., 28 refs

Proposed EU-India free trade agreement could impede manufacture of generic HIV drugs.

Science.gov (United States)

Chu, Sandra Ka Hon

2011-04-01

Medical experts are warning that an international trade agreement being brokered between the European Union (EU) and India could greatly restrict the access of people living with HIV in the developing world to life-saving antiretroviral medication.

Ontario emissions trading code : emission reduction credit creation, recording and transfer rules, rules for renewable energy projects and conservation projects, and rules for the operation of the Ontario Emissions Trading Registry

International Nuclear Information System (INIS)

2001-12-01

Emissions trading has been an integral part of Ontario's air quality strategy since December 31, 2001. Ontario has adopted the 'cap, credit and trade' type of emissions trading system, a hybrid that takes the best features of pure 'cap-and-trade' and 'baseline-and-credit' type systems. It covers nitric oxide and sulphur dioxide. The Ontario Emissions Trading Code supplements Ontario Regulation 397/01 and sets out rules for renewable energy projects and conservation projects for which applications for emission allowances can be made. This Code describes the rules for the creation and transfer of emission reduction credits (ERCs). It also explains the rules for the operation of the registry that has been established to provide information to the public about the emissions trading program and records decisions about credit creation and credit and allowance retirement. 3 tabs

Emissions trading and the negotiation of pollution credits

Energy Technology Data Exchange (ETDEWEB)

Black A.J.

2000-07-01

A new market is emerging based on greenhouse gas emissions and the trading of pollution credits. While the structure of the primary market is being planned, many businesses are already positioning themselves in the nascent secondary market. This trend is based on corporate 'realpolitik' a recognition that tougher environmental regulation is inevitable. But the development of an emissions trading regime is lagging behind commercial reality. This article examines the state of play in the development of a market for carbon emissions trading.

Point Climat no. 16 'Applying MiFID to the EU ETS: what are the implications?'

International Nuclear Information System (INIS)

Patay, Magali; Alberola, Emilie

2012-01-01

Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: The European Union is moving ahead with a proposal to regulate trading in carbon assets under the revised Markets in Financial Instruments Directive (MiFID). This would mean that all trading in such assets, from the European Union Emissions Trading System (EU ETS) to international carbon credits from Kyoto project-based mechanisms eligible for the EU ETS would be covered by the existing EU regulatory framework for financial markets. Allowance spot and derivative markets are set to be supervised by a single oversight authority, and the MiFID and Market Abuse Directive will apply. While this will bring benefits in terms of improved security, transparency and protections for market participants in the carbon market, future challenges for the EU ETS will involve the proper coordination of MiFID with the Auctioning Regulation, and ensuring that the ad hoc treatment of emission allowances is maintained within the MiFID legislation

[Emissions trading potential : achieving emission reductions in a cost-effective manner

International Nuclear Information System (INIS)

Fay, K.

1998-01-01

The issue of emissions trading as a viable tool to reduce greenhouse gas emissions by developed countries was discussed. The essence of this author's argument was that emissions trading alone will not solve the climate change problem and that the details of the program are hazy at best. In order to have any hope of meeting the emission reductions, it is essential to begin working out the details now, and to coordinate them with the Clean Development Mechanism (CDM) and Joint Implementation (JI) plan since all three of these flexibility mechanisms will be working in and among themselves, therefore they need to be consistent. Work on a general set of draft principles by the International Climate Change Partnership (ICCP), a coalition headquartered in Washington, DC, was summarized. Essentially, ICCP favors voluntary programs, incentives for participation, no quantitative limits on trading, no limits on sources and sinks. ICCP believes that trading should be allowed at the company level, and liability should not devolve on the buyer alone, rather, it should be negotiated between buyers and sellers. Credits for early action should also be tradable and most of all, the trading program should be simple to allow active participation by industry, and be free of bureaucratic impediments

EU policy seminar. The Commission's 2008 climate action and renewable energy package. Options for flexibility regarding the emissions trading scheme and renewable energy proposals. Overview paper

International Nuclear Information System (INIS)

Van Schaik, L.; Van Kampen, E.

2008-02-01

This paper accompanies the seminar on the Commission's '08 climate action and renewable energy package. The seminar, and hence this paper, focuses on two of the legislative proposals that the package consists of, namely the revision of the EU Emissions Trading Scheme and the directive on the promotion of Renewable Energy. The purpose of this paper is to provide a clear overview of these two proposals. Its purpose is, furthermore, to provide the seminar with a clear focus. This is achieved by means of the inclusion of sections on flexibility in each proposal and the posing of issues for discussion. The objective is to analyse whether the market-based mechanism, as chosen policy instrument, and the way targets are set in the proposals allow for sufficient flexibility in achieving the targets. This refers to whether they can be expected to lead to cost-effective reductions, and whether the target-setting is perceived as fair and accommodating to economic growth projections. Important in this respect, is whether the proposals accommodate the emission reduction and renewable energy potential, as well as the investment capabilities of member states

Blue emission of Eu{sup 2+}-doped translucent alumina

Energy Technology Data Exchange (ETDEWEB)

Yang, Yan [Kazuo Inamori School of Engineering, New York State College of Ceramics, Alfred University, Alfred, NY 14802 (United States); Wei, Hua [Scintillation Materials Research Center, University of Tennessee, Knoxville 37996 (United States); Zhang, Lihua; Kisslinger, Kim [Center for Functional Nanomaterials, Brookhaven National Laboratory, Upton, NY 11973-5000 (United States); Melcher, Charles L. [Scintillation Materials Research Center, University of Tennessee, Knoxville 37996 (United States); Wu, Yiquan, E-mail: wuy@alfred.edu [Kazuo Inamori School of Engineering, New York State College of Ceramics, Alfred University, Alfred, NY 14802 (United States)

2015-12-15

Inorganic scintillators are very important in medical and industrial measuring systems in the detection and measurement of ionizing radiation. In addition to Ce{sup 3+}, a widely used dopant ion in oxide scintillators, divalent Europium (Eu{sup 2+}) has shown promise as a high-luminescence, fast-response luminescence center useful in the detection of ionizing radiation. In this research, aluminum oxide (Al{sub 2}O{sub 3}) was studied as a host material for the divalent europium ion. Polycrystalline samples of Eu{sup 2+}-doped translucent Al{sub 2}O{sub 3} were fabricated, and room temperature luminescence behavior was observed. Al{sub 2}O{sub 3} ceramics doped with 0.1 at% Eu{sup 2+} were fabricated with a relative density of 99.75% theoretical density and in-line transmittance of 22% at a wavelength of 800 nm. The ceramics were processed by a gel-casting method, followed by sintering under high vacuum. The gelling agent, a copolymer of isobutylene and maleic anhydride, is marketed under the commercial name ISOBAM, and has the advantage of simultaneously acting as both a gelling agent and as a dispersant. The microstructure and composition of the vacuum-sintered Eu{sup 2+}:Al{sub 2}O{sub 3} were characterized by Scanning Electric Microscopy (SEM), Transmission Electron Microscopy (TEM), and Energy-dispersive X-ray spectroscopy (EDS). The phase composition was determined by X-ray diffraction measurements (XRD) combined with Rietveld analysis. The photoluminescence behavior of the Eu{sup 2+}:Al{sub 2}O{sub 3} was characterized using UV light as the excitation source, which emitted blue emission at 440 nm. The radio-luminescence of Eu{sup 2+}:Al{sub 2}O{sub 3} was investigated by illumination with X-ray radiation, showing three emission bands at 376 nm, 575 nm and 698 nm. Multiple level traps at different depths were detected in the Eu{sup 2+}:Al{sub 2}O{sub 3} by employing thermoluminescence measurements. - Highlights: • Eu{sup 2+} : Al{sub 2}O{sub 3} was

Free allocations in EU ETS Phase 3: The impact of emissions performance benchmarking for carbon-intensive industry - Working Paper No. 2013-14

International Nuclear Information System (INIS)

Lecourt, S.; Palliere, C.; Sartor, O.

2013-02-01

From Phase 3 (2013-20) of the European Union Emissions Trading Scheme, carbon-intensive industrial emitters will receive free allocations based on harmonised, EU-wide benchmarks. This paper analyses the impacts of these new rules on allocations to key energy-intensive sectors across Europe. It explores an original dataset that combines recent data from the National Implementing Measures of 20 EU Member States with the Community Independent Transaction Log and other EU documents. The analysis reveals that free allocations to benchmarked sectors will be reduced significantly compared to Phase 2 (2008-12). This reduction should both increase public revenues from carbon auctions and has the potential to enhance the economic efficiency of the carbon market. The analysis also shows that changes in allocation vary mostly across installations within countries, raising the possibility that the carbon-cost competitiveness impacts may be more intense within rather than across countries. Lastly, the analysis finds evidence that the new benchmarking rules will, as intended, reward installations with better emissions performance and will improve harmonisation of free allocations in the EU ETS by reducing differences in allocation levels across countries with similar carbon intensities of production. (authors)

Influence of trade on national CO2 emissions

International Nuclear Information System (INIS)

Munksgaard, Jesper; Pade, Lise-Lotte; Minx, Jan; Lenzen, Manfred

2005-01-01

International trade has an impact on national CO 2 emissions and consequently on the ability to fulfil national CO 2 reduction targets. Through goods and services traded in a globally interdependent world, the consumption in each country is linked to greenhouse gas emissions in other countries. It has been argued that in order to achieve equitable reduction targets, international trade has to be taken into account when assessing nations' responsibility for abating climate change. Especially for open economies such as Denmark, greenhouse gases embodied in internationally traded commodities can have a considerable influence on the national 'greenhouse gas responsibility'. By using input-output modelling, we analyse the influence from international trade on national CO 2 emissions. The aim is to show that trade is the key to define CO 2 responsibility on a macroeconomic level and that imports should be founded in a multi-region model approach. Finally, the paper concludes on the need to consider the impact from foreign trade when negotiating reduction targets and base line scenarios. (Author)

Korea's emission trading scheme and policy design issues to achieve market-efficiency and abatement targets

International Nuclear Information System (INIS)

Park, Hojeong; Hong, Won Kyung

2014-01-01

In 2008, the government of Republic of Korea (Korea) announced the national abatement target aiming at 30% reductions from the Business-as-Usual projections by 2020. Accordingly, the Emission Trading Scheme (ETS) will be implemented from 2015 onwards. As ETS performance substantially depends on the structural design, it is critically important to examine the details of Korean ETS for the achievement of cost effectiveness and concurrent development of an active emission trading market. This paper addresses several policy design issues for this purpose. After providing an overview on the current framework of Korean ETS, we propose ways to achieve flexibility, consistency and market efficiency of the program in consideration of the preexisting policies. Issues in policy design are discussed by focusing on allowance allocation, market stabilization measures and price mechanism in the emission and energy markets in Korea. This paper will serve as a practical guideline for establishing sustainable and market-efficient Korean ETS that can be compatible with the international standards as in the EU ETS. - Highlights: • Emission Trading Scheme (ETS) will be implemented from 2015 in Korea to reduce CO 2 . • ETS performance substantially depends on structural design. • We provide policy overview on the current framework of Korean ETS. • Several policy design issues are discussed for developing policy consistency. • We focus on allowance allocation, allowance reserve and market stabilization measures

FY 2000 report on the survey on global warming prevention measures in main E.U. countries; 2000 nendo EU shuyokoku ni okeru ondanka boshi taisaku no gaiyo ni tsuite hokokusho

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-03-01

This report dealt with the background of energy policies in E.U. countries and energy plans. At COP3, E.U. countries internationally gave a pledge that they will reduce the emission of greenhouse effect gas 8% from that as of 1990 during 2008-2012, which is stricter than those given by Japan and the U.S. Actually, the European Commission made public 'Toward the European Climate Change Programme' and 'Green Paper on Emissions Trading in the E.U.' These are correspondent to E.U.' global warming preventive strategy which is called the twin track approach by the European Commission. The former is a frame for coordinating individual reduction measures taken under the responsibility of member countries as the whole E.U. As to the latter, for the specified sectors from energy supply sectors to large energy consumption industries, it was planned to be started in 2005. And, the basic policy on the trade and concrete subjects/problems on the trading system were arranged. (NEDO)

Emissions trading and the climate change levy

International Nuclear Information System (INIS)

Connett, Richard

2000-01-01

This paper discusses the flexible mechanisms established in the Kyoto Protocol of the UN Framework on Climate Change focussing on the mechanism whereby countries achieving their target for reducing the emissions of greenhouse gases can trade their excess to countries having difficulty achieving their target. UK measures to meet their commitment, the UK government's proposed climate change levy on the use of energy, negotiated agreements, emissions trading, and the nature, supply and trading of permits are examined. Compatibility with international agreements and the Integrated Pollution Prevention and Control (IPPC) Directive, monitoring, and penalties are considered

Tuning Eu"3"+ emission in europium sesquioxide films by changing the crystalline phase

International Nuclear Information System (INIS)

Mariscal, A.; Quesada, A.; Camps, I.; Palomares, F.J.; Fernández, J.F.; Serna, R.

2016-01-01

Highlights: • PLD production of high quality europium sesquioxide (Eu_2O_3) films. • The deposition of Al_2O_3 capping and/or buffer layers modifies the crystallization for Eu_2O_3 films upon annealing. • The formation of cubic or monoclinic phases can be favored. • Eu"3"+ emission tuning is achieved as a consequence of crystal field effects. - Abstract: We report the growth of europium sesquioxide (Eu_2O_3) thin films by pulsed laser deposition (PLD) in vacuum at room temperature from a pure Eu_2O_3 ceramic bulk target. The films were deposited in different configurations formed by adding capping and/or buffer layers of amorphous aluminum oxide (a-Al_2O_3). The optical properties, refractive index and extinction coefficient of the as deposited Eu_2O_3 layers were obtained. X-ray photoelectron spectroscopy (XPS) measurements were done to assess its chemical composition. Post-deposition annealing was performed at 500 °C and 850 °C in air in order to achieve the formation of crystalline films and to accomplish photoluminescence emission. According to the analysis of X-ray diffraction (XRD) spectra, cubic and monoclinic phases were formed. It is found that the relative amount of the phases is related to the different film configurations, showing that the control over the crystallization phase can be realized by adequately designing the structures. All the films showed photoluminescence emission peaks (under excitation at 355 nm) that are attributed to the intra 4f-transitions of Eu"3"+ ions. The emission spectral shape depends on the crystalline phase of the Eu_2O_3 layer. Specifically, changes in the hypersensitive "5D_0 → "7F_2 emission confirm the strong influence of the crystal field effect on the Eu"3"+ energy levels.

Frameworks for comparing emissions associated with production, consumption, and international trade.

Science.gov (United States)

Kanemoto, Keiichiro; Lenzen, Manfred; Peters, Glen P; Moran, Daniel D; Geschke, Arne

2012-01-03

While the problem of climate change is being perceived as increasingly urgent, decision-makers struggle to agree on the distribution of responsibility across countries. In particular, representatives from countries hosting emissions-intensive exporting industries have argued that the importers of emissions-intensive goods should bear the responsibility, and ensuing penalties. Indeed, international trade and carbon leakage appear to play an increasingly important role in the carbon emissions debate. However, definitions of quantities describing the embodiment of carbon emissions in internationally traded products, and their measurement, have to be sufficiently robust before being able to underpin global policy. In this paper we critically examine a number of emissions accounting concepts, examine whether the ensuing carbon balances are compatible with monetary trade balances, discuss their different interpretations, and highlight implications for policy. In particular, we compare the emissions embodied in bilateral trade (EEBT) method which considers total trade flows with domestic emission intensities, with the multi-regional input-output (MRIO) method which considers trade only into final consumption with global emission intensities. If consumption-based emissions of different countries were to be compared, we would suggest an MRIO approach because of the global emissions coverage inherent in this method. If trade-adjusted emission inventories were to be compared, we would suggest an EEBT approach due to the consistency with a monetary trade balance.

Suitability of non-energy GHGs for emissions trading

International Nuclear Information System (INIS)

Haites, E.; Proestos, A.

2000-01-01

This paper assesses the suitability of different sources of non-energy greenhouse gases for emissions trading. Different forms of emissions trading are defined and criteria for determining whether a source is suitable for emissions trading are proposed. The suitability for emissions trading is assessed for: methane (CH4) from oil and gas production; CH4 from coal mines; CH4 from landfills; CH4 from wastewater treatment; CH4 from enteric fermentation; CH4 from livestock manure, nitrous oxide (N2O) from adipic acid production; N2O from fertilizer use; N2O from nitric acid production, carbon dioxide (CO2) and perfluorocarbons (PFCs) from aluminum smelting; sulphur hexafluoride (SF6) from magnesium smelting and die casting; HFCs from HCFC production, other uses of SF6, PFCs and hydrofluorocarbons (HFCs); CO2 from ammonia production; lime and cement production, and iron ore reduction

NOx emissions trading: Precursor to future growth

International Nuclear Information System (INIS)

Colella, A.

1993-01-01

Title I of the Clean Air Act Amendments (CAAA) of 1990 specified the framework for enhanced regulation in ozone non-attainment areas with increasingly stringent requirements dependent on the area classification - marginal, moderate, serious, severe or extreme. Before the CAAA were passed, only volatile organic compounds (VOCs) were regulated as precursors to ozone formation, Now, by statute, emissions of nitrogen oxides (NO x ) are also regulated as ozone precursor. Under the CAAA, new sources and modifications of existing sources are subject to Title I permitting requirements in ozone non-attainment areas if emissions of NO x and/or VOCs exceed certain triggering levels. For many new or facility expansion projects, especially power generation, the NO x thresholds are easily exceeded thus triggering Title I non-attainment new source review which requires application of control technology to new equipment which results in the Lowest Achievable Emission Rate (LAER), and securing emission reductions either internally or from other major sources to offset the increased emission from the new or modified source. The selection of a LAER technology is generally within an applicant's control. An applicant can determine up-front the engineering and cost considerations associated with LAER technology is assessing a project's viability. However, without a clear source of emission offsets of a means to secure them, assessing project viability could be difficult if not impossible. No available emission offsets means no industrial growth. For sources of NO x undergoing Title I new source review, a regional or state banking system that facilitates NO x emissions trading is needed as a precursor to future growth. This paper presents an overview of EPA's Emissions Trading Policy and Title I new source review offset provisions. Industry's concerns about emissions trading and recommendations for future trading programs are presented

Systems for carbon trading. An overview

International Nuclear Information System (INIS)

Hasselknippe, Henrik

2003-12-01

This paper focuses on the increasing number of regional, national and international systems for trading and transfer of greenhouse gas emission allowances and emission reduction credits. The paper will serve as a platform for further discussions on the development of the international carbon trading market. The analysis builds on the International Emissions Trading Association (IETA) Trading Schemes Database, which has been developed by Point Carbon, covering all known trading schemes and programs. A full overview of all existing trading schemes and proposals is presented, showing inter alia the outreach and judicial nature of the systems, the range and nature of emission reduction or credit purchase targets, allocation methods used, links to external systems, and possibilities for the use of project-based credits. A comparative assessment is performed on a number of design criteria, allowing for conclusions to be drawn on the level of harmonisation of these systems, and the identification of convergence or divergence of important operational features. The systems covered in the analysis display considerable variation when it comes to key design criteria and functionality. A rapid integration of many of the planned and active systems seems likely following the agreement on the EU emissions trading scheme, and will be further accelerated if the Kyoto Protocol is ratified

Developing Benchmarking Criteria for CO2 Emissions

Energy Technology Data Exchange (ETDEWEB)

Neelis, M.; Worrell, E.; Mueller, N.; Angelini, T. [Ecofys, Utrecht (Netherlands); Cremer, C.; Schleich, J.; Eichhammer, W. [The Fraunhofer Institute for Systems and Innovation research, Karlsruhe (Germany)

2009-02-15

A European Union (EU) wide greenhouse gas (GHG) allowance trading scheme (EU ETS) was implemented in the EU in 2005. In the first two trading periods of the scheme (running up to 2012), free allocation based on historical emissions was the main methodology for allocation of allowances to existing installations. For the third trading period (2013 - 2020), the European Commission proposed in January 2008 a more important role of auctioning of allowances rather then free allocation. (Transitional) free allocation of allowances to industrial sectors will be determined via harmonized allocation rules, where feasible based on benchmarking. In general terms, a benchmark based method allocates allowances based on a certain amount of emissions per unit of productive output (i.e. the benchmark). This study aims to derive criteria for an allocation methodology for the EU Emission Trading Scheme based on benchmarking for the period 2013 - 2020. To test the feasibility of the criteria, we apply them to four example product groups: iron and steel, pulp and paper, lime and glass. The basis for this study is the Commission proposal for a revised ETS directive put forward on 23 January 2008 and does not take into account any changes to this proposal in the co-decision procedure that resulted in the adoption of the Energy and Climate change package in December 2008.

Greenhouse gas emissions trading and project-based mechanisms. Proceedings - CATEP

Energy Technology Data Exchange (ETDEWEB)

NONE

2004-01-01

Greenhouse gas emissions trading and project-based mechanisms for greenhouse gas reduction are emerging market-based instruments for climate change policy. This book presents a selection of papers from an international workshop co-sponsored by the OECD and Concerted Action on Tradeable Emissions Permits (CATEP), to discuss key research and policy issues relating to the design and implementation of these instruments. The papers cover the experience of developing and transition countries with greenhouse gas emissions trading and project-based mechanisms. In addition, the papers examine the use of tradeable permits in policy mixes and harmonisation of emissions trading schemes, as well as transition issues relating to greenhouse gas emissions trading markets.

Japanese Consumption Tax with Regard to Cross-Border Service Trading : A Comparison with EU-Type Value Added Taxes

OpenAIRE

細木, 宏和; ホソキ, ヒロカズ; Hirokazu, HOSOKI

2011-01-01

This paper examines a tax jurisdiction issue of the consumption tax system with regard to Japanese service trading. The Destination principle for service trading has not been established in Japanese consumption tax, but taxation at the place of consumption is gradually being adopted for value-added taxes in the EU. Under these circumstances, it is necessary for us to revise the Japanese consumption tax system in favor of taxation at the place of consumption, using EU-type value-added tax syst...

The timeline of trading frictions in the European carbon market

International Nuclear Information System (INIS)

Medina, Vicente; Pardo, Ángel; Pascual, Roberto

2014-01-01

During its trial phase (Phase I), the EU Greenhouse Gas Emission Trading Scheme (EU-ETS) collapsed because of an over-allocation of emission allowances. We evaluate the progress of this market from the trial phase to the next commitment period (Phase II) from a microstructure angle. We show that trading frictions, as measured by the relative spread, information-asymmetry risk, and market-making profits decreased from Phase I to Phase II. Although volatility decreased, its noise-related component gained in importance at the expense of its information-related component, resulting in lower quality of the price changes. - Highlights: • We compare Phases I and II of the EU-ETS from a microstructure angle. • Phase II shows lower spreads, information-asymmetry risk and market making profits. • The contribution of noise to the volatility of prices increased during Phase II

Emissions trading in transition economies: the link between international and domestic policy

International Nuclear Information System (INIS)

Evans, M.

2003-01-01

International emissions trading has the potential to significantly lower carbon mitigation costs and to promote environmentally friendly investment in transition economies. The design of domestic systems to complement international emissions trading will likely play a major role in emissions trading's effectiveness. This paper examines the benefits and challenges of proposed domestic systems and the related flows of emissions trading revenue in seller nations. The overwhelming majority of emissions available for sale will come from transition economies, which is why this article considers these countries as a group. Governments in countries such as Russia and Poland are interested in the potentially significant revenue they would reap from emissions trading, and some in those governments feel the money would best be used as general revenue for the government. Others argue that emissions trading should involve the private sector and other emitters in order to provide maximum incentives to reduce emissions and generate additional emissions trading revenue (the rules for international emissions trading explicitly allow this). Still others feel that special carbon mitigation funds would allow the government to maintain control yet stimulate additional emission reductions. Each policy contains its own set of challenges: stimulating further emission reductions, credibly monitoring emissions and emission reductions, or applying adequate fiscal accounting to the money flows

EU ETS Allocation. Evaluation of present system and options beyond 2012

Energy Technology Data Exchange (ETDEWEB)

Sijm, J.P.M. (ed.) [ECN Policy Studies, Petten (Netherlands); Berk, M.M.; Den Elzen, M.G.J.; Van den Wijngaart, R.A. [Netherlands Environmental Assessment Agency NMP, Bilthoven (Netherlands)

2007-03-15

This study assesses various options for EU (European Union) burden sharing and EU ETS (Emissions Trading System) allocation beyond 2012, based on a sample of policy evaluation criteria and a review of the literature on (1) international and EU burden sharing of future GHG mitigation commitments, and (2) allocation of GHG emission allowances among countries, sectors and emitting installations. It shows that these options score differently with regard to a variety of individual evaluation criteria (such as environmental effectiveness, economic efficiency, social equity or political acceptability), while the overall performance of these options depends on both the selection, interpretation, weighing and adding of these criteria.

Revisiting Ricardo: Can productivity differences explain the pattern of trade between EU countries?

OpenAIRE

Beine, Michel

2009-01-01

In this paper we revise the empirical tests of the Ricardian model by testing properly the Ricardian hypotheses on bilateral trade flows. Our tests are based on NACE 2-digit industry aggregation of productivity and of bilateral trade flows between 21 EU member states for the period 1994-2004. We compare the matchings between relative bilateral sectoral productivity rankings and bilateral sectoral exports-to-imports ratio rankings for each of 21 x 20 country pairs. We find that the Ricardian h...

Prospects for the EU-US Trade Relations in the Light of the TTIP

Directory of Open Access Journals (Sweden)

Ružeková Viera

2016-12-01

Full Text Available To success on international markets, individual economies are trying to take measures to increase their efficiency, flexibility and competitiveness. There is a liberalization of tariff and non-tariff barriers mainly due to trade based on regional integration. Among such agreements belong also the Transatlantic Trade and Investment Partnership (TTIP between the EU and the USA, which represent the largest economies in the world. The paper analyses developed scientific studies that assess the economic impact, advantages and disadvantages of closer economic cooperation. However, it reflects not only the economic but also foreign policy importance of this partnership. In the case of signing the TTIP, it would become the most important bilateral trade agreement ever, both in terms of international trade as well as in terms of the impact on international trade as a whole.

Trading CO2 emission; Verhandelbaarheid van CO2-emissies

Energy Technology Data Exchange (ETDEWEB)

De Waal, J.F.; Looijenga, A.; Moor, R.; Wissema, E.W.J. [Afdeling Energie, Ministerie van VROM, The Hague (Netherlands)

2000-06-01

Systems for CO2-emission trading can take many shapes as developments in Europe show. European developments for emission trading tend to comprehend cap and-trade systems for large emission sources. In the Netherlands a different policy is in preparation. A trading system for sheltered sectors with an option to buy reductions from exposed sectors will be further developed by a Commission, appointed by the minister of environment. Exposed sectors are committed to belong to the top of the world on the area of energy-efficiency. The authors point out that a cap on the distribution of energy carriers natural gas, electricity and fuel seems to be an interesting option to shape the trade scheme. A cap on the distribution of electricity is desirable, but not easy to implement. The possible success of the system depends partly on an experiment with emission reductions. 10 refs.

Unilateral emission reductions of the EU and multilateral emission reductions of the developed countries. Assessing the impact on Finland with TIMES model

International Nuclear Information System (INIS)

Ekholm, T.; Lehtilae, A.; Savolainen, I.

2008-03-01

This report assesses the impact of the unilateral greenhouse gas emission reductions proposed by the EU on the structure of European and Finnish energy systems with TIMES models. The two models used are techno-economical energy system models including an extensive description of technologies on energy production and consumption. The models derive the sectoral energy demand from given economic projections and calculate the optimal way of satisfying the energy demand through market equilibrium. The basis for EU wide calculations was the Common POLES-IMAGE economic scenarios which project a GDP growth of 2.4 % p.a. until 2020. A sensitivity analysis was conducted with a lower economic growth projection. The results indicated that a reduction of 20 % compared to 1990 emission levels by 2020 would lead to most reductions being conducted at the electricity sector. The consumption of coal in electricity generation would decrease considerably. In the long term some of the natural gas based production would incorporate carbon capture and storage (CCS), and the use of wind power would grow substantially. The value of carbon would lie at levels around 20 to 30 euro/t CO 2 by 2020 were the reductions carried out without flexibility mechanisms. With a reduction target of -30 % by 2050, the value of carbon would rise to 40 . 50 euro/t CO 2 by 2050, and nearly to 100 euro/t CO 2 with a target of -60 % in 2050. The calculations on Finland were based on economic projections by the Ministry of Finance and the Government Institute of Economic Research. The scenarios asses the optimal way of reducing Finnish emissions with a range of prices for emission rights between 20 and 50 euro/t CO 2 . The sectors not included in the emission trading scheme were assumed to conduct reductions with costs up to the value of emission rights. The use of coal was reduced after 2010, accompanied by an increase in the use of natural gas. The utilization of bioenergy increases considerable in the total

The feasibility of domestic CO{sub 2} emissions trading in Poland

Energy Technology Data Exchange (ETDEWEB)

Missfeldt, F. [ed.; Hauff, J.

