scholarly journals Inclusion of Shipping in the EU-ETS: Assessing the Direct Costs for the Maritime Sector Using the MRV Data

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3915
Author(s):  
Anastasia Christodoulou ◽  
Dimitrios Dalaklis ◽  
Aykut I. Ölçer ◽  
Peyman Ghaforian Masodzadeh
Keyword(s):  
Economic Impact ◽  
Emission Trading ◽  
Assessment Model ◽  
European Economic Area ◽  
Eu Ets ◽  
The European Union ◽  
Maritime Industry ◽  
Effective Inclusion ◽  
Carbon Dioxide Co2 ◽  
The Eu

This paper aims to assess the direct economic impact on the maritime sector from its inclusion in the European Union-Emission Trading System (EU-ETS). The Monitoring, Reporting and Verification (MRV) data are analysed for the estimation of carbon dioxide (CO2) emissions within the European Economic Area (EEA). The economic impact assessment model used is scenario-based, and includes different price incentives, geographical coverage and emission allowances allocation methods. According to our findings, in case the emission allowances are fully auctioned or partially free allocated on the basis of a uniform benchmark, the increased costs would be disproportional among the maritime segments. Such a scheme would penalise Roll-on/Roll-off (RoRo) and Roll-On/Roll-Off/Passenger (RoPax) segments due their high fuel consumption per transport work in relation to oil tankers and bulkers. The establishment of differentiated benchmarks per segment seems to be a prerequisite for the effective inclusion of shipping in the EU-ETS that will reward energy efficient vessels in each segment and avoid competition distortion within the maritime industry.

scholarly journals An Assessment of Carousel Value-Added Tax Fraud in The European Carbon Market

2017 ◽  
Vol 13 (2) ◽  
Author(s):  
Maria Berrittella ◽  
Filippo Alessandro Cimino
Keyword(s):  
Computable General Equilibrium ◽  
Emission Trading ◽  
Value Added ◽  
Carbon Market ◽  
Eu Ets ◽  
The European Union ◽  
Value Added Tax ◽  
Member States ◽  
Eu Member States ◽  
The Eu

AbstractThe literature on the European Union Emission Trading System (EU ETS) is by now very rich. Much is known about the efficiency, the effectiveness, and the environmental and distributional impacts of the EU ETS. Less, however, is known about the carousel value-added-tax (VAT) fraud phenomena in the European carbon market. This article evaluates the welfare effects of carousel VAT fraud in the EU ETS using a computable general equilibrium (CGE) analysis. According to our findings, if VAT fraud occurs in the EU ETS, the effects on welfare for the EU Member States are negative, with welfare loss significantly higher than the VAT fraud value. This article also discusses the reverse charge mechanism that EU Member States could adopt to reduce the VAT fraud phenomena in the European carbon market.

The EU Influence on Norwegian Domestic Legislation for the Protection of the Arctic Marine Environment

2018 ◽  
Vol 33 (2) ◽  
pp. 415-435 ◽  
Author(s):  
Elise Johansen
Keyword(s):  
European Union ◽  
Marine Environment ◽  
The Arctic ◽  
European Economic Area ◽  
The European Union ◽  
Environmental Legislation ◽  
Economic Area ◽  
Domestic Legislation ◽  
Marine Areas ◽  
The Eu

Abstract In the last several decades, the European Union (EU) has demonstrated its intention to play an important role in supporting Arctic cooperation and helping to meet the challenges now facing the region. Norway, one of the five Arctic coastal states, and the EU have cooperated closely in this regard, particularly through the Agreement on the European Economic Area (EEA Agreement). This article examines how Norway’s domestic legislation applicable to its Arctic marine areas has been influenced by the development of EU environmental legislation. Specifically, this paper provides a discussion and analysis of the relevant Norwegian laws and mechanisms used to regulate how EU environmental legislation has been incorporated into Norway’s domestic legislation through the EEA Agreement.

scholarly journals The Effectiveness and Cost-Effectiveness of Hepatitis C Screening for Migrants in the EU/EEA: A Systematic Review

2018 ◽  
Vol 15 (9) ◽  
pp. 2013 ◽  
Author(s):  
Christina Greenaway ◽  
Iuliia Makarenko ◽  
Claire Abou Chakra ◽  
Balqis Alabdulkarim ◽  
Robin Christensen ◽  
...  
Keyword(s):  
Cost Effectiveness ◽  
Hepatitis C ◽  
Lower Risk ◽  
Linkage To Care ◽  
Cost Effective ◽  
Screening Tests ◽  
European Economic Area ◽  
The European Union ◽  
Wide Range ◽  
The Eu

Chronic hepatitis C (HCV) is a public health priority in the European Union/European Economic Area (EU/EEA) and is a leading cause of chronic liver disease and liver cancer. Migrants account for a disproportionate number of HCV cases in the EU/EEA (mean 14% of cases and >50% of cases in some countries). We conducted two systematic reviews (SR) to estimate the effectiveness and cost-effectiveness of HCV screening for migrants living in the EU/EEA. We found that screening tests for HCV are highly sensitive and specific. Clinical trials report direct acting antiviral (DAA) therapies are well-tolerated in a wide range of populations and cure almost all cases (>95%) and lead to an 85% lower risk of developing hepatocellular carcinoma and an 80% lower risk of all-cause mortality. At 2015 costs, DAA based regimens were only moderately cost-effective and as a result less than 30% of people with HCV had been screened and less 5% of all HCV cases had been treated in the EU/EEA in 2015. Migrants face additional barriers in linkage to care and treatment due to several patient, practitioner, and health system barriers. Although decreasing HCV costs have made treatment more accessible in the EU/EEA, HCV elimination will only be possible in the region if health systems include and treat migrants for HCV.

scholarly journals How to Reach the New Green Deal Targets: Analysing the Necessary Burden Sharing within the EU Using a Multi-Model Approach

Energies ◽  
2021 ◽  
Vol 14 (23) ◽  
pp. 7971
Author(s):  
Felix Kattelmann ◽  
Jonathan Siegle ◽  
Roland Cunha Montenegro ◽  
Vera Sehn ◽  
Markus Blesl ◽  
...  
Keyword(s):  
Emission Trading ◽  
Energy System ◽  
Burden Sharing ◽  
Total System ◽  
The European Union ◽  
System Perspective ◽  
Energy System Model ◽  
Eu Member States ◽  
Computational General Equilibrium ◽  
The Eu

The Green Deal of the European Union defines extremely ambitious climate targets for 2030 (−55% emissions compared to 1990) and 2050 (−100%), which go far beyond the current goals that the EU member states have agreed on thus far. The question of which sectors contribute how much has already been discussed, but is far from decided, while the question of which countries shoulder how much of the tightened reduction targets has hardly been discussed. We want to contribute significantly to answering these policy questions by analysing the necessary burden sharing within the EU from both an energy system and an overall macroeconomic perspective. For this purpose, we use the energy system model TIMES PanEU and the computational general equilibrium model NEWAGE. Our results show that excessively strong targets for the Emission Trading System (ETS) in 2030 are not system-optimal for achieving the 55% overall target, reductions should be made in such a way that an emissions budget ratio of 39 (ETS sector) to 61 (Non-ETS sector) results. Economically weaker regions would have to reduce their CO2 emissions until 2030 by up to 33% on top of the currently decided targets in the Effort Sharing Regulation, which leads to higher energy system costs as well as losses in gross domestic product (GDP). Depending on the policy scenario applied, GDP losses in the range of −0.79% and −1.95% relative to baseline can be found for single EU regions. In the long-term, an equally strict mitigation regime for all countries in 2050 is not optimal from a system perspective; total system costs would be higher by 1.5%. Instead, some countries should generate negative net emissions to compensate for non-mitigable residual emissions from other countries.

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.

BETWEEN SPLENDID ISOLATION AND TENTATIVE IMPERIALISM: THE EU'S EXTENSION OF ITS EMISSION TRADING SCHEME TO INTERNATIONAL AVIATION AND THE ECJ'S JUDGMENT IN THE ATA CASE

2012 ◽  
Vol 61 (4) ◽  
pp. 977-991 ◽  
Author(s):  
Andrea Gattini
Keyword(s):  
Emission Trading ◽  
Leadership Role ◽  
Emission Trading Scheme ◽  
The European Union ◽  
Industrial Sectors ◽  
Strategic Issue ◽  
Trading Scheme ◽  
Splendid Isolation ◽  
The Eu ◽  
Energy Package

For the last 15 years the European Union (EU) has been particularly active, both internally and internationally, in the fight against global warming, and it is determined to continue to play a global leadership role in this strategic issue. Among the various market-based measures decided upon, the Emission Trading Scheme (ETS) for energy-intensive industrial sectors has been rightly described as the ‘flagship of the EU climate policy’.1 Even before proceeding to a general overhauling of Directive 2003/87 in the framework of the 2009 Climate and Energy package, the EU had decided to modify the Directive by including aviation activities in the ETS. Directive 2008/1012 provides that all flights from whichever aircraft operator taking off from or landing in the EU territory will be subjected to the ETS from 1 January 2012. For the year 2012 97 per cent of all emissions allowances will be freely assigned, from 2013 the amount will decrease to 95 per cent, whereas 15 per cent of all allowances will be auctioned. In reality the percentage of free allowances is much lower, about 60 per cent, because it takes as parameter the historical aviation emissions of the years 2004–06, when the air traffic was 40 per cent lower than it is now. The idea underlying the Directive is that aircraft operators will either purchase the necessary allowances in the market or will try to reduce their emissions by using bio-fuels (or else reducing the number of flights), with the second option becoming more economically attractive over time.

scholarly journals Time-Varying Impacts of Carbon Price Drivers in the EU ETS: A TVP-VAR Analysis

2021 ◽  
Vol 9 ◽  
Author(s):  
Peng Li ◽  
Hao Zhang ◽  
Yongna Yuan ◽  
Aimin Hao
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Carbon Price ◽  
Paris Agreement ◽  
Fine Tuning ◽  
Time Varying ◽  
Eu Ets ◽  
The European Union ◽  
Oil Gas ◽  
The Eu

This study analyzes the impacts of different drivers on the pricing of EU carbon futures in various periods by using the time-varying parameter vector autoregressive (TVP-VAR) model. The results indicate that: (1) The relationships between oil, gas, electricity, stock prices and carbon price have significant time-varying characteristics and those relationships have experienced an inversion in 2016. This might be due to the pressure of achieving the “EU 20-20-20” targets and the signing of the Paris Agreement as well as the fine-tuning of the European Union Emissions Trading Scheme (EU ETS). (2) The impacts of different drivers on carbon price are various. The carbon price is more sensitive to oil, gas, electricity prices as well as the stock price before the inversion in the short-term, while its response to changes in the stock price after the inversion is more obvious in the mid-long term. (3) After the signing of the Paris Agreement in the second quarter of 2016, the carbon price has a greater response to changes in its drivers. The oil price’s impact on carbon price became the most significant one among them.

scholarly journals Trends and Variation in Data Quality on the EU Clinical Trials Register: A Cross-Sectional Study

2021 ◽  
Author(s):  
Nicholas J DeVito ◽  
Ben Goldacre
Keyword(s):  
Data Quality ◽  
Cross Sectional Study ◽  
European Economic Area ◽  
The European Union ◽  
Cross Sectional ◽  
Reporting Requirements ◽  
Regulatory Purpose ◽  
Public Dataset ◽  
Clinical Trial Register ◽  
The Eu

The EU Clinical Trial Register (EUCTR) is a public facing portal containing information on trials of medicinal products conducted in the European Union (EU) and European Economic Area (EEA). Today, the registry holds information on over 30,000 trials. Given its distinct regulatory purpose, and results reporting requirements, the EUCTR should be a valuable open-source hub for trial information. Past work examining the EUCTR has suggested that data quality on the registry may be lacking. Using the full EUCTR public dataset, we examined areas in which national regulators are expected to ensure data quality including the posting of registrations, updating trial completion information, and monitoring results posting in line with EU guidelines. We identified issues across all areas examined with notable research hubs like France, Spain, and The Netherlands lacking consistent and complete data on the registry. These deficiencies complicate the utility of the EUCTR for research, transparency, and accountability efforts.

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