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Explaining the EUA-CER spread
Gronwald, Marc; Hintermann, Beat - 2016
Because of a link between the EU ETS and the Kyoto Flexible Mechanisms, the emission certificates traded on these markets are in principle interchangeable assets; despite of this, a persistent price difference exists. We explain this price spread using a theoretical model that combines three...
Persistent link: https://www.econbiz.de/10011436163
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Carbon Leakage and capacity-based allocations : is the EU right?
Meunier, Guy; Ponssard, Jean-Pierre; Quirion, Philippe - 2012
based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best … output and capacity based allocation is proved to be the optimal second best policy. The EU scheme for 2013-2020 is discussed …, using cement as a case study. -- cap and trade ; output based allocation ; subsidization of capacity ; climate policy …
Persistent link: https://www.econbiz.de/10009687241
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Emission targets and coalition options for a small, ambitious country : an analysis of welfare costs and distributional impacts for Norway
Fæhn, Taran; Yonezawa, Hidemichi - 2021
We theoretically and numerically analyse the impacts for a small, open country with carbon abatement ambitions of joining a coalition with allowance trading. Besides welfare impacts for both the coalition and the small, open economy joining the coalition, we scrutinise how the studied policy...
Persistent link: https://www.econbiz.de/10012428926
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Carbon pricing in the EU : evaluation of different EU ETS reform options
Brink, Corjan; Vollebergh, Herman R. J.; Van der Werf, Edwin - 2015 - This version: November 24, 2015
This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to EU ETS. We use a dynamic computable general equilibrium model that explicitly allows...
Persistent link: https://www.econbiz.de/10011392634
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Endogenous emission caps always induce a green paradox
Gerlagh, Reyer; Heijmans, Roweno; Rosendahl, Knut Einar - 2019
For any emission trading system (ETS) with quantity-based endogenous supply of allowances, there exists a negative demand shock, e.g. induced by abatement policy, that increases aggregate supply and thus cumulative emissions. We prove this green paradox for a general model and then apply it to...
Persistent link: https://www.econbiz.de/10012105543
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Carbon prices are redundant in the 2030 EU climate and energy policy package
Aune, Finn Roar; Golombek, Rolf - 2018
In June 2018, an agreement between key EU institutions - the Commission, the European Parliament, and the European Council - was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a comprehensive assessment of the EU package, with its...
Persistent link: https://www.econbiz.de/10011933893
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Carbon tariffs revisited
Böhringer, Christoph; Müller, André; Schneider, Jan - 2014
Concerns about adverse impacts on domestic energy-intensive and trade-exposed (EITE) industries are at the fore of the political debate about unilateral climate policies. Tariffs on the carbon embodied in imported goods from countries without emission pricing appeal as a measure to reduce carbon...
Persistent link: https://www.econbiz.de/10010259986
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Advancing global carbon abatement with a two-tier climate club
Iverson, Terrence - 2022
A two-tier climate club exploits the comparative advantage of large countries to mete out punishments through trade, while taking their capacity to resist punishment as a constraint. Countries outside the coalition price carbon at a fixed fraction of the average carbon price adopted within the...
Persistent link: https://www.econbiz.de/10013285515
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Sequencing carbon dioxide removal into the EU ETS
Sultani, Darius; Osorio, Sébastian; Günther, Claudia; … - 2024 - This version: June 2024
Novel Carbon Dioxide Removal (CDR) technologies have seen a first wave of deployment, driven by investments through voluntary carbon markets and by specific support policies. To sustain the momentum, a credible long-term policy path is urgently needed to lead removal technologies through the...
Persistent link: https://www.econbiz.de/10014556744
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EU ETS, free allocations and activity level thresholds : the devil lies in the detail
Branger, Frédéric; Ponssard, Jean-Pierre; Sartor, Oliver - 2015
allocation to low-activity installations, for installations operating below the threshold, the financial gain from increasing …) relative to a scenario without ALTs, but this gain is small compared to an output based allocation method, which would further … reduce overallocation by 40 million allowances (29% of total cement sector free allocation). Firms responded …
Persistent link: https://www.econbiz.de/10011280851