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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
With the new rules of the EU ETS, involving cancellation of allowances, cumulative emissions are no longer fixed but depending on the market outcome. Perino (2018) showed that additional abatement effort can reduce cumulative emissions if it occurs within a few years. This article shows that...
Persistent link: https://www.econbiz.de/10012022186
is a step in the right direction, though the climate, fiscal, health, and net economic benefits are limited. There are …, while sacrificing little in terms of climate benefits. Under higher, but still plausible, environmental damage assumptions …
Persistent link: https://www.econbiz.de/10011422569
closely interlinked with global environmental problems, above all, anthropogenic climate change. This survey provides a …
Persistent link: https://www.econbiz.de/10013370320
This paper empirically studies how emission pricing affects capital replacement and adoption of embodied environmental technology. A pricing policy encourages firms to accelerate retirement of old capital assets and replace them with newer more efficient assets, but this may crowd out...
Persistent link: https://www.econbiz.de/10013359048
The ECT hinders EU climate and investment policy objectives. This piece explores the low likelihood of successful …
Persistent link: https://www.econbiz.de/10013234124
since ancient times, air pollution still leads to millions of avoidable deaths and significantly impacts the climate. Today … and the effects on climate change as a global health risk. But what is the exact status of the RBCA and who can claim …-European context and to shed light on the possibilities of its implementation and enforcement, also in connection with climate justice …
Persistent link: https://www.econbiz.de/10013234485
There is growing interest in international coordination over climate mitigation policy. Climate clubs or international … packages. This paper presents and illustrates a methodology for converting climate mitigation policies and targets into their …
Persistent link: https://www.econbiz.de/10014264224
I document trends in emissions and emission disclosure for a sample of 141 large firms that were active within the EU Emissions Trading System during its third phase (2013-2019). Using text from annual reports, I document a rising share of emissions-related information. However, my measure of...
Persistent link: https://www.econbiz.de/10013383379
effects of natural disasters across different countries. A key implication of our findings is that climate change is likely to …
Persistent link: https://www.econbiz.de/10012671834