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1
Aydos, Elena De Lemos Pinto. "Who is [not] paