Climate change poses a huge threat to human welfare. Hence, developing a low-carbon economy has become a prevailing and inevitable trend. Decarbonization of power generation, especially converting the current power mix into a low-carbon structure, will be a critical option for CO2 emission...

Environmental awareness and its relation to the development of economy have garnered increased attention in recent years. This study analyzes the long-run relationship between environment degradation, economic growth, total energy consumption and industrial production index growth in Malaysia...

ResumenEn este trabajo se examina el marco regulatorio establecido por la Convención Marco sobre Cambio Climático, el Protocolo de Kioto y sus Mecanismos de Flexibilidad, entre ellos el Mecanismo de Desarrollo Limpio (MDL) y el sistema europo de Comercio de Derechos de Emisión (EU ETS)....

In 2005 the European Union (EU) began the first phase of the largest and most ambitious emissions trading system (EU ETS) ever attempted, which then applied to all members of the EU. In its second phase which began in 2008 the EU ETS now applies to all 27 members of the EU together with Norway,...

The allowance price in Phase I of the European Union Emissions Trading Scheme (EU ETS) followed a peculiar path, increasing from €7 in 2005 to over €30 in 2006, before crashing, recovering and ultimately finishing at zero by the end of 2007. I examine if the price can be explained by...

This thesis addresses the high-frequency price formation in the European Union Emissions Trading Scheme (EU ETS). In particular, it deals with high-frequency price reactions of European Union Allowances (EUAs) to scheduled macroeconomic and regulatory announcements. The work incorporates several...

Global warming is becoming a big problem and carbon emissions from a variety of sources are the cause of it. To control emission, a number of carbon emission reduction policies and schemes such as the Kyoto Protocol & COP15 treaty have been reached and put in place. However, not all countries...

This paper addresses the political acceptability and workability of CDM by and in developing countries. At COP-3 in Kyoto in 1997, the general position among developing countries changed from strong rejection of joint implementation to acceptance of CDM. The outgrowth of CDM from a proposal from...

When regulators put forward new economic or regulatory policies, there is a need to compare the costs and benefits of these new policies to existing policies and other alternatives to determine which policy is most cost-effective. For command and control policies, it is quite difficult to...

Studies of the costs of climate change policies have utilized a variety of measures or metrics for summarizing costs. The leading economic models have utilized GNP, GDP, the ''area under a marginal cost curve,'' the discounted present value of consumption, and a welfare measure taken directly...