2000-10-01

component to include oil refineries, and with them the growing CO{sub 2} emissions from transport, seem possible. Such a pilot program would allow firms and the policy maker to gather relevant experiences for the possible future introduction of a comprehensive system and for the emerging international emissions trading system. To determine whether a pilot system is desirable, however, an extensive and comparative analysis of different climate protection policy options is still needed for Poland. It should include a close look at the implications of EU climate protection policies and the effects of the liberalization of international electricity markets on domestic policy options. (au)

Tradeable CO2 emission permits. A quantitative analysis of a TEP system between Annex I countries

International Nuclear Information System (INIS)

Koutstaal, P.R.; Kram, T.; Van Rooijen, S.N.M.

1997-11-01

Tradeable emission permits can be a cost-effective way to achieve emission reductions between countries or firms. In this study, the role of trading CO 2 emission permits between the Annex I countries of the FCCC is analysed. It is assumed that only countries are allowed to trade and that there is a perfect market without transaction costs and strategic behaviour. For several cases, the consequences for abatement costs, before and after trade, the volume of permits traded and emissions per capita are studied. Moreover, the gains from trade are determined. This study was undertaken before the Kyoto conference, therefore as a starting point for the different cases it was assumed that all countries should reduce their emissions with 10%. The cases studied are: a flat rate of 10% for each country; the differentiated EU distribution combined with a 10% reduction for the other OECD countries; and the so-called Triptych approach applied to all OECD countries. Two trading systems are considered, one covering only the OECD countries and one which also covers Middle and Eastern European countries (in a simplified way). Furthermore, two extreme cases are studied for the OECD trading scheme: equal costs (after trade) per unit of GNP and equal emission per capita (before trade). Tradeable emission permits will considerably reduce total costs compared with no trade by about 50%. The EU will considerably reduce total costs compared with no trade by about 50%. The EU will be a net exporter of permits in an OECD trading scheme (without Middle and Eastern Europe), mainly because the low costs possibilities for reduction of CO 2 emissions in Germany and the United Kingdom. 13 refs

Great expectations. Can international emissions trading deliver an equitable climate regime?

International Nuclear Information System (INIS)

Baumert, Kevin A.; Perkaus, James F.; Kete, Nancy

2003-01-01

Climate change equity debates tend to focus on achieving a fair and global 'allocation' of emission rights among countries. Allocation proposals typically envision, if implicitly, two purposes for international emissions trading. First, trading is expected to serve as a cost-effective means of promoting compliance with emissions targets. Second, trading is posited as a means to generate financial transfers, typically from industrialized to transitioning and developing countries. This article investigates the common assumption that international emissions trading will effectively serve both of these purposes. We conclude that the two purposes might not be mutually supportive, and that efforts to use international emissions trading as a financial transfer mechanism may potentially undermine cost-effectiveness goals. International emissions trading on a global scale would create new risks in terms of both cost-effectiveness and environmental performance, some of which will be challenging to manage. In particular, uncertainties over market prices and trading eligibility, coupled with the costs of participation, may together be the Achilles heel of some allocation proposals that entail large financial transfers from industrialized to developing countries. Any proposal for an 'equitable' allocation of emission allowances, we conclude, must be cognizant of the risks and costs implied by a reliance on international emissions trading. We offer some suggestions to this end

EUROPEAN EMISSION TRADING SCHEME AT A TURNING POINT – FROM THE PILOT PHASE TO POST-2012

Directory of Open Access Journals (Sweden)

Aura Carmen Slate

2011-09-01

Full Text Available Climate change action has become a top priority for the European governments and for the European Union. Since the polluters are part of the energy-intensive industries, the mechanisms designed to reduce greenhouse gas emissions should focus on the economic sector as a primary source of concern. Therefore, environmental issues interrelate with the economic ones and one viable expression of this relation is the EU ETS, a cap-and-trade mechanism. The ETS started with a pilot phase in year 2005 and will continue with a third phase after 2012, period which coincides with the end of Kyoto’s commitment. Although statistical data prove that the EU ETS is becoming more efficient with each phase, in the absence of global involvement the efforts invested in the scheme will be made in vain.

Integration of marine transport into the European Emissions Trading System. Environmental, economic and legal analysis of different options

Energy Technology Data Exchange (ETDEWEB)

Baeuerle, Tim [Rechtsanwaelte Zimmermann - Gretz - Trautmann - Baeuerle, Heidelberg (Germany); Graichen, Jakob; Meyer, Kristin; Seum, Stefan [Oeko-Institut e.V., Berlin (Germany); Kulessa, Margareta [Mainz Univ. of Applied Sciences (Germany); Oschinski, Matthias

2010-05-15

Marine vessels globally contribute to carbon dioxide emissions with approximately 3.3% (IMO 2009). Interna-tional ocean shipping has been growing significantly over recent years. To date international marine emissions are not part of the Kyoto obligations and the member states at IMO have not implemented instruments that would have limited or reduced the amount of greenhouse gas emissions from ships. The European Union has announced that if no international agreement including reduction targets for seaborne emissions has been approved by the UNFCCC by December 31, 2011, the EC is tasked to submit a proposal for including international marine transport in Euro-pean reduction targets and policy measures. An inclusion of international marine transport in the European Emis-sions Trading Scheme (EU ETS) is a likely scenario. The study investigates three options for integrating international ocean shipping into the EU ETS based on: a last period; the last distance travelled and the distance the cargo has travelled. Basing the system on a last period is superior to basing it on last trip or cargo in terms of environmental effectiveness. However, the system would cover vessel activities in international waters, even potentially between two non-European ports, and thus the legal feasi-bility of this challenge is discussed. Another element of the study is the analysis of the economic effects of the inte-gration of international seaborne greenhouse gas emissions into the EU ETS. Overall it can be concluded that the integration of international ocean shipping into the EU ETS is a legally and technically feasible option with no significantly negative or even beneficial economic effects. The extension to vessel activity in international waters secures adequate coverage and environmental effectiveness. This extension to vessel activity in international waters is not only a prerequisite for adequate emissions coverage, but is also associated with the least legal obstacles, is

Study of atmospheric emission trading programs in the United States

International Nuclear Information System (INIS)

1991-01-01

A detailed review and evaluation was conducted of federal and state atmospheric emission trading programs in the USA to identify the factors critical to a successful program. A preliminary assessment was also made of the feasibility of such a program for NOx and volatile organic compounds (VOC) in the lower Fraser Valley in British Columbia. To date, experience in the USA with atmospheric emissions trading has primarily involved trades of emission reduction credits pursuant to the 1977 Clean Air Act amendments. Most trades occur under netting provisions which allow expansion of an existing plant without triggering the stringent new-source review process. Six case studies of emissions trading are described from jurisdictions in California, New Jersey, and Kentucky and from the national SO 2 allowance trading program. Estimates of cost savings achieved by emissions trading are provided, and factors critical to a successful program are summarized. These factors include clearly defined goals, participation proportional to problem contribution, an emissions inventory of satisfactory quality, a comprehensive permit system, a credible enforcement threat, efficient and predictable administration, location of the program in an economic growth area, and support by those affected by the program. In the Fraser Valley, it is concluded that either an emissions reduction credit or an allowance trading system is feasible for both NOx and VOC, and recommendations are given for implementation of such a program based on the factors determined above. 1 fig., 8 tabs

Per capita emissions of greenhouse gases and international trade

International Nuclear Information System (INIS)

Karman, D.; Baptiste, S.

1994-01-01

The role played by international trade in Canada's emissions of greenhouse gases is investigated. Data used in the study include Environment Canada greenhouse gas emission estimates for 1990, a Statistics Canada input-output model linking greenhouse gas emissions to economic activity in different sectors, and monetary statistics on imports and exports. Subject to some simplifying assumptions, it is estimated that nearly 20% of Canada's greenhouse gas emissions can be attributed to the production of commodities destined for export to other countries. If the same greenhouse gas emission intensities are assumed for Canada's imports, the greenhouse gas emissions due to Canada's net trade is nearly 7% of the 660 megatonnes of CO 2 equivalent emissions for 1990. Commodities from natural resource exploitation head the list of greenhouse gas emissions attributed to international trade, as expected from their large export volumes and large greenhouse gas emission intensities. 4 refs., 1 fig

Preparing for the emissions trading game

International Nuclear Information System (INIS)

Anon.

