To date, the European Union has been at the forefront of international climate protection. But there are now a number of other countries also pursuing a proactive energy and climate policy. They are increasingly investing in renewable energies, exploiting potential energy efficiencies in...

Nearly every carbon price regulates the production of carbon emissions, typically at midstream points of compliance, such as a power plant. Over the last six years, however, policymakers in Australia, California, China, Japan, and Korea implemented carbon prices that regulate the consumption of...

We examine under which conditions a cap-and-trade mechanism can deliver a dynamically efficient abatement pathway and contribute to a robust investment framework. For this we develop a numerical dynamic partial-equilibrium model that includes differentiated objective functions of different...

Der europäische Emissionshandel soll Emissionen von Treibhausgasen vermindern und Investitionen in klimafreundliche Technologien unterstützen. Allerdings können mehrere Markthemmnisse dazu führen, dass der Emissionshandel aufgrund der großen Überschüsse an Emissionszertifikaten eine...

The European Union Emission Trading Scheme (EU ETS) has been implemented to provide a common climate policy instrument across European Union countries, to contribute to a credible investment perspective for low-carbon investors and support further European integration of energy markets. Thus the...

Climate protection is a global challenge that all countries have a common but differentiated responsibility to address. However, not all governments are willing to commit to targets of equal stringency, and individual countries may put different emphases on carbon pricing in their policy mix....

Klimaschutz ist eine globale Herausforderung, für deren Bewältigung alle Länder eine gemeinsame, aber differenzierte Verantwortung tragen. Einzelne Länder setzen in ihrem Politikmix jedoch unterschiedlich stark auf die Bepreisung von CO2, so dass sich die CO2-Preise in verschiedenen Ländern...

A world of unequal carbon prices requires measures aimed at preventing carbon leakage. Climate policy imperatives demand that such measures must be compatible with the goal of sending a carbon price signal down the value chain. For carbon intensive materials, the combination of dynamic free...

Die europäische Union gehört bisher zu den Vorreitern beim Klimaschutz. Ein internationaler Vergleich zeigt, dass es mittlerweile eine Reihe von weiteren Ländern gibt, die ebenfalls eine aktive Energie- und Klimapolitik verfolgen. Sie investieren zunehmend in erneuerbare Energien,...