This paper investigates the impact of the European Union’s Emission Trading System (EU ETS) at a firm level. Using panel data on the emissions and performance of more than 2000 European firms from 2005 to 2008, we are able to analyse the effectiveness of the scheme. The results suggest that...

Carbon dioxide capture and storage (CCS) is considered to be an important option for reducing carbon dioxide (CO2) emissions. However, there are still concerns about its economic viability, especially if the risk of leakage in the storage site is taken into account. We use a real options...

The aim of this paper is to enunciate a new way to estimate levelized cost of electric energy (LCOE), considering emission of greenhouse gases cost, by taking the theoretical cost of avoiding pollution as the emission cost. In this way, it would be comparable LCOE from different sources of...

In the absence of a global carbon price, many individual countries set up policies to incentivize specific abatement interventions. In turn, minimizing compliance cost requires policy-makers to identify interventions that are worth pursuing. With this in mind, the objective of this paper is to...

Sustainable finance is simply the alignment of the financial system with principles of sustainability. Investments in climate change mitigation and reduction in greenhouse gases emisiions constitute the largest number of sustainable finance investments. A good number of countries have set up...

Die Rubrik »Kurz zum Klima« erscheint nun bereits seit drei Jahren mit nahezu 60 Ausgaben. Dieser Beitrag greift drei Themen aus den Bereichen Energie-, Klima- und Umweltpolitik – das Reserven-Produktions-Verhältnis, die weltweite CO2-Reduktion und das Problem der Überfischung – erneut...

Im Dezember 2011 startete eine Kampagne des Bundeswirtschaftsministeriums unter dem Motto »Kraftwerke? Ja bitte!«. Um im Zuge der Energiewende und des Atomausstiegs weiterhin Versorgungssicherheit und bezahlbaren Strom zu gewährleisten, seien neue Kohle- und Gaskraftwerke unabdinglich. In...

This study attempts a numerical simulation of potential CCS (carbon dioxide capture and storage) use by using a modified version of the DICE (Dynamic Integrated model on Climate and Economy) model (Nordhaus, 1994; Nordhaus and Boyer, 2000). In DICE, CO2 emissions are controlled to the extent in...

Policies of lowering carbon demand may aggravate rather than alleviate climate change (green paradox). In a two-period three-country general equilibrium model with finite endowment of fossil fuel one country enforces an emissions cap in the first or second period. When that cap is tightened the...