2001-01-01

Although the deadline (1 April 2001) for the introduction of the climate change levy (or UK greenhouse gas emissions trading scheme) is near, it is difficult to assess the likely impact of the legislation since some of the architecture and much of the detail have yet to be revealed. Meanwhile, there is a growing fear that emissions trading may work against the sectoral energy efficiency agreements and the risks and costs for individual companies are not clear. The views of the CBI are discussed in detail; it is apparently concerned that the DETR's proposals are incomplete in a number of respects and these are discussed. The subjects of grandfathering, outsourcing, electricity generation and plant closures receive special attention. Other aspects discussed are legal issues, sanctions and liability, trading and risks. Tim Denne of Oxera doubts that the UK scheme will achieve the hoped for level of trading. The scheme is likely to be a subject of boardroom debate for several years to come

The Best of Both Worlds? Free Trade in Services and EU Law on Privacy and Data Protection

NARCIS (Netherlands)

Yakovleva, S.; Irion, K.

2016-01-01

The article focuses on the interplay between European Union (EU) law on privacy and data protection and international trade law, in particular the General Agreement on Trade in Services (GATS) and the WTO dispute settlement system. The argument distinguishes between the effects of international

Environmental control policy change in the EU between ideas and reality; Umweltpolitischer Steuerungswechsel in der EU zwischen Ideen und Realitaet

Energy Technology Data Exchange (ETDEWEB)

Heumader, Katja

2014-07-01

The study on the environmental policy change in the EU covers the following issues: theoretical frame work: the scientific policy debate on political control and governance; boom of ideas: development in the discussion on European environmental policy; discrepancies: the change of political control between intention and realization; case studies: EU policy concerning the enhancement of energy efficiency, the groundwater guideline, waste policy and waste stream priorities, the European emission trading system, access to jurisdiction for environmental issues, the soil protection guideline.

Sectoral and regional expansion of emissions trading

Energy Technology Data Exchange (ETDEWEB)

Boehringer, Christoph; Bouwe, Dijkstra; Rosendahl, Knut Einar

2011-07-01

We consider an international emissions trading scheme with partial sectoral and regional coverage. Sectoral and regional expansion of the trading scheme is beneficial in aggregate, but not necessarily for individual countries. We simulate international CO{sub 2} emission quota markets using marginal abatement cost functions and the Copenhagen 2020 climate policy targets for selected countries that strategically allocate emissions in a bid to manipulate the quota price. Quota exporters and importers generally have conflicting interests about admitting more countries to the trading coalition, and our results indicate that some countries may lose substantially when the coalition expands in terms of new countries. For a given coalition, expanding sectoral coverage makes most countries better off, but some countries (notably the USA and Russia) may lose out due to loss of strategic advantages. In general, exporters tend to have stronger strategic power than importers.(Author)

Putting new economic geography to the test : Free-ness of trade and agglomeration in the EU regions

NARCIS (Netherlands)

Brakman, Steven; Garretsen, Harry; Schrannn, Marc; Schramm, M.

For the NUTS II EU regions we estimate the wage equation that is central to the new economic geography literature. Our first main finding is that a spatial wage structure exists for the EU regions. Next, we analyze what our estimations imply for the link between the free-ness of trade and

Impact of trade in emission reduction credits on solar projects

International Nuclear Information System (INIS)

Kulkarni, P.

1993-01-01

Since the amendment of the Clean Air Act in 1990, the possibility of trading in Emission Reduction Credits has been looked upon as a strategy for improving the economic feasibility of solar projects. This paper discusses developments towards such a market and reviews current and proposed emission trading practices. The paper analyzes how the current characteristics of the market help or hinder the trading of credits generated by solar projects, and suggests possible solutions. Emission credits from four different solar projects and their trading potentials are presented

CO{sub 2} emissions trading. A study on the conditions and necessities for starting national emissions trading; CO{sub 2} -paeaestoekauppa. Selvitys kansallisen paeaestoekaupan kaeyttoeoenoton edellytyksistae sekae siinae huomioitavista seikoista

Energy Technology Data Exchange (ETDEWEB)

Maeaettae, K.

2000-02-01

This study analyses the applicability of emissions trading as a means of steering climate policy. Attention is paid to limiting carbon dioxide emissions in particular at national level. The model used in the implementation of national CO{sub 2} emissions trading are the emissions trading schemes applied in the United States, especially the trading in sulphur dioxide allowances, included in their Acid Rain Programme. All schemes applied until now are studied in order to specify what kinds of hindrances there could be to the well-functioning of emissions trading and also to map out what kinds of institutional innovations have been developed in practice to improve emissions trading. This study excludes the joint implementation procedure and the clean development mechanism. In fact, international control related to climate policy has been left to minor attention in other respects, too. In addition to the subjects mentioned above, this study also describes the terminological and legal framework within which emissions trading is to be practised. In this connection, it has been considered necessary to deal with technical legislative details, since, as it has been stated in relation to emissions trading, 'the devil is likely to be in details'. Thus this study discusses, among others, issues pertaining to the construing of. the criterion for an emission quota, i.e. what is actually traded in emissions trading, how the emission quotas and rights can be used (e.g. the emission deposit and emission derivatives), what kinds of provisions should be laid down on eligibility to emissions trading or on who can participate in emissions trading, what should be the validity period of an emission right, what would be the most appropriate way to organise the administrative control of emissions trading, and what kinds of sanctions should be laid down for infringements related to emissions trading. This study has been carried out by examining mainly U.S. literature on this

Community system updating and extension concerning greenhouse gas emissions duties trading; Actualizacion y ampliacion del regimen comunitario de comercio de derechos de emision de gases de efecto invernadero

Energy Technology Data Exchange (ETDEWEB)

Arrieta-Langarika, I.

2010-07-01

Approving 29/2009/CE Directive, that amends Directive 2003/87/EC, relating to a trading system for allowances of greenhouse gas emissions in the Community, the European Union wants to improve this system, and, in that way, providing an appropriate tool for achieving the emissions reduction targets, set for 2020: in particular, reducing the emissions of carbon dioxide (CO{sub 2}) in a 20% compared to 1990 levels. Recognizing the virtues of this system as an innovative tool for reducing emissions, it should be harmonized through the use of common standards that ensure equal conditions of the facilities affected and their update, among others, increasing their scope and establishing a system of re-allocation to reduce emissions. At the same time, the regulation adopted by the EU should not address possible competition difficulties, that may arise for the industries affected by this emission trading system, more specifically, the problem of carbon leakage: the phenomenon refers to the risk that European industries must move outside the EU for not being able to cope with competition from other countries with less stringent limitations on this matter. In any case, the regime established by Directive 29/2009/CE is subject to possible changes in function of international countries might conclude. (Author) 8 refs.

Economic Effects of Russia’s Trade Liberalization: Russia’s WTO Accession and FTAs with EU and Korea

Directory of Open Access Journals (Sweden)

Chang-Soo Lee

2008-06-01

Full Text Available This paper estimates the economic impacts of the various liberalization scenarios of Russia (accession to the WTO, Russia-EU FTA, and Korea-Russia FTA using GTAP recursive dynamic and capital accumulation models. To compare liberalization gains from goods liberalization with those from goods-and-services liberalization, the original GTAP database is adjusted by inputting Australian sectoral indices as barriers in the service trade. The major findings and implications of this paper are as follows. First, without simultaneous improvement of market institutions, Russia's liberalization gains from its accession to the WTO are not so great. Second, the inclusion of the services sector in addition to the goods sector in the WTO liberalization scenarios does not greatly expand Russia's economic benefits from trade. This is quite different from the case of China's accession to the WTO. Third, Russia's liberalization gains from the Russia-EU FTA are not so great, either. This result is in contrast to that of CEEC's accession to the EU, where the CEEC enjoys large gaThis paper estimates the economic impacts of the various liberalization scenarios of Russia (accession to the WTO, Russia-EU FTA, and Korea-Russia FTA using GTAP recursive dynamic and capital accumulation models. To compare liberalization gains from goods liberalization with those from goods-and-services liberalization, the original GTAP database is adjusted by inputting Australian sectoral indices as barriers in the service trade. The major findings and implications of this paper are as follows. First, without simultaneous improvement of market institutions, Russia's liberalization gains from its accession to the WTO are not so great. Second, the inclusion of the services sector in addition to the goods sector in the WTO liberalization scenarios does not greatly expand Russia's economic benefits from trade. This is quite different from the case of China's accession to the WTO. Third, Russia

Emissions trading with and without a cap

International Nuclear Information System (INIS)

Nentjes, A.; Boom, J.T.

2000-01-01

The authors try to reduce the confusion about all the proposals for the design of flexibility mechanisms with respect to the Kyoto Protocol and following Conventions of Parties (CoP) by sketching consistent views of International Emission Trading (IET) and Joint Implementation (JI). It is argued that environmentalists should change their views since it is feasible to design international emission trading in a way that should make it the favourite instrument of environmental organizations

Growth in emission transfers via international trade from 1990 to 2008.

Science.gov (United States)

Peters, Glen P; Minx, Jan C; Weber, Christopher L; Edenhofer, Ottmar

2011-05-24

Despite the emergence of regional climate policies, growth in global CO(2) emissions has remained strong. From 1990 to 2008 CO(2) emissions in developed countries (defined as countries with emission-reduction commitments in the Kyoto Protocol, Annex B) have stabilized, but emissions in developing countries (non-Annex B) have doubled. Some studies suggest that the stabilization of emissions in developed countries was partially because of growing imports from developing countries. To quantify the growth in emission transfers via international trade, we developed a trade-linked global database for CO(2) emissions covering 113 countries and 57 economic sectors from 1990 to 2008. We find that the emissions from the production of traded goods and services have increased from 4.3 Gt CO(2) in 1990 (20% of global emissions) to 7.8 Gt CO(2) in 2008 (26%). Most developed countries have increased their consumption-based emissions faster than their territorial emissions, and non-energy-intensive manufacturing had a key role in the emission transfers. The net emission transfers via international trade from developing to developed countries increased from 0.4 Gt CO(2) in 1990 to 1.6 Gt CO(2) in 2008, which exceeds the Kyoto Protocol emission reductions. Our results indicate that international trade is a significant factor in explaining the change in emissions in many countries, from both a production and consumption perspective. We suggest that countries monitor emission transfers via international trade, in addition to territorial emissions, to ensure progress toward stabilization of global greenhouse gas emissions.

