Jointly implemented Renewable Fuel Standard (RFS) with the state Renewable Portfolio Standards (RPSs) can interact in complex ways that affect the mix of renewable energy and its greenhouse gas (GHG) intensity used to meet the RPS and the mix of fossil fuels displaced as both policies compete...

The United Kingdom's Emissions Trading Scheme has its roots in the European Union Emissions Trading Scheme and these are both hinged on the effectiveness of the “cap and trade system”.The system and the scheme have had their criticisms, especially with regard to their capacity to actually...

The recent implementation of the EU Emissions Trading Scheme (EU ETS) in January 2005 created new financial risks for emitting firms. To deal with these risks, options are traded since October 2006. Because the EU ETS is a new market, the relevant underlying model for option pricing is still a...

Emissions trading has become a key component of U.S. environmental legal regimes. The U.S. has successfully lobbied to make international environmental benefit trading, an expanded form of emissions trading, a part of international efforts to address the threat of global climate change through...

This paper explores the incentives for energy efficiency induced by the European Union Emissions Trading Scheme (EU ETS) for installations in the energy and industry sectors. Our analysis of the National Allocation Plans for 27 EU Member States for phase 2 of the EU ETS (2008-2012) suggests that...