The aim of this paper is to find out whether shareholders consider the EU Emission Trading Scheme (EU ETS) as value relevant for polluting firms. An analysis is conducted of changes in share prices, caused by the first publication of annual compliance data. In April 2006, it turned out that...

A sub-global emissions trading scheme (ETS) risks harming competitiveness and causing carbon leakage. These concerns cast doubt on the efficiency and environmental effectiveness of unilateral climate policies. ETSs implemented thus far include measures to address competitiveness and leakage...

Emissions trading systems (ETSs) are emerging around the globe in response to climate change concerns. A severe side effect that may flow from an ETS is carbon leakage, which is generally understood as the shift of production to less regulated jurisdictions as a result of carbon pricing policy,...

This paper examines empirically whether differences in legal competences of National Regulatory Authorities (NRAs) of European gas and electricity markets are rationally aligned to the corresponding countries' divergent levels of 1) security, 2) competitiveness, and 3) carbon-neutrality of...

This article presents a market-based idea to compensate for earthquake damage caused by the extraction of natural gas and applies it to the case of Groningen in the Netherlands. Earthquake certificates give homeowners a right to yearly compensation for both property damage and degradation of...

Dutch Abstract: Deze oratie van hoogleraar Edwin Woerdman, uitgesproken op 26 maart 2019 aan de Rijksuniversiteit Groningen, bevat diverse hypothesen. Een nationale CO2-heffing bovenop het Europese emissiehandelssysteem leidt ertoe dat de samenleving straks meer betaalt voor emissiereducties die...

End-User Emissions Trading (EET) refers to an emissions trading scheme for individuals, for instance on an EU-wide scale. Such a personal carbon trading scheme is targeted towards (a) reducing the release of greenhouse gases from energy and fuel consumption and (b) towards incentivizing...