Imported palm oil for biofuels in the EU: Profitability, greenhouse gas emissions and social welfare effects

International Nuclear Information System (INIS)

Saikkonen, Liisa; Ollikainen, Markku; Lankoski, Jussi

2014-01-01

We examine the social desirability of renewable diesel production from imported palm oil in the EU when greenhouse gas emissions are taken into account. Using a partial market equilibrium model, we also study the sectoral social welfare effects of a biofuel policy consisting of a blend mandate in a small EU country (Finland), when palm oil based diesel is used to meet the mandated quota for biofuels. We develop a market equilibrium model for three cases: i) no biofuel policy, ii) biofuel policy consisting of socially optimal emission-based biofuel tax credit and iii) actual EU biofuel policy. Our results for the EU biofuel market, Southeast Asia and Finland show very little evidence that a large scale use of imported palm oil in diesel production in the EU can be justified by lower greenhouse gas emission costs. Cuts in emission costs may justify extensive production only if low or negative land-use change emissions result from oil palm cultivation and if the estimated per unit social costs of emissions are high. In contrast, the actual biofuel policies in the EU encourage the production of palm oil based diesel. Our results indicate that the sectoral social welfare effects of the actual biofuel policy in Finland may be negative and that if emissions decrease under actual biofuel policy, the emission abatement costs can be high regardless of the land use change emissions. - Highlights: • We study the social desirability of renewable diesel production from palm oil in EU. • We also study sectoral social welfare impacts of actual biofuel policy in Finland. • Life cycle GHG emission costs of diesels are included in the economic analysis. • Extensive use of palm oil diesel in EU is difficult to justify by climate benefits. • The social welfare effects of the actual biofuel policy in Finland can be negative

Strategic partitioning of emissions allowances in the EU ETS

Energy Technology Data Exchange (ETDEWEB)

Boehringer, Christoph (Carl von Ossietzky Univ. Oldenburg (Germany)); Rosendahl, Knut Einar (Research Dept., Statistics Norway, Oslo (Norway))

2008-07-01

The EU ETS opens up for strategic partitioning of emissions allowances by the Member States. In this paper we examine the potential effects of such strategic behavior on quota prices and abatement costs. We show that although marginal abatement costs in the sectors outside the EU ETS become quite differentiated, the effects on the quota price and total abatement costs are small. More abatement, however, takes place in the old Member States that are importers of allowances, compared to the cost-effective outcome. Single countries can nevertheless significantly affect the outcome of the EU ETS by exploiting their market power

Emission trading and Kyoto's protocol: discussions concerning rules and international coordination

International Nuclear Information System (INIS)

Baron, R.

2000-01-01

The Kyoto Protocol of the Climate Convention introduced the possibility to trade greenhouse gas emission reductions among industrialized countries, as a means to reduce the total cost of achieving the agreed emission goals. The rules for this international co-ordination regime are still debated, even if its principle is generally agreed. This article, written before the negotiation in the Hague, summarizes how the notion of emission trading made its way in the Framework Convention on Climate Change. The authors show what economic gains could realistically be expected from emission trading, based on macro-economic modelling results and a simulation of trading in the conditions of the Kyoto Protocol. They stress the critical contribution that emission trading could make, provided that the Protocol's environmental basis is not undermined. In the end, the negotiation collapsed over this issue. Beyond this near-term obstacle, the international emission trading system represents a significant progress towards an efficient resolution of man-made global climate change. (author)

From climate change to emissions trading : a briefing

International Nuclear Information System (INIS)

Marcu, A.

2002-01-01

Global warming is caused by the presence of greenhouse gases (GHGs) in the earth's atmosphere. These gases include, carbon dioxide, nitrous oxides, sulphur dioxide and methane. GHGs trap heat between the earth's atmosphere and the earth's surface to cause an overall warming trend of the Earth. The United Nations Framework Convention on Climate Change was established to address the issue of climate change and to determine the anthropogenic impact on climate change. Evidence from ice cores suggest that global warming has occurred in the past. The current state of global warming was examined by comparing the climate of today with that of the past. It was determined that the current global warming trend surpasses that of any ever observed in the past. The Kyoto Protocol was adopted in 1997 as a policy set to address the need for the world to reduce GHG emissions into the atmosphere. The Kyoto Protocol puts forth 3 sets of mechanisms to help businesses reduce GHG emissions. Emissions trading is one of them: it is a financial flexibility mechanism that allows businesses that have emitted more than their allowed share of GHGs to buy allowances from business that have emitted fewer GHGs than they were allowed. Emissions trading does not create reductions, however, it identifies the most economical solution to reduce GHGs. TransAlta, Ontario Power Generation and Suncor have conducted a few transactions to see how the market will work. There will be a global register to keep track of all assigned allowances. The paper described government action in addressing the climate change issue with reference to actions in the United Kingdom, Netherlands, Denmark and Switzerland. Canada has initiated the Greenhouse Gas Emission Reduction Trading Pilot (GERT) to test the effectiveness of emission reduction trading for GHGs in the Canadian context. GERT is a partnership between the federal government, some provinces, industry, labour and environmental groups. Ontario has established a

Emissions trading and competitiveness: pros and cons of relative and absolute schemes

International Nuclear Information System (INIS)

Kuik, Onno; Mulder, Machiel

2004-01-01

Emissions trading is a hot issue. At national as well as supranational levels, proposals for introduction of emissions trading schemes have been made. This paper assesses alternative emissions trading schemes at domestic level: (1) schemes where the total level of emissions is fixed (absolute cap-and-trade), (2) schemes where the allowable level of emissions per firm is related to some firm-specific indicator (relative cap-and-trade), and (3) mixed schemes which combine elements of the above alternatives. We present a quantitative assessment of these alternatives for climate change policy in the Netherlands. It is concluded that while relative cap-and-trade would avoid negative effects on competitiveness, it would not reduce emissions at the lowest costs. Besides, the addition of a trade system to existing relative standards does not result in additional emission reduction; it should be combined with other policy measures, such as energy taxes, in order to realise further reduction. Absolute cap-and-trade leads to efficient emissions reduction, but, implemented at the national level, its overall macroeconomic costs may be significant. The mixed scheme has as drawback that it treats firms unequal, which leads to high administrative costs. We conclude that none of the trading schemes is an advisable instrument for domestic climate policy

Reddish-orange, neutral and warm white emissions in Eu3+, Dy3+ and Dy3+/Eu3+ doped CdO-GeO2-TeO2 glasses

Science.gov (United States)

Rodríguez-Carvajal, David A.; Meza-Rocha, A. N.; Caldiño, U.; Lozada-Morales, R.; Álvarez, E.; Zayas, Ma. E.

2016-11-01

Eu3+, Dy3+ and Dy3+/Eu3+ doped CdO-GeO2-TeO2 glasses were prepared using the melt-quenching process and analyzed by X-diffraction, Raman spectroscopy, excitation and emission spectra, and emission decay time profiles. The lack of X ray diffraction peaks revealed that all samples are amorphous. Vibrational modes associated with Tesbnd Osbnd Te and Gesbnd Osbnd Ge related bonds and molecular oxygen were detected by Raman spectroscopy. The luminescence characteristics were studied upon excitations that correspond with the emission of InGaN (370-420 nm) based LEDs. The Eu3+ singly doped glass displayed reddish-orange global emission, with x = 0.601 and y = 0.349 CIE1931 chromaticity coordinates, upon 393 nm excitation. Neutral emission with x = 0.373 and y = 0.412 CIE1931 chromaticity coordinates and correlated color temperature (CCT) of 4400 K, was achieved in the Dy3+ singly doped glass excited at 388 nm. The Dy3+/Eu3+ co-doped glass exhibited warm, neutral and soft warm white emissions with CCT values of 3435, 4153 and 2740 K, under excitations at 382, 388 and 393 nm, respectively, depending mainly on the Dy3+ and Eu3+ relative excitation. The Dy3+ excitation bands observed in the Dy3+/Eu3+ glass by monitoring the 611 nm Eu3+ emission, suggest that Dy3+ → Eu3+ energy transfer takes place, despite the fact that the Dy3+ emission decays in the Dy3+ and Dy3+/Eu3+ doped glass, remain without changes. The shortening of Eu3+ decay in presence of Dy3+ was attributed to an Eu3+ → Dy3+ non-radiative energy transfer process, which according with the Inokuti-Hirayama model might be dominated through an electric quadrupole-quadrupole interaction, with efficiency and probability of 5.5% and 51.6 s-1, respectively.

Does trade matter for carbon emissions in OECD countries? Evidence from a new trade openness measure.

Science.gov (United States)

Gozgor, Giray

2017-12-01

This paper analyzes the impacts of the per capita income, the per capita energy consumption, and the trade openness on the level of per capita carbon emissions in the panel dataset of 35 Organization for Economic Cooperation and Development (OECD) countries over the period 1960-2013. Along with the nominal trade openness, the paper uses a different trade openness measure, so called as the "trade potential index" (TPI). To the best of our knowledge, this is the first paper that uses the TPI in the empirical environmental Kuznets curve (EKC) hypothesis literature. The paper finds that the EKC hypothesis is valid and there is an "inverted-U" relationship between the income and the carbon emissions. In addition, the paper observes that there is a positive effect of the energy consumption on the carbon emissions. Furthermore, the results indicate that both trade openness measures are negatively associated with the carbon emissions in the OECD countries in the long run.

