emissions allowance Articles
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Border tax adjustments and emissions trading: the implications of international trade law for policy design
Border tax adjustments offer a means of addressing the competitiveness impacts of rigorous emissions policies, though their status under international trade law is unclear at best. The legality of border adjustments for energy taxes has long been an unsettled question, and the legal uncertainties only multiply when the concept is extended to an emissions trading scheme. Designing a mechanism to ...
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Harmonising equity and efficiency in allocating global post-Kyoto GHG emissions
In this paper, a non-parametric efficiency analysis approach is presented for determining Greenhouse Gases (GHG) tradable emissions allowances for all countries. The approach has two steps: expansion and contraction. In the expansion step and given its population, each country is projected on the efficient frontier and a maximum GDP and associated energy and GHG emissions levels are computed. ...
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`An Industrial Perspective - Strategic Carbon Management,` presented in July 2008
S.3036 – Lieberman-Warner Climate Security Act Emission Targets Between 2005 and 2012: 5,775 million metric tons of CO2equivalent, the estimated levels during 2005 Between 2012 and 2020: Further reductions of ~2 percentper year should result in a 19% reduction below currentlevels Between 2012 and 2050: Emissions should be reduced by71% by 2050 Status Markup by committee on ...
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Review of the stochastic properties of CO 2 futures prices
In this paper, we review the extant mathematical and environmental economics literatures on the stochastic properties of CO 2 emission allowance futures prices. We explain the main findings arising from this literature from both continuous- and jump-diffusion models. Based on the activity signature function, by Todorov and Tauchen (2010, 2011), our review shows that the Brownian motion shall ...
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`Landmark 2008 Energy Legislation - A Perspective on Cap-and-Trade,` presented at the Florida Environmental School, July 2008
Agenda A Federal Perspective on Cap and Trade Florida Energy Legislation and Cap and Trade Details Program Design Considerations S.3036 – Lieberman-Warner Climate Security Act Emission Targets Between 2005 and 2012: 5,775 million metric tons of CO2equivalent, the estimated levels during 2005 Between 2012 and 2020: Further reductions of ~2 percentper year should result in a ...
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Risk and Reward in Allowance Portfolios.
Emissions allowances held by US power generating companies have market values which in many cases exceed $500 million. Yet they were allocated at zero cost to help companies comply with the US Clean Air Act. Furthermore, annual price volatility of sulphur dioxide (SO2) allowances can exceed 40%. But traditionally these allowances have been managed only to meet compliance obligations without ...
By IHS Markit
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Extensions to the emission trading system in Spain
Climate change is the subject of debate these days derived from the Copenhagen Summit, where the major commitments and agreements have been discussed. In any case, the commitment within the EU is strong and clear for the immediate future. The commitments to reduce emissions of greenhouse gases within the EU framework have as their main flagship the Emission Trading System (ETS) regime established ...
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Links between spot and futures allowances: ECX and EEX markets comparison
This paper discusses the relation of spot and futures CO2 allowances, used to model and test forward premium and convenience yield (CY) concepts during 2005–2011. We analyse allowances futures from an ex–post perspective and find positive forward premia for both Phase I and Phase II and for different European markets: European Energy Exchange (EEX) and European Climate Exchange (ECX), indicating ...
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EU environment council conclusions
Main results of the EU Environment Council held on 20 December 2007 The Council reached political agreement on a draft directive including aviation activities into the greenhouse gas emission allowance trading scheme within the European Community. It also adopted common positions on: a draft directive on environmental quality standards in the field of water policy; a draft directive on waste; ...
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EU emissions trading scheme
The next couple of years will be crucial for the future of trading greenhouse gases (GHGs). Europe is reviewing the way its trading system operates to address the lessons it has learned to date and increasingly others are designing and implementing trading programs. New Zealand has recently published its proposals, Australia is looking at how it would implement a trading system, and a growing ...
