emissions trading scheme Articles
-
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 ...
-
Evaluating links between emissions trading schemes: An analytical framework
Emission trading systems (ETS) have been or will be implemented in more and more states and regions around the world. The objectives of such trading systems, however, can only be reached to full extend if a worldwide ETS comes into effect. Therefore, ETS are forced to join. Against that backdrop, linking of two or more ETS can be an important step towards a global ETS. This article examines ...
-
Australian emissions trading scheme review
The Garnaut Climate Change Review’s approach to mitigation was initially set out in the Interim Report in February 2008. This paper focuses on the key role for an emissions trading scheme (ETS) in those mitigation efforts. It recommends an approach for Governments to consider in developing and delivering an effective ETS. Further consideration, informed by detailed economic modelling, will be ...
-
An investigation into the evolved relationship between spot and futures in the European Union Emission Trading Scheme
This paper fills the gap in the literature that the functions of the European Union Allowance (EUA) futures have only been studied in the pilot phase of the European Union Emission Trading Scheme (EU ETS) and no market evolvement has been explored. The cost-of-carry pricing efficiency of the EUA futures and information spillover between the EUA spot market and futures market are examined in Phase ...
-
Software for a Cleaner World
When the European Union's Emissions Trading Scheme comes into force at the beginning of next year, many companies will start paying for the carbon dioxide they emit in europe. It could fuel renewed interest in environmental and non-financial reporting sofware--even now, some of the world's biggest companies are using no more than a spreadsheet to track how much CO2 they ...
By Verisk 3E
-
INFORSE proposals for EU emissions trading scheme
The first period of the EU-ETS (2005-2007) has shown a number of weaknesses in the system which clearly show the needs for better frameworks for the EU-ETS as part EU climate policies. Some of the main problems of the first period of the EU-ETS were: Large variations in prices of allowances, reducing the incentives for long-term investments to reduce emissions. Much too low prices in the last ...
-
External reporting of the risks linked to the EU ETS – an exploratory study of German HDAX non-financial corporations
Companies subject to the European Emission Trading Scheme (EU ETS) are faced with a wide range of challenges that might negatively affect their business objectives. All of these challenges are afflicted with uncertainties and therefore represent company risks. These should be integrated into existent risk management practices. This exploratory study analyses to what extent German non-financial ...
-
Allocation of greenhouse gas allowances in the United States – A northeastern example
The Regional Greenhouse Gas Initiative (RGGI) initiated the first regional greenhouse gas emissions trading system in the United States. This cap-and-trade program will begin on 1 January 2009 and will include sources from the electricity generating sector. To date, 10 northeastern states have committed themselves to participating, and each state is currently developing laws and regulations to ...
-
Estimating the 'value at risk' of EUA futures prices based on the extreme value theory
This paper employs the Extreme Value Theory (EVT) to measure the 'Value at Risk' (VaR) of EUA futures prices. The results show that during the sample period: first, the EVT approach can be used to reliably measure the extreme risk of carbon futures markets of the European Union Emissions Trading Scheme, both for Phase I and Phase II. Second, the downside extreme risk of carbon futures market ...
-
The emerging issue of the emissions trading schemes in Europe and Australia
This report covers an overview of the origins of the carbon trading market and the mechanics involved in trading carbon emission units. The report seeks to analyse the carbon trading market in Europe and Australia. The carbon trading market is reviewed with an overall concern for the role government regulation plays in the market, as well as the impact of introducing an emission trading scheme on ...
-
Estimation of CO2 shadow price in Chinese provinces: an output distance function approach
As the low–carbon issue become increasingly critical in the world. The marginal abatement cost (shadow price) of CO2 emission is a determinant in the carbon emissions trading market. This paper estimates the CO2 shadow price of different Chinese provinces based on the parametric approach: the output distance function. The results show that the average CO2 marginal abatement cost is 1.8 Y/T (0.28 ...
-
Greenhouse Gas Emissions trading and duties of the state: A preliminary review of Alberta’s specified Gas Emitters Regulation
In July 2007 the oil endowed Canadian province of Alberta launched the first compliance emissions trading scheme for greenhouse gases in North America under its Specified Gas Emitters Regulation. This paper reviews key aspects of the programme including scope, performance credit trading and project offsetting with comparative reference to other carbon emissions trading schemes. The paper ...
-
Exploring uncertainties in the EU ETS: “learning by doing” continues beyond 2012
The amendment of the EU ETS agreed on in December 2008 will see covered entities face new challenges. Due to a more stringent overall reduction target, the emissions trading regime will have a larger influence on the business sector. The basic question “who can get, under what conditions, tradable allowances” will thus be even more relevant than in the initial regime. This paper sheds light on ...
-
The Canadian Regulatory Framework for carbon trading: Sailing away from consensus while waiting for the U.S. Federal Scheme
There is a lot of controversy on Parliament Hill in Canada regarding the greenhouse gas policy to be enacted. It is very difficult to assess the latest proposed framework without suggesting a political view or without analysing the economic context of Canadian actors involved in the emissions trading market. The purpose of this article is to briefly articulate the main controversial issue of said ...
-
EEB Position paper on Environmental Fiscal reform and EU emissions trading scheme (EU-ETS): the link National Allocation Plans (NAPs)
1. An overview on National Allocation Plans Within the framework of the EU Emissions Trading Scheme, all EU 15 Member States are required, and 10 newly acceding countries (future Member States; hereafter NAC) are encouraged to publish National Allocation Plans (NAPs) to notify the Commission, by end of March 2004. This forms the corner stone of the Community’s climate change policies whose ...
-
(De)Centralized Law-making in the Revised EU ETS
After a highly pressurized political process, the European Parliament and the Council adopted Directive 2009/29/EC, which amended Directive 2008/87/EC so as to “improve and extend the European Emissions Trading Scheme (EU ETS)” in April of 2009. The changes in the so-called third phase of the EU ETS will be substantial, altering some of the essential features of the EU ETS. This paper discusses ...
-
Market-based instruments for environmental policy in Europe
This report presents an assessment of the main and most recent developments in the use of market-based instruments in European environmental policy. The report covers a range of instruments which are used as tools to achieve environmental objectives. These instruments include: environmental taxes, charges and deposit-refund systems, environmental tax reform, emissions trading schemes, subsidies, ...
-
The state of carbon finance in Europe: a 'SWOT' analysis of the EU's Emissions Trading Scheme
As Phase III of the European Union's Emissions Trading Scheme (EU ETS) will begin in January 2012 when airlines operating flights to or from Europe will have to buy carbon permits to help offset their emissions under EU legislation, carbon finance and trading in Europe is set to proceed to a new horizon. Launched in January 2005, EU ETS is one of the established multilateral measures in the ...
-
The risks and opportunities in starting a carbon trading firm within the carbon marketplace
This paper looks at the viability of starting a carbon trading firm in Australia, based on the understanding and nature of carbon trading and its acceptance and implementation in the economy. The main function of the firm is to work as a broker on behalf of organisations or individuals for buying and selling carbon credits. A broad overview of the evolution of the carbon trading market and the ...
-
Converging Markets
The crucible in this scenario for the international climate regime is the emergence of an effective and liquid international carbon market with participation of private entities. In order to make the carbon market effective a bilateral negotiation track will develop, operating in parallel with the multilateral track under the UNFCCC. The purpose of the bilateral track is to integrate the various ...
Need help finding the right suppliers? Try XPRT Sourcing. Let the XPRTs do the work for you