The central pillar of European climate policy, the European Emissions Trading System (EU ETS), is currently under scrutiny, as the allowance price is persistently low at around 5€/tCO2. The cap was met and emissions actually declined in recent years, ensuring the environmental effectiveness of...

The price of EU allowances (EUAs) in the EU Emissions Trading Scheme (EU ETS) fell from almost 30€/tCO2 in mid-2008 to less than 5€/tCO2 in mid-2013. The sharp and persistent price decline has sparked intense debates both in academia and among policy-makers about the decisive allowance price...

This paper synthesizes the results from the model intercomparison exercise among regionalized global energy-economy models conducted in the context of the RECIPE project. The economic adjustment effects of long-term climate policy are investigated based on the cross-comparison of the...

Emission leakage could potentially undermine the effectiveness of unilateral climate policies. Significant emission transfers from developing countries to developed countries in the form of emissions embodied in trade have been interpreted as an indication of such leakage. To reduce leakage and...

This paper presents results from a model intercomparison exercise among regionalized global energy-economy models conducted in the context of the RECIPE project. The economic adjustment effects of long-term climate policy aiming at stabilization of atmospheric CO2 concentrations at 450 ppm are...

Die Zweifel wachsen, ob allein die Höhe und der Verlauf des Bruttoinlandsprodukts ausreichen, den Wohlstand einer Gesellschaft zu messen. Um diese Frage zu diskutieren, hatte der Deutsche Bundestag Anfang 2011 eine Enquete-Kommission eingerichtet, die im Frühjahr 2013 ihren Abschlussbericht...

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The outcome from the December 2012 climate negotiations in Doha has clarified the rules regarding surplus units for the Kyoto Protocol. We summarize these new rules and estimate the resulting effective emissions during the second commitment period using our unit trade model. Other options to...

This article provides further detail on expected global GHG emission levels in 2020, based on the Emissions Gap Report (United Nations Environment Programme, December 2010), assuming the emission reduction proposals in the Copenhagen Accord and Cancun Agreements are met. Large differences are...