Policy design and performance of emissions trading markets: an adaptive agent-based analysis.

Science.gov (United States)

Bing, Zhang; Qinqin, Yu; Jun, Bi

2010-08-01

Emissions trading is considered to be a cost-effective environmental economic instrument for pollution control. However, the pilot emissions trading programs in China have failed to bring remarkable success in the campaign for pollution control. The policy design of an emissions trading program is found to have a decisive impact on its performance. In this study, an artificial market for sulfur dioxide (SO2) emissions trading applying the agent-based model was constructed. The performance of the Jiangsu SO2 emissions trading market under different policy design scenario was also examined. Results show that the market efficiency of emissions trading is significantly affected by policy design and existing policies. China's coal-electricity price system is the principal factor influencing the performance of the SO2 emissions trading market. Transaction costs would also reduce market efficiency. In addition, current-level emissions discharge fee/tax and banking mechanisms do not distinctly affect policy performance. Thus, applying emissions trading in emission control in China should consider policy design and interaction with other existing policies.

Trade between the EU and Israeli Settlements: How Technical Arrangements add to Structural Injustice in the Supply Chain

Directory of Open Access Journals (Sweden)

Anas Audeh

2018-04-01

Full Text Available More than two decades ago, the EU upgraded its preferential trade with Israel. Many EU member states and European multinational companies violate the European Commission’s mandatory directives on excluding the Israeli settlements’ economy from the preferential treatment of free customs duties. This article argues that the settlements’ economy is correlated to a structural injustice in the supply chain, through the imposition of a coercive environment in the Occupied Palestinian Territories. Many European multinational companies trade in Israeli settlements and partially contribute to the structural injustice. The European Commission tackles the structural injustice by a framework of technical arrangements, but such a framework is unsuccessful due to the thoughtlessness and bad faith expressed by those actors linked to enterprises in the settlements, and due to the lack of normative standards and an operational framework of responsibility. This article challenges the longstanding argument in literature that the problem in the EU-Israeli settlements trade is not only a mere territorial and border dispute, using a mixed method of quantitative datasets and discourse analysis.

Emissions trading and green power : profitability for buyers and sellers

International Nuclear Information System (INIS)

Haites, E.

1998-01-01

Proposed features of the competitive electricity market in Ontario were reviewed. The speaker predicted that demand for renewable energy in Ontario's competitive electricity market will be affected by green power, emissions trading, labelling, and renewables portfolio standard. Under current regulations retailers can charge customers a premium for purchasing electricity generated by 'green' sources. The existing limits on emissions of sulphur dioxide, nitrogen oxides and carbon dioxides will remain in place, but an emissions cap and trading program for all Ontario-based generation is an option to consider. Ontario's Market Design Committee (MDC) has recommended the implementation of emissions trading for electricity-related air pollutants for all generators located in Ontario. The complex mechanics of emission trading are explained. The MDC recommendation of the use of standard labels to disclose the mix of energy sources used by sellers of electricity and their associated pollution emissions are also summarized

National Framework for GHG Emission Trading in Russia

International Nuclear Information System (INIS)

Kotov, V.; Nikitina, E.

2003-01-01

If Russia ratifies the Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC), domestic implementation of its international commitments under this international regime will require special national responses, i.e. institutional capacity building for application of its mechanisms. The Kyoto Protocol and its mechanisms, particularly, international emission trading (IET) and joint implementation (JI), mark a turning point, with opportunities for Russia to benefit from an economic and environmental standpoint from international cooperation. Russia might wish to sell to other parties a surplus in its assigned amount for the first commitment period in 2008-2012, as according to existing estimates its GHG emissions are expected to be below their 1990 base level. In order to participate in international emission trading, Russia has to meet several international requirements, including providing national inventory and reporting and establishing national registry compatible with the standard international format. It is to establish a domestic institutional regime defining laws and rules of behaviour for its participants, the administrative frameworks, and designing major schemes for domestic emission trading programme. Russia's emission trading system is not formed yet. This is a challenging innovation for Russia, as in its previous environmental management practices it did not have any experience in domestic emission trading with other air pollutants. The paper examines the key elements suggested in a number of existing proposals, assessments, and approaches of the government, parliamentarians and non-governmental experts for its institutional design which is at the core of ongoing climate policy debates in the country. These approaches and practical suggestions define the current state-of-the-art in domestic emission trading regime formation and channel the paths of its institutional development in the future. This paper analyses peculiarities

The European Emission Trading System and competition. Anticompetitive measures beyond reach? An assessment of the grandfathering allocation method and the Performance Standard Rate system

International Nuclear Information System (INIS)

Weishaar, S.

2006-10-01

The center piece of the European Climate Change Program is the ambitious Greenhouse Gas Emissions Trading Scheme (EU ETS, Directive 2003/87/EC) which helps Member States to fulfill their Kyoto commitments. It particularly facilitates the old EU 15 Member States to make progress towards meeting their particular greenhouse gas emissions reduction goals committed under the Burden Sharing Agreement. EU Member States have developed national greenhouse gas allowances allocation plans and distributed these allowances to around 5000 operators with approximately 12.000 installations. Differences between allocations can give rise to severe anticompetitive effects. Undue interventions by Member States are largely contained through the application of the four freedoms, while EC Competition law (Articles 81 and 82) is geared to the containment of competitive distortions arising in particular from undue behavior of firms. State involvement in infringements is addressed through Articles 87 (State aid) and 86 (public undertakings) and the 'joint application doctrine' (Articles 10(2), 3(g), 81 and 82) which was developed by the ECJ upon recognition that State measures can undermine the effectiveness of the EC Treaty. The paper examines how anticompetitive distortions originating from Member State action under National Allocation Plans in general and by application of (historical) grandfathering and the (hypothetical) Performance Standard Rate (PSR) allocation format in particular are dealt with under European competition law rules. The PSR System is a relative benchmark system with an intended cap for all participants but without a cap for individual operators. This alternative approach has been developed and is actually in use for the Dutch NOx Emission Trading System. An interdisciplinary industrial economic and competition law framework is chosen to formulate an economic critique. After the introductory part the anticompetitive effects originating in State measures are examined

Economic rationale for an emission allowance trading program

International Nuclear Information System (INIS)

Anon.

1992-01-01

The assumption behind the economic model of allowance trading is that managers of firms are better at solving pollution abatement problems than government overseers. This is because firms know more than an environmental regulator about their own operations and because the profit motive, rather than direct government mandate of compliance decisions, may be more effective at minimizing emission control costs. The allowance trading program in the CAAA is designed to provide firms with an incentive to make good choices about how to reduce emissions by allowing the firm to reduce compliance cost and profit from trading. This chapter discusses the benefits of allowance trading and summarizes the economic literature on tradable pollution rights. 17 refs., 2 figs

How to include farmers in the emission trading system?

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard

2011-01-01

The EU has committed itself to an ambitious 20 % reduction of greenhouse gases (GHG) by 2020 compared to the 1990 emissions level. Moreover, the EU goal beyond 2012 is to strengthen, expand and improve climate change initiatives. Therefore, there is a strong need to consider more carefully how...

Emissions trading in international aviation. Possible design options for an emissions trading scheme and their impact on climate change and the aviation industry

International Nuclear Information System (INIS)

Deuber, Odette; Cames, Martin

2003-01-01

According to the Intergovernmental Panel on Climate Change (IPCC), the contribution of aviation to global warm-ing was 3.5 % in 1992. Considering the average growth rate of 4 % per year, the share might be more than doubled by the end of the first commitment period of the Kyoto Protocol (2012). However, due to difficulties in allocating emissions from international aviation to individual countries, these emissions are exempt from commitments under the Kyoto Protocol, although in Article 2.2 the Parties to the Protocol are obliged to stabilize and reduce greenhouse gas emissions from international aviation. To comply with this obligation, the introduction of emissions trading in international aviation is being discussed within the International Civil Aviation Organisation (ICAO). This paper analyses the design options of such an emissions trading scheme and its impact on climate change and the aviation industry. Among other matters, it discusses issues such as open and closed emissions trading schemes, coverage of gases, initial allocation of allowances and possible caps for the aviation industry. It is based on a re-search project that has been carried out on behalf of the German Federal Environmental Agency. The paper reveals that despite complex tropospheric and stratospheric interactions, as well as allocation problems, there are adequate structural options for the design of an emissions trading scheme. Given an adequate structure, emissions trading offers a great incentive to optimise flight routes not only according to economic but also to climatic factors. Consequently, the system would effectively reduce the contribution of aviation to climate change

The emission trading E U system: Assessment and prospects

International Nuclear Information System (INIS)

Golini, G.

