External factors will prod Russia into climate action

2021 ◽  
Keyword(s):  
Forest Fires ◽  
Public Attention ◽  
Export Markets ◽  
Content Type ◽  
Carbon Emissions Trading ◽  
Emissions Trading Scheme ◽  
Climate Action ◽  
The Government ◽  
Trading Scheme ◽  
The Eu

Significance This is still tentative planning but it indicates the Kremlin is being spurred into action by looming curbs on high-carbon products in China and the EU, Russia's key export markets. Russia has so far resisted calls for more ambitious commitments. Impacts Siberian forest fires will focus public attention on the environment, if not global warming. Blame for the wildfires, as with other environmental problems, will be weaponised in elite infighting. The government is interested in developing cheap, green hydrogen. A pilot carbon emissions trading scheme in Sakhalin could be scaled up to other parts of Russia.

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.

China will enforce environmental policy more strictly

2018 ◽  
Keyword(s):  
Air Pollutants ◽  
Environmental Governance ◽  
Emissions Trading ◽  
Holistic Approach ◽  
Content Type ◽  
Resources Management ◽  
Emissions Trading Scheme ◽  
The Government ◽  
Trading Scheme ◽  
People's Congress

Subject The coming restructuring of the environment-related government organs. Significance An overhaul of China’s environmental bureaucracy announced at the National People's Congress last month shows that the government is committed to realising its 'ecological civilisation' agenda by improving environmental governance and enforcement. It aims to achieve this by reducing fragmentation between elite policymaking institutions and by a centralised, integrated and holistic approach to climate change and environmental and natural resources management. Impacts Businesses face regulatory uncertainty until at least the June deadline for finalising the new ministerial departments, and probably beyond. State capacity and willingness to enforce environmental rules strictly will increase. Pollution in water systems and air pollutants other than carbon dioxide will now receive more attention. The rollout of China’s national emissions trading scheme, which is already behind schedule, may be negatively affected.

China’s carbon trading scheme will fall short of hopes

2020 ◽  
Keyword(s):  
Carbon Emissions ◽  
Electricity Generation ◽  
Emissions Trading ◽  
Electricity Price ◽  
Carbon Trading ◽  
Content Type ◽  
Carbon Emissions Trading ◽  
Emissions Trading Scheme ◽  
Trading Scheme

Subject China's emissions trading scheme. Significance China is expected to launch the next phase of its national carbon emissions trading scheme (ETS) this year, involving simulated trading. It will be the world’s largest ETS. Impacts The initial impact will be to encourage efficient coal-fired electricity plants rather than other forms of electricity generation. The threat of an EU tax on emissions-intensive imports is likely to accelerate China's attempts to develop a national ETS. The effort to establish an ETS may bolster electricity price deregulation efforts.

China will transform global carbon emissions trading

2017 ◽  
Keyword(s):  
Carbon Emissions ◽  
Emissions Trading ◽  
Institution Building ◽  
Content Type ◽  
Carbon Emissions Trading ◽  
Foreign Companies ◽  
Emissions Trading Scheme ◽  
Significant Step ◽  
Trading Scheme ◽  
Global Carbon

Subject China's plans for a national carbon emissions trading scheme (ETS). Significance China will launch a nationwide emissions trading scheme (ETS, also known as 'cap-and-trade') by mid-2017. It will be the largest ETS in the world, and a significant step towards fulfilling the pledges that Beijing made in the Paris Agreement. However, the seven pilot schemes that form the basis of the ETS highlight likely difficulties, which are inherent to China’s political economy. Impacts The ETS is a step towards China assuming global leadership in combatting climate change. The prospect of linking up with China's ETS may incentivise other emerging economies to adopt their own. Regulatory institution-building will be necessary when China wants to link its ETS with other schemes in the longer term. Foreign companies operating in China in the affected sectors may face new compliance obligations.

EU steel sector woes pose China challenges

2016 ◽  
Keyword(s):  
Emissions Trading ◽  
Content Type ◽  
Eu Membership ◽  
Emissions Trading Scheme ◽  
Steel Sector ◽  
Trading Scheme ◽  
The Uk ◽  
Eu Emissions Trading Scheme ◽  
The Eu ◽  
Opposition Parties

Subject The EU steel sector. Significance The EU steel sector is facing a challenge arising from global overcapacity -- and, in particular, surging Chinese exports. The UK industry is bearing the brunt of the EU sector's difficulties, as highlighted by the January 18 announcement by Tata Steel of 1,050 further UK job losses, including 750 at Port Talbot in Wales. Impacts Chinese exports will continue to increase their share of EU steel demand unless anti-dumping actions are stepped up. The UK sector is likely to continue bearing the brunt of EU steel sector adjustment, given the particular conditions it faces. However, the UK experience could be replicated to some extent elsewhere in the EU. UK steel's woes will be cited by opposition parties in the campaigns for the May Welsh Assembly elections and the EU membership referendum. Concerns about the steel industry's vulnerability may weaken attempts to toughen the EU Emissions Trading Scheme.

Does a carbon emissions trading scheme spur urban green innovation? Evidence from a quasi-natural experiment in China

2021 ◽  
pp. 0958305X2110153
Author(s):  
Chao Li ◽  
Xiangyou Li ◽  
Deyong Song ◽  
Meng Tian
Keyword(s):  
Energy Conservation ◽  
Alternative Energy ◽  
Positive Impact ◽  
Emission Trading ◽  
Green Innovation ◽  
Urban Green ◽  
Carbon Emissions Trading ◽  
The Government ◽  
Trading Scheme ◽  
The Impact

Based on the panel data of 277 cities between 2003 and 2017 and a unique city-level dataset of green patent applications, this study employs the difference-in-differences (DID) method to evaluate the effect of China’s carbon emission trading scheme (ETS) pilots on urban green innovation. The findings indicate that China’s ETS pilots have a positive impact on urban green innovation, and that impact is more significant for municipalities than for prefecture-level cities. Furthermore, the impact on different categories of urban green innovation is heterogeneous. More specifically, China’s ETS pilots have significantly spurred urban green innovation that is closely related to energy conservation and emission reduction, including alternative energy production, transportation, energy conservation and so forth. Moreover, the facilitating effect of China’s ETS pilots on urban green innovation suffers from a lagging effect, which began to show a significant positive effect in 2016. Overall, this paper identifies the effect of China’s ETS pilots on urban green innovation, and suggests that the government should consider the heterogeneity of urban green innovation when designing national ETS policies.

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