scholarly journals Commentary on European Court of Justice judgement of 19 January 2017 in case C-460/15 Schaefer Kalk GmbH & Co. KG v Bundesrepublik Deutschland

2018 ◽  
Vol 29 (2) ◽  
pp. 25-30
Author(s):  
Przemysław Siwior ◽  
Joanna Bukowska
Keyword(s):  
Emissions Trading ◽  
European Court Of Justice ◽  
Precipitated Calcium Carbonate ◽  
Bundesrepublik Deutschland ◽  
Court Of Justice ◽  
European Court ◽  
Emissions Trading Scheme ◽  
Commission Regulation ◽  
Trading Scheme ◽  
The Eu

Abstract The aim of this article is to discuss the following judgement of the European Court of Justice in case C-460/15 Schaefer Kalk GmbH & Co. KG v Bundesrepublik Deutschland concerning the EU Emissions Trading Scheme (EU ETS): ‘The second sentence of Article 49(1) of Commission Regulation (EU) No 601/2012 of 21 June 2012 on the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council and point 10(B) of Annex IV to that regulation are invalid in so far as they systematically include the carbon dioxide (CO2) transferred to another installation for the production of precipitated calcium carbonate in the emissions of the lime combustion installation, regardless of whether or not that CO2 is released into the atmosphere.’ [operative part of the judgment].

The EU Emissions Trading Scheme and the Court of Justice: The “High Politics” of Indirectly Promoting Global Standards

2012 ◽  
Vol 13 (11) ◽  
pp. 1247-1268
Author(s):  
Elaine Fahey
Keyword(s):  
Greenhouse Gas ◽  
Emissions Trading ◽  
Civil Aviation ◽  
Eu Ets ◽  
Court Of Justice ◽  
Global Standards ◽  
Emissions Trading Scheme ◽  
Trading Scheme ◽  
Eu Emissions Trading Scheme ◽  
The Eu

The European Union (EU) Emissions Trading Scheme (ETS) is a cornerstone of the European Union's policy to combat climate change and its key tool for the cost-effective reduction of industrial greenhouse gas emissions. Moreover, according to the European Commission, it is the first and biggest international scheme for the trading of greenhouse gas emission allowances, including sophisticated and far-reaching penalties. Notably, however, the scheme arose out of a failure at the international level to agree on global standards. When an amended directive included aviation under this scheme beginning in 2012, it ignited a global controversy that came before the Grand Chamber of the Court of Justice in December 2011. In its decision, the Court and Advocate General explicitly explain that the EU ETS regime arose because of the failure of the International Civil Aviation Organisation (ICAO) to evolve a global regulatory scheme. To some, the decision of the Court of Justice on the EU ETS represents a definitive view on the legality of the EU's ambitions to uphold high environmental standards and to compel others to uphold these standards also.

scholarly journals The Price Determinants of the EU Allowance in the EU Emissions Trading Scheme

2018 ◽  
Vol 10 (11) ◽  
pp. 4009 ◽  
Author(s):  
Chune Chung ◽  
Minkyu Jeong ◽  
Jason Young
Keyword(s):  
Emissions Trading ◽  
Causal Effect ◽  
Forecast Error ◽  
Ghg Emissions ◽  
Relative Effect ◽  
Causality Test ◽  
Coal Price ◽  
Emissions Trading Scheme ◽  
Trading Scheme ◽  
The Eu

The Kyoto Protocol came into effect in 1997 to curb greenhouse gas (GHG) emissions and to address the problem of climate change. The Protocol includes a market-based mechanism designed to offset GHG emissions, called the emissions trading scheme (ETS), allowing companies to “trade” their shortage or surplus allowance. This study examines the determinants of the EU allowance (EUA) price in Phase 3 of the EU ETS (2013–2017). First, the causality between the EUA price and other variables is determined using a Granger causality test. Second, the correlation between the EUA price and each variable is measured using a VECM estimation and an impulse response function. Finally, the relative effect of each variable on the EUA price is determined using a forecast error variance decomposition. The results show that the EUA price has a causal effect on the prices of electricity and natural gas. Second, all variables, except the minimum temperature, show a positive relationship with the EUA price. Furthermore, when unexpected shocks occur, the EUA price shows the highest response to its past price, followed by the electricity price. Third, the past EUA price has the most influence on the EUA price, followed by the coal price.

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