Carbon markets have emerged in recent decades as one of the most important tools for curbing industrial greenhouse gas emissions, but they present a number of novel enforcement challenges when compared with more conventional pollution regulations. These challenges include new regulators with narrow authority, lack of legal precedent, and more. …
Carbon markets have emerged in recent decades as one of the most important tools for curbing industrial greenhouse gas emissions, but they present a number of novel enforcement challenges when compared with more conventional pollution regulations. These challenges include new regulators with narrow authority, lack of legal precedent, and more. …
Europe is undergoing an unprecedented shift in the scale and ambition of climate policy following the announcement of the European Green Deal and the passage of the European Climate Law. European legislators are working on reforms referred to as the ‘Fit for 55’ package, which includes updates to existing regulatory …
The EU is planning to reduce greenhouse gas emissions from road transport and buildings through the Fit for 55 policy package and the Emissions Trading System. This paper identifies who stands to be most affected, and how the proposed Social Climate Fund can contribute to a just transition for EU …
The COVID-19 pandemic has had a profound impact on carbon emissions in Europe. In 2020, emissions from stationary installations covered by the EU Emissions Trading System (EU ETS) declined by 11.4% (surpassing the 9% decrease seen in 2019). Aviation was even more acutely impacted. The risk of a rebound in …
The Oeko Institute along with T&E; has published a report on the integration of maritime transport in the EU emissions trading system (ETS). It looks through the various policy options on the table (the geographical scope, regulated entity, allocation method, use of revenues) as well as examining the compatibility of …
This paper assesses quantitative estimates based on economic modelling studies of the economic and environmental benefits from different forms of international co-ordination on carbon pricing. Forms of international co-ordination include: harmonising carbon prices (e.g. through linking carbon markets), extending the coverage of pricing schemes, phasing out fossil fuel subsidies, developing …
Does unilateral climate change policy cause companies to shift the location of production, thereby creating carbon leakage? In this paper, analyse the effect of the European Union Emissions Trading System (EU ETS) on the geographical distribution of carbon emissions by multinational companies. The empirical evidence is based on unique data …
The European Union’s energy system is decarbonising rapidly. In 2019, emissions from stationary installations covered by the EU Emissions Trading System (EU ETS) declined by 9.1 %. Further reductions are expected in 2020, partially because of the Covid-19 crisis. However, significant further cuts in emissions remain necessary to achieve climate …
The European power sector is at the forefront of decarbonisation of the EU’s economy. Between 1990 and 2019 greenhouse gas emissions from the sector decreased by 44%, with a significant acceleration even before the COVID-19-induced economic crisis. This report explores the current context and opportunities for emission reduction in the …
EU Member States are spending billions of Euros less on climate action through the Emissions Trading System (ETS) than they could, WWF analysis reveals. According to EU Member States’ reporting, of the €13.9 billion total ETS revenues in 2018, one-third - €4.6 billion - was not spent on climate actions …
The European Union (EU) Emissions Trading System (ETS) governs about 40 % of total EU greenhouse gas emissions. It sets a cap on emissions from industrial activities (e.g. power and heat production, cement production, iron and steel production and oil refining), as well as aviation. Based on the latest available …
In this paper the authors develop a model to evaluate first, the market developments in the European Union emissions trading scheme (EU ETS) over 2008–2017 ex-post and second, the performances of main features of the EU ETS reforms that took place in 2018, ex-ante. These developments include the market stability …
In this paper the authors develop a model to evaluate first, the market developments in the European Union emissions trading scheme (EU ETS) over 2008–2017 ex-post and second, the performances of main features of the EU ETS reforms that took place in 2018, ex-ante. These developments include the market stability …
This paper is designed to provide comprehensive details on the carbon markets across the major Asian economies and with specific attention to the Chinese carbon market. Particularly discuss the carbon markets across the major northeast (the People’s Republic of China [PRC], Japan, and the Republic of Korea) Asian economies. Further, …
A patchwork of emissions trading systems (ETSs) currently operate in several jurisdictions, including the EU, Switzerland, South Korea and several US states and Canadian provinces. China has also been experimenting with emissions trading in seven provinces and cities and is setting up a national system that will be much larger …
Improving technology, more efficient operations, better airports and market-based measures have not been enough to mitigate the aviation sector’s growing impacts on the environment, climate and people's health. These are the key findings of a new report, published jointly by the European Aviation Safety Agency (EASA), the European Environment Agency …
Does unilateral climate change policy cause companies to shift the location of production, thereby creating carbon leakage? In this paper, the authors analyse the effect of the European Union Emissions Trading System (EU ETS) on the geographical distribution of carbon emissions of multinational companies. The empirical evidence is based on …
In this paper, the authors develop a model to assess the market stability reserve, a key feature of reforming the European Union’s emissions trading system (EU ETS). Reforms to the EU ETS have been made in the face of a significant, prolonged downturn in the allowance price. The downturn occurred …
This report is part of the ‘Trends and Projections in Europe: 2018: Tracking progress towards Europe’s climate and energy targets,’ package. It is based on the most recent reported and approximated data from EU Member States on greenhouse gas emissions, renewable energy uptake and energy consumption.
The EU Emissions Trading System (EU ETS) is the world’s largest carbon market and has become a model for market-based approaches to reduce greenhouse gas emissions in other world regions. Evaluating and improving its effectiveness thus have been a concern not only for European policymakers but also for the success …