2008-01-01

The system of emission trading is a cap and trade mechanism aimed at reducing greenhouse gas emissions in an economically efficient way. It draws on Article 17 of the Kyoto Protocol and was established by directive 2003/87/CE amended by Directive 2004/101/EC. [it

Panorama 2016 - Overview of the refining industry in the European Union Emissions Trading System (EU ETS)

International Nuclear Information System (INIS)

Coussy, Paula; Jalard, Matthieu

2015-12-01

Since 2008, emissions from the refining sector have fallen by more than 12%, reaching 128 MtCO 2 e in 2014. Germany was the largest emitter of CO 2 e for the 2005- 2014 period. With Italy, Spain, the United Kingdom, France and the Netherlands, these six countries accounted for 71% of the industry's emissions in the EU ETS for 2014. During the 2008-2014 period, the European refining sector had a surplus of 74 MtCO 2 e, but since 2013 has had an annual deficit. Estimates show that the overall surplus of 74 MtCO 2 e should vanish by 2015. In the future, European demand for petroleum products will drop, and forecasts for crude processing are expected to decline. IFPEN estimates that, by 2035, this decline should reach 30%, leading to a 20% drop in the sector's emissions. Against this background, the amount of free allowances in the refining sector will fall, from 80% in 2014 to nearly 75% in 2020, leading to compliance costs for the European refining sector of approximately euro 600 million for 2020 alone, compared with the $6 billion needed for investment in Europe by 2035. Due to the great disparity in efficiency among European refineries (difference when compared with the benchmark), it is clear that it will be extremely costly for certain refineries to remain in operation. This will lead to the likely closure of refineries that are less efficient in terms of GHG emissions. (authors)

Virtual CO2 Emission Flows in the Global Electricity Trade Network.

Science.gov (United States)

Qu, Shen; Li, Yun; Liang, Sai; Yuan, Jiahai; Xu, Ming

2018-05-14

Quantifying greenhouse gas emissions due to electricity consumption is crucial for climate mitigation in the electric power sector. Current practices primarily use production-based emission factors to quantify emissions for electricity consumption, assuming production and consumption of electricity take place within the same region. The increasingly intensified cross-border electricity trade complicates the accounting for emissions of electricity consumption. This study employs a network approach to account for the flows in the whole electricity trade network to estimate CO 2 emissions of electricity consumption for 137 major countries/regions in 2014. Results show that in some countries, especially those in Europe and Southern Africa, the impacts of electricity trade on the estimation of emission factors and embodied emissions are significant. The changes made to emission factors by considering intergrid electricity trade can have significant implications for emission accounting and climate mitigation when multiplied by total electricity consumption of the corresponding countries/regions.

Trade-facilitated technology spillovers in energy productivity convergence processes across EU countries

International Nuclear Information System (INIS)

Wan, Jun; Baylis, Kathy; Mulder, Peter

2015-01-01

This empirical paper tests for trade-facilitated spillovers in the convergence of energy productivity across 16 European Union (EU) countries from 1995 to 2005. One might anticipate that by inducing specialization, trade limits the potential for convergence in energy productivity. Conversely, by inducing competition and knowledge diffusion, trade may spur sectors to greater energy productivity. Unlike most previous work on convergence, we explain productivity dynamics from cross-country interactions at a detailed sector level and apply a spatial panel data approach to explicitly account for trade-flow related spatial effects in the convergence analysis. Our study confirms the existence of convergence in manufacturing energy productivity, caused by efficiency improvements in lagging countries, while undermined by increasing international differences in sector structure. Further, we find that trade flows explain 30 to 40% of the unobserved variation in energy productivity. Trade continues to explain the unobserved variation in energy productivity even after accounting for geographic proximity. Last, we find that those countries and sectors with higher dependence on trade both have higher energy productivity growth and a higher rate of convergence, further implying that trade can enhance energy productivity. Thus, unlike concerns that trade may spur a ‘race to the bottom’, we find that promoting trade may help stimulate energy efficiency improvements across countries. - Highlights: • We test for trade-facilitated spillovers in cross-country energy productivity convergence. • We use a spatial panel-data approach and data for 16 European Union countries. • Efficiency improvements in lagging countries cause energy productivity convergence. • Trade flows explain 30 to 40% of unobserved variation in energy productivity. • Higher dependence on trade means higher rates of energy productivity growth

Tuning Eu{sup 3+} emission in europium sesquioxide films by changing the crystalline phase

Energy Technology Data Exchange (ETDEWEB)

Mariscal, A., E-mail: antonio.mariscal@csic.es [Laser Processing Group, Instituto de Óptica, CSIC, C/ Serrano 121, 28006 Madrid (Spain); Quesada, A. [Ceramics for Smart Systems Group, Instituto de Cerámica y Vidrio, C/ Kelsen 5, 28049 Madrid (Spain); Camps, I. [Laser Processing Group, Instituto de Óptica, CSIC, C/ Serrano 121, 28006 Madrid (Spain); Palomares, F.J. [Instituto de Ciencia de Materiales de Madrid, C/ Sor Juana Inés de la Cruz 3, 28049 Madrid (Spain); Fernández, J.F. [Ceramics for Smart Systems Group, Instituto de Cerámica y Vidrio, C/ Kelsen 5, 28049 Madrid (Spain); Serna, R. [Laser Processing Group, Instituto de Óptica, CSIC, C/ Serrano 121, 28006 Madrid (Spain)

2016-06-30

Highlights: • PLD production of high quality europium sesquioxide (Eu{sub 2}O{sub 3}) films. • The deposition of Al{sub 2}O{sub 3} capping and/or buffer layers modifies the crystallization for Eu{sub 2}O{sub 3} films upon annealing. • The formation of cubic or monoclinic phases can be favored. • Eu{sup 3+} emission tuning is achieved as a consequence of crystal field effects. - Abstract: We report the growth of europium sesquioxide (Eu{sub 2}O{sub 3}) thin films by pulsed laser deposition (PLD) in vacuum at room temperature from a pure Eu{sub 2}O{sub 3} ceramic bulk target. The films were deposited in different configurations formed by adding capping and/or buffer layers of amorphous aluminum oxide (a-Al{sub 2}O{sub 3}). The optical properties, refractive index and extinction coefficient of the as deposited Eu{sub 2}O{sub 3} layers were obtained. X-ray photoelectron spectroscopy (XPS) measurements were done to assess its chemical composition. Post-deposition annealing was performed at 500 °C and 850 °C in air in order to achieve the formation of crystalline films and to accomplish photoluminescence emission. According to the analysis of X-ray diffraction (XRD) spectra, cubic and monoclinic phases were formed. It is found that the relative amount of the phases is related to the different film configurations, showing that the control over the crystallization phase can be realized by adequately designing the structures. All the films showed photoluminescence emission peaks (under excitation at 355 nm) that are attributed to the intra 4f-transitions of Eu{sup 3+} ions. The emission spectral shape depends on the crystalline phase of the Eu{sub 2}O{sub 3} layer. Specifically, changes in the hypersensitive {sup 5}D{sub 0} → {sup 7}F{sub 2} emission confirm the strong influence of the crystal field effect on the Eu{sup 3+} energy levels.

The Political Economy of International Emission Trading Scheme Choice: Empirical Evidence

DEFF Research Database (Denmark)

Boom, J.T.; Svendsen, Gert Tinggaard

2000-01-01

The Kyoto Protocol allows emissions trading. It does however not specify how this is to take place and the discussion on the design of an emissions trading scheme is ongoing. In this paper, we give some empirical evidence on the preference of industry and environmental organizations for internati...... for international emissions trading scheme. Since they may have an influence on decision makers, their opinion is important. Our conclusion is that both industry and environmental organizations prefer credit trading, although for widely different reasons....

Building Trust in Emissions Reporting. Global Trends in Emissions Trading Schemes

Energy Technology Data Exchange (ETDEWEB)

Kruijd, J.; Walrecht, A.; Laseur, J.; Schoolderman, H.; Gledhill, R.

2007-02-15

This report highlights the key characteristics of the world's main emission trading schemes, presents a new vision for compliance in emissions trading and calls for global action to develop this. Climate change is now at the top of the political and business agenda. Al Gore's 'An Inconvenient Truth', the Stern Review and the now almost daily press coverage of climate change science and impacts have engaged many of the global leaders in government and in business. Emissions trading is increasingly seen as a central plank in the response to climate change. But market mechanisms like this depend on trust and confidence. Any widespread or systemic failure, as a result of deficient monitoring and reporting, flawed compliance processes or fraud, could undermine confidence in markets and regulation and jeopardise the crucial policy goals that they are designed to address. Key to this trust are the three central criteria of transparency, accountability and integrity. The PricewaterhouseCoopers report looks at how the patchwork of trading schemes that are emerging around the globe stacks up against these criteria. Despite good intentions across the board, the general picture is one of new and immature markets, inconsistent and complex compliance frameworks and risk. PricewaterhouseCoopers make the case for urgent and coordinated action to develop a framework of generally accepted principles and practice that will underpin trust and efficiency in these new markets - in effect, a new Global Emissions Compliance Language.

Building Trust in Emissions Reporting. Global Trends in Emissions Trading Schemes

International Nuclear Information System (INIS)

Kruijd, J.; Walrecht, A.; Laseur, J.; Schoolderman, H.; Gledhill, R.

2007-02-01

This report highlights the key characteristics of the world's main emission trading schemes, presents a new vision for compliance in emissions trading and calls for global action to develop this. Climate change is now at the top of the political and business agenda. Al Gore's 'An Inconvenient Truth', the Stern Review and the now almost daily press coverage of climate change science and impacts have engaged many of the global leaders in government and in business. Emissions trading is increasingly seen as a central plank in the response to climate change. But market mechanisms like this depend on trust and confidence. Any widespread or systemic failure, as a result of deficient monitoring and reporting, flawed compliance processes or fraud, could undermine confidence in markets and regulation and jeopardise the crucial policy goals that they are designed to address. Key to this trust are the three central criteria of transparency, accountability and integrity. The PricewaterhouseCoopers report looks at how the patchwork of trading schemes that are emerging around the globe stacks up against these criteria. Despite good intentions across the board, the general picture is one of new and immature markets, inconsistent and complex compliance frameworks and risk. PricewaterhouseCoopers make the case for urgent and coordinated action to develop a framework of generally accepted principles and practice that will underpin trust and efficiency in these new markets - in effect, a new Global Emissions Compliance Language