scholarly journals The Evolution of the Emission Trading System in the EU and Italy in the 2030 Climate and Energy Framework. Brief Notes on Climate Change Litigation

2020 ◽  
Vol 3 (1) ◽  
Keyword(s):  
Climate Change ◽  
Emissions Trading ◽  
Emission Trading ◽  
Eu Ets ◽  
Emission Trading System ◽  
Trading System ◽  
Polluter Pays Principle ◽  
Combat Climate Change ◽  
Eu Emissions Trading System ◽  
The Eu

The EU Emissions Trading System (EU ETS) is an important tool of the EU’s strategy to combat climate change, as it aims to reduce greenhouse gas emissions, according to the “polluter pays” principle. The EU ETS is more effective than environment taxation that has had little application, as it is difficult to determine the amount of tax and how it should be applied to companies and consumers [1].

scholarly journals The EU ETS and Aviation: Evaluating the Effectiveness of the EU Emission Trading System in Reducing Emissions from Air Travel

2021 ◽  
Vol 9 (1) ◽  
pp. 84-120
Author(s):  
A. M. Heiaas
Keyword(s):  
Fuel Consumption ◽  
Emission Trading ◽  
Jet Fuel ◽  
Aviation Industry ◽  
Eu Ets ◽  
Emission Trading System ◽  
Trading System ◽  
Effective Manner ◽  
Starting Point ◽  
The Eu

Over the past 30 years, the aviation industry has seen record-breaking growth whilst enjoying exemptions from most taxes and VAT charges. Currently, the aviation sector is considered one of the fastest-growing greenhouse gas emissions sources. Attempting to reduce these emissions in a cost-effective manner, the EU decided in 2012 to include all flights entering and leaving the EU in their Emission Trading System (EU ETS). It was quickly changed to only include travel within the EU. Nevertheless, as the largest cap-and-trade system in the world, the purpose of the EU ETS is to control the growth of emissions by issuing pollution permit rights. The idea is that by setting an emission ceiling and allowing trade between sectors, emission abatement will happen where it is cheapest and easiest to do. This paper explores whether the EU ETS succeeded in reducing the aviation sector emissions over the period 2012–2018 by employing a General Synthetic Control model to estimate a counterfactual scenario. When using jet fuel consumption as a proxy for emissions, the results indicate that on average the EU ETS led to a 10 per cent increase in jet fuel consumption relative to a scenario where it was not implemented. However, the paper fails to conclude a causal relationship between EU ETS and jet fuel consumption due to drawbacks with the data. Nevertheless, it provides a starting point for future ex-post research concerned with aviation and carbon pricing in the European market.

The Origin, Evolution and Consequences of the EU Emissions Trading System

2009 ◽  
Vol 9 (2) ◽  
pp. 101-122 ◽  
Author(s):  
Jon Birger Skjærseth ◽  
Jørgen Wettestad
Keyword(s):  
Emissions Trading ◽  
Eu Ets ◽  
Trading System ◽  
Eu Member States ◽  
International Climate ◽  
Policy Experiment ◽  
Eu Emissions Trading System ◽  
Emissions Trading System ◽  
The Eu ◽  
Broad Overview

The EU Emissions Trading System (EU ETS) is the cornerstone of EU climate policy, a grand policy experiment, as the first and largest international emissions trading system in the world. In this article, we seek to provide a broad overview of the initiation, decision-making and implementation of the EU ETS so far. We explore why the EU changed from a laggard to a leader in emissions trading, how it managed to establish the system rapidly, and the consequences to date, leading up to the 2008 proposal for a revised ET Directive for the post-2012 period. We apply three explanatory approaches, focusing on the roles of the EU member states, the EU institutions and the international climate regime, and conclude that all three approaches are needed to understand what happened, how and why. This also reveals that what happened in the early days of developing the system had significant consequences for the problems experienced in practice and the prospects ahead.

scholarly journals Price Relationships in the EU Emissions Trading System

2011 ◽  
pp. 212-220 ◽  
Author(s):  
Julien Chevallier
Keyword(s):  
European Union ◽  
Emissions Trading ◽  
Eu Ets ◽  
The European Union ◽  
Trading System ◽  
Trading Scheme ◽  
Price Relationships ◽  
Eu Emissions Trading System ◽  
Emissions Trading System ◽  
The Eu

The European Union Emissions Trading Scheme (EU ETS) constrains industrial polluters to buy/sell CO2 allowances depending on a regional depolluting objective of -8% of CO2 emissions by 2012 compared to 1990 levels. Companies may also buy carbon offsets from developing countries, funding emissions cuts there instead, under a Kyoto Protocol Clean Development Mechanism (CDM). This chapter critically analyzes the price relationships in the EU emissions trading system. The United Nations Framework Convention on Climate Change (UNFCCC) delivers credits that may be used by European companies for their compliance needs. Certified Emissions Reductions (CERs) from CDM projects are credits flowing into the global compliance market generated through emission reductions. EUAs (European Union Allowances) are the tradable unit under the EU ETS. Besides, the EU Linking Directive allows the import for compliance into the EU ETS up to 13.4% of CERs on average. This chapter details the idiosyncratic risks affecting each emissions market, be it in terms of regulatory uncertainty, economic activity, industrial structure, or the impact of other energy markets. Besides, based on a careful analysis of the EUA and CER price paths, this chapter assesses common risk factors by focusing more particularly on the role played by the CER import limit within the ETS.

Interest in carbon markets will rise globally

2018 ◽  
Keyword(s):  
Climate Change ◽  
Emissions Trading ◽  
Emissions Reduction ◽  
Carbon Markets ◽  
Trading System ◽  
Intergovernmental Panel ◽  
Content Type ◽  
Eu Emissions Trading System ◽  
Emissions Trading System ◽  
The Eu

Subject Carbon markets. Significance Prices for carbon allowances in the EU Emissions Trading System (ETS) have risen this year, reviving interest in carbon markets as a means of combatting climate change. With a report from the UN Intergovernmental Panel on Climate Change (IPCC) last month calling for drastic action to slash emissions by 2030, that interest could rise further. Impacts Some 88 countries are considering carbon pricing to meet emissions reduction commitments. Growing interest in ETS may trigger a revival of fraudulent schemes around the carbon market. Renewed concerns over higher carbon allowance prices will make it harder to agree reduction targets.

Climate Policy between Activism and Rationalism

2010 ◽  
Vol 32 (1) ◽  
Author(s):  
Till Requate
Keyword(s):  
Climate Policy ◽  
Emissions Trading ◽  
Renewable Energy Sources ◽  
Emission Trading ◽  
Energy Sources ◽  
Emission Trading System ◽  
Trading System ◽  
European Climate ◽  
Policy Measures ◽  
The Eu

AbstractThis article discusses German and European climate policy, inquiring mainly whether the ambitious goals the EU has set itself can be achieved via the instruments presently employed for the purpose and whether these instruments are efficient. In particular we discuss shortcomings of the European emission trading system, we further level criticism at energy policy measures, notably subsidization for renewable energy sources and the overlap with emissions trading. Further we argue that while 20% reduction of CO

Fixing the EU Emissions Trading System? Understanding the Post-2012 Changes

2010 ◽  
Vol 10 (4) ◽  
pp. 101-123 ◽  
Author(s):  
Jon Birger Skjærseth ◽  
Jørgen Wettestad
Keyword(s):  
Climate Policy ◽  
Emissions Trading ◽  
Eu Ets ◽  
Trading System ◽  
International Climate ◽  
Energy And Climate Policy ◽  
Eu Emissions Trading System ◽  
Emissions Trading System ◽  
The Eu ◽  
International Climate Negotiations

This article explains why the significant changes in the EU Emissions Trading System (EU ETS) for the 2013–2020 phase were adopted in 2008. The combination of a more stringent EU-wide cap, allocation of emission allowances for payment, and limits on imports of credits from third countries have strengthened the system for the post-2012 period. This will promote reduction in greenhouse gases compared to the old system. The main reasons for these changes are, first, changes in the positions of the member states due to unsatisfactory experience with performance of the EU ETS so far. Second, a “package approach” where the EU ETS reform was integrated into wider energy and climate policy facilitated agreement on the changes. Third, changes in the position of nonstate actors and a desire to affect the international climate negotiations contributed to the reform.

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