Corporate Emissions-Trading Behaviour During the First Decade of the EU ETS

2021 ◽  
Author(s):  
Jan Abrell ◽  
Johanna Cludius ◽  
Sascha Lehmann ◽  
Joachim Schleich ◽  
Regina Betz
Keyword(s):  
Emissions Trading ◽  
Eu Ets ◽  
The Eu ◽  
Trading Behaviour

Market efficiency and the basis in the European Union Emissions Trading Scheme

2014 ◽  
Vol 41 (4) ◽  
pp. 615-628 ◽  
Author(s):  
Andros Gregoriou ◽  
Jerome Healy ◽  
Nicola Savvides
Keyword(s):  
Emissions Trading ◽  
Eu Ets ◽  
The European Union ◽  
Content Type ◽  
Spot Prices ◽  
Emissions Trading Scheme ◽  
Cost Of Carry ◽  
Trading Scheme ◽  
The Cost ◽  
The Eu

Purpose – The purpose of this paper is to investigate the validity of the cost of carry model by examining the time series properties of the deviation between future and spot prices in the European Union Emissions Trading Scheme (EU-ETS) over the time period 2005-2012. The paper utilizes a non-linear mean reverting adjustment mechanism, and discovers that although deviations of future from spot prices can exhibit a region of non-stationary behaviour, overall they are stationary indicating market efficiency in the trading of carbon permits. Design/methodology/approach – The methodology involves non-linear mean reverting unit root tests. Findings – The findings provide insights into the functioning of the EU-ETS market. They suggest that it is informationally efficient and does not permit arbitrage between spots and futures. Originality/value – The authors are the first study to examine efficiency in the EU-ETS by investigating the validity of the cost of carry model. The authors are also the only study to look at efficiency in both Phase I and Phase II of the scheme.

scholarly journals Derechos de emisión temporales procedentes de actividades de forestación y reforestación en el EU ETS

2011 ◽  
Vol 7 (14) ◽  
pp. 21
Author(s):  
Ignacio Bachiller Méndez ◽  
José Luis Fernández-Cavada Labat ◽  
Jaime Martín Juez
Keyword(s):  
Climate Change ◽  
European Union ◽  
Future Development ◽  
Clean Development Mechanism ◽  
Emissions Trading ◽  
Eu Ets ◽  
Emissions Trading Scheme ◽  
Trading Scheme ◽  
Flexible Mechanisms ◽  
The Eu

The authors have assessed the regulatory framework set by the UNFCCC (United Nations Frame Convention on Climate Change), the Kyoto Protocol and its Flexible Mechanisms, including the CDM (Clean Development Mechanism), and the EU ETS (European Union Emissions Trading Scheme). After this general overview, the article shows how afforestation and reforestation activities have been incorporated into the CDM process and its current consideration under the EU ETS. Transaction costs of these types of CDM project activities are analyzed, together with the state of the temporary allowances market. Finally, taking into account the above mentioned elements, the authors draw several conclusions on the opportunity and expectations of the future development of this market.

scholarly journals European union emissions trading system with regard to climate change mitigation in Latvia

2012 ◽  
Vol 8 (-1) ◽  
pp. 29-35 ◽  
Author(s):  
Ilze Pruse
Keyword(s):  
European Union ◽  
Climate Change Mitigation ◽  
Emissions Trading ◽  
Ghg Emissions ◽  
Eu Ets ◽  
The European Union ◽  
Ghg Emission ◽  
Trading System ◽  
Change Mitigation ◽  
The Eu

Abstract The goal of this paper is to analyse the volumes of greenhouse gas (GHG) emissions from the European Union Emissions Trading System’s (EU ETS) participants in Latvia in relation to their participation therein. After describing and discussing the EU ETS mechanism and its operation in Latvia in the period 2005-2010, the interconnectedness between the GHG emissions and the EU ETS participants’ operation is analysed. The analysis concludes that, although the EU ETS has contributed towards GHG emission reduction, due to the growth of the economy, overall GHG emissions from the EU ETS participants in Latvia are increasing.

