The European Union's Emissions Trading System is the largest system in the world for trade in greenhouse gases. It used to be a cap-and-trade scheme with a fixed supply of permits. However, a recent reform of the system "punctures the waterbed" by making the supply of permits endogenous. The...

Intro -- Contents -- Figures and Tables -- Acronyms -- Preface -- Introduction -- The Cost of Climate Policy -- 1 The Climate Change Threat: Why Reduce GHG Emissions? -- 2 The Challenges of Estimating Emission Reduction Costs -- 3 A Method for Estimating Policy Costs -- 4 National Estimates -- 5...

Die Welt steht vor der Herausforderung einer Transformation zu nachhaltigen Energiesystemen. Für verbesserte Energieeffizienz und die Umstellung auf erneuerbare Ener-gien müssen hohe Anfangsinvestitionen getätigt werden. Diese Investitionen beinhalten zugleich große Chancen, da im Zuge der...

Climate change is one of the greatest contemporary threats to our planet's environmental, social and economic well-being, accompanied by major changes in life support systems on Earth, where the far-reaching effects will be felt in the coming decades. The Earth's climate is warming rapidly due...