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The first detailed description and analysis of the European Union Emissions Trading Scheme.
The EU Emissions Trading Scheme (EU ETS) has been characterized as one of the most far-reaching and radical environmental policies for many years. Given the EU's earlier resistance to this market-based and US-flavoured programme, the development and implementation of the EU ETS has been rapid. This novel approach to environmental regulation has the potential to affect not only greenhouse gas emissions in the EU, but also international strategies for climate change protection. This book investigates the origins, evolution and consequences of the EU ETS and offers significant contributions to the literatures on climate policy and EU policy making.
This special issue of the Climate Policy journal outlines the fundamentals of the new European Emissions Trading Scheme (EU ETS), assesses the strategies for and impact of implementation and highlights the scheme's potential, including positive aspects and remaining hurdles. The EU Emission Trading Scheme (EU ETS) is the first international trading scheme for CO2 in the world. Its aim is to reduce the cost of compliance to existing targets under the Kyoto Protocol. From 1st January 2005, companies in high-energy sectors covered by the scheme must limit their CO2 emissions to allocated levels, arranged in two periods: from 2005-2007 and 2008-2012 (to match the first Kyoto commitment period). In practice, the scheme is likely to cover over 12,000 installations across the European Union, corresponding to approximately 46% of the total EU CO2 emissions. The EU ETS represents a significant development in working at an international level to combat dangerous climate change. The EU Emissions Trading Scheme presents a comprehensive and insightful analysis of the EU ETS, written by international experts in the field. The publication includes the latest research on emissions credits, the interaction of the trading scheme with national energy policies and the debate on future expansion.
The EU emissions trading scheme is the largest emissions control scheme in the world, capping almost half of European CO2 emissions. As the scheme emerges from its pilot phase, this special issue of Climate Policy journal analyses the lessons learned from the last two years and their implications for phase II.The volume presents some of the key analyses that helped inform the European Commission's decisions on national allocation plans, with research ranging from detailed country-by-country comparisons to more generic analysis that puts forward the case for harmonization. Challenging calls to seperate electricity from other sectors, a macroeconomic study suggests that the biggest efficiency gains come from inter-sectoral trading, even more than international trading. Empirical papers, which look at the expected scarcity of allowances in the market and merge models for the power and non-power sectors to project emissions and contrast these to the aggregate allocation volume, are complemented by two numerical simulations of trade and distributional effects, estimating the efficiency gains of the EU ETS in phase I and assessing allocation and distribution effects in the RGGI context.
Businesses must create initiatives and adopt eco-friendly practices in order to adhere to the sustainability goals of a globalized world. Recycling, product service systems, and green manufacturing are just a few methods businesses use within a sustainable supply chain. However, these tools and techniques must also ensure business growth in order to remain relevant in an environmentally-conscious world. The Handbook of Research on Interdisciplinary Approaches to Decision Making for Sustainable Supply Chains provides interdisciplinary approaches to sustainable supply chain management through the optimization of system performance and development of new policies, design networks, and effective reverse logistics practices. Featuring research on topics such as industrial symbiosis, green collaboration, and clean transportation, this book is ideally designed for policymakers, business executives, warehouse managers, operations managers, suppliers, industry professionals, sustainability developers, decision makers, students, academicians, practitioners, and researchers seeking current research on reducing the environmental impacts of businesses via sustainable supply chain planning.
This is a print on demand edition of a hard to find publication. The European Union¿s (EU) ETS is a cornerstone of the EU¿s efforts to meet its obligation under the Kyoto Protocol. It covers more than 10,000 energy intensive facilities across the 27 EU Member countries. A ¿Phase 1¿ trading period began 1/1/05. A second, Phase 2, trading period began in 2008. A Phase 3 will begin in 2013 designed to reduce emissions by 21% from 2005 levels. Contents of this report: (1) Overview; (2) Results from Phase 1 and 2; (3) Phase 3: Auctions; New Entrant Reserves; Decision on Eligible Industries; Flexibility Mechanisms and Price Volatility Control; Expanding Coverage; (4) U.S. Cap-and-Trade Proposals: Emission Inventories and Target Setting; Coverage; Allocation Schemes; Flexibility and Price Volatility. Illustrations.
This timely book addresses the need for further measures to reduce greenhouse gas emissions in the European Union, arguing that the EU Emissions Trading Scheme does not offer sufficient incentives for the carbon-intensive materials sector. It highlights the challenge that emissions from industries such as iron and steel, cement and aluminium, amongst others, pose to the EU’s commitment to significantly cut emissions by 2030.
Through analysis of the European Union Emissions Trading Scheme (EU ETS) and the Clean Development Mechanism (CDM), this book demonstrates how to use a variety of econometric techniques to analyze the evolving and expanding carbon markets sphere, techniques that can be extrapolated to the worldwide marketplace. It features stylized facts about carbon markets from an economics perspective, as well as covering key aspects of pricing strategies, risk and portfolio management.
Every decision about energy involves its price and cost. The price of gasoline and the cost of buying from foreign producers; the price of nuclear and hydroelectricity and the costs to our ecosystems; the price of electricity from coal-fired plants and the cost to the atmosphere. Giving life to inventions, lifestyle changes, geopolitical shifts, and things in-between, energy economics is of high interest to Academia, Corporations and Governments. For economists, energy economics is one of three subdisciplines which, taken together, compose an economic approach to the exploitation and preservation of natural resources: energy economics, which focuses on energy-related subjects such as renewable energy, hydropower, nuclear power, and the political economy of energy resource economics, which covers subjects in land and water use, such as mining, fisheries, agriculture, and forests environmental economics, which takes a broader view of natural resources through economic concepts such as risk, valuation, regulation, and distribution Although the three are closely related, they are not often presented as an integrated whole. This Encyclopedia has done just that by unifying these fields into a high-quality and unique overview. The only reference work that codifies the relationships among the three subdisciplines: energy economics, resource economics and environmental economics. Understanding these relationships just became simpler! Nobel Prize Winning Editor-in-Chief (joint recipient 2007 Peace Prize), Jason Shogren, has demonstrated excellent team work again, by coordinating and steering his Editorial Board to produce a cohesive work that guides the user seamlessly through the diverse topics This work contains in equal parts information from and about business, academic, and government perspectives and is intended to serve as a tool for unifying and systematizing research and analysis in business, universities, and government