scholarly journals Emissions Trading Hybrids: The Case of the EU ETS

2019 ◽  
Vol 15 (1) ◽  
Author(s):  
Edwin Woerdman ◽  
Andries Nentjes
Keyword(s):  
Emissions Trading ◽  
Production Capacity ◽  
Performance Standard ◽  
Eu Ets ◽  
The European Union ◽  
Cap And Trade ◽  
Trading System ◽  
Standard Rate ◽  
High Level ◽  
The Eu

Abstract We argue that the European Union Emissions Trading System (EU ETS) has evolved into a hybrid of two design variants, allowance trading (cap-and-trade) and credit trading (performance standard rate trading), with an added feature of industry support to minimize carbon leakage. In particular the current rules tying free allowances to production capacity expansion, plant closure and capacity use have transformed the efficient cap-and-trade program that stood at the origins of the EU ETS into a system that even surpasses credit trading in paying hidden product subsidies to firms. This combination of rules encourages an inefficiently high level of investment in production capacity and an inefficiently high output in industries exposed to international competition. The result is a sub-optimal EU Emissions Trading ‘Hybrid’ (which we therefore label as ‘EU ETH’).

scholarly journals Impact of Eu Ets on Sustainable Development of its Participants in Latvia

2012 ◽  
Vol 11 (1) ◽  
pp. 165-177
Author(s):  
Ilze Prūse
Keyword(s):  
Sustainable Development ◽  
Emissions Trading ◽  
Greenhouse Gas Emission ◽  
Eu Ets ◽  
The European Union ◽  
Gas Emission ◽  
Trading System ◽  
The Sustainable Development ◽  
The Impact ◽  
The Eu

Abstract Latvia is covered by the European Union Emissions Trading System (EU ETS) and therein 80 participants from Latvia have participated. The goal of the paper is to analyse the impact of the EU ETS on the sustainable development of its participants in Latvia. The concept of sustainable development is explored with respect to both macro and micro scale and in the context of sustainable development the EU ETS is described. The impact of the EU ETS on its participants in Latvia is considered by means of methods of quantitative and qualitative analysis. It has been established that in past the participants of the EU ETS from Latvia had generally beneficial positions in the EU ETS; hence although the EU ETS did not directly promote greenhouse gas emission reductions, it provided opportunities to gain additional profits and many of the EU ETS participants in Latvia made use of them. In addition, certain interrelationships have been identified between the data on the EU ETS participants performing EUA trading and the data on the EU ETS participants not performing EUA trading. It has been concluded that the EU ETS might have contributed towards the sustainable development of its participants in Latvia within its certain dimensions.

External Aspects of the EU ETS in Aviation in Light of CORSIA

2021 ◽  
Vol 23 (2-3) ◽  
pp. 271-282
Author(s):  
Marek Jaśkowski
Keyword(s):  
Co2 Emissions ◽  
Emissions Trading ◽  
Legal Status ◽  
Global Market ◽  
Civil Aviation ◽  
Eu Ets ◽  
Trading System ◽  
Present Contribution ◽  
Carbon Offsetting ◽  
The Eu

Abstract According to International Civil Aviation Organization (ICAO) Assembly Resolution A40-19, the Carbon Offsetting and Reduction Scheme for International Aviation mechanism (CORSIA) is to be the only global market-based measure (MBM) applied to CO2 emissions from international aviation. This solution has been dictated by the intention to avoid a patchwork of duplicative State or regional MBMs and to ensure that international aviation CO2 emissions should be accounted for only once. The present contribution assesses the margin of autonomy left for Emissions Trading System of the EU (EU ETS) mechanism in the light of this clause, considering its legal status and divergent interpretations. Moreover, the recent 2020 roadmap for revision of the EU ETS Directive concerning aviation, published by the European Commission, is briefly discussed.

scholarly journals Anatomy of Emissions Trading Systems: What is the EU ETS?

2019 ◽  
Vol 98 ◽  
pp. 11-19 ◽  
Author(s):  
Aviel Verbruggen ◽  
Erik Laes ◽  
Edwin Woerdman
Keyword(s):  
Emissions Trading ◽  
Eu Ets ◽  
Trading Systems ◽  
The Eu
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