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Greenhouse Gas Reductions from Demand-Side Management
This paper discusses greenhouse gas reductions gained through demand-side management programs. Demand-side management programs are designed to educate consumers to reduce energy consumption by improving energy efficiency and modifying energy use levels. These programs conducted by utilities result in decreased amounts of greenhouse gas emissions. However, utilities are often restricted from using ...
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`Greenhouse Gas Reductions from Demand-Side Management,` presented at the 2004 AWMA annual conference
Abstract This paper discusses greenhouse gas reductions gained through demand-side management programs. Demand-side management programs are designed to educate consumers to reduce energy consumption by improving energy efficiency and modifying energy use levels. These programs conducted by utilities result in decreased amounts of greenhouse gas emissions. However, utilities are often ...
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ESP`s Fall User Group Meeting Provides EMIS Solutions
Representatives from more than 80 companies attended Environmental Software Providers’ (ESP) Fall User Group Meeting held Nov. 15-16 at the Woodlands Conference Center and Resort in Houston. ESP held the meeting in conjunction with its development partners, Environmental Support Solutions (ESS), Jordan Systems and EC Systems.The company’s semi-annual usergroup meetings are vital in guiding the ...
By IHS Markit
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EU emissions trading scheme to bring small carbon savings
EU emissions trading scheme to bring small carbon savings Campaign group call for tighter caps on carbon emissions covered by the ETS in Europe each year. A new report by carbon emissions trading campaign group Sandbag predicts that the five year period of the EU’s emissions trading scheme (ETS) ending in 2012 is set to deliver carbon savings of less than a third of 1% of total carbon ...
By Vital Energi
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ETS reform: everything you need to know in a nutshell
The EU's emissions trading scheme (ETS) was set up to reduce gas emissions and fight climate change, but it is not working as efficiently as it could. On 24 February MEPs approved draft legislation to tackle the imbalances of supply and demand of emission allowances, which is holding back investment in green technologies. Read on to find out what the reform is all about. About ETS ETS is a tool ...
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Quantifying flexibility in combating climate change: modelling the implications of flexibility mechanisms in the climate change negotiations
With the "International Trading of Emission Allowances" (ITEA) model, we have analysed the flexibility mechanisms provided for in the Kyoto Protocol. Three main mechanisms of flexibility are analysed differentiation of initial commitments, multiple sources, and locational flexibility (trading). A differentiation of commitments could help the evolution of commitments, especially with a ...
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A post-Kyoto analysis with the ERIS model prototype
Electricity generation technologies are examined in a global context with a multi-regional version of the ERIS model prototype with endogenous technological learning curves, developed within the EU/TEEM project. Impacts of Kyoto-like CO2 constraints are analysed considering the effects of allowing or not trade of emission permits. Complementary stochastic analyses addressing the uncertainty of ...
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An empirical study on the interaction between EUA futures, coal, natural gas and electricity
This paper uses a Vector Error Correction Model (VECM), a method to estimate the adjustment speed of variables toward their long–run relationship in the short run, to investigate the dynamic relationship between the prices of EUA, coal, natural gas and electricity futures. It finds that there is a long–run equilibrium relationship between them. Short–run relationships between them are also ...
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Interview: how to charge firms for CO2 emissions without it costing jobs
Charging companies for CO2 emissions can be a great way of encouraging them to become cleaner, but also risks pushing them to move production to somewhere with lower environmental standards. The European Commission aims to prevent the practice known as carbon leakage by continuing to give some allowances away for free. Bas Eickhout proposed to block this decision, saying many industries can ...
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State of the SIP Call - A plan to expand the US trading scheme in emissions allowances for nitrogen oxides has been contested in a series of court cases for more than a year.
Emissions Trading, the economy and the environmentJohn Kinsman - October 2002 Preserving the SO2 marketNorman Fichthorn and Allison Wood - September 2002 Clear Skies and business certaintyLisa Jacobson - June 2002 Is $0 your best guess?Mark Trexler - May 2002 Writing the rules in MassachusettsDan Chartier and Tom Powers - April 2002 Think global, act localDavid Bubenick - March 2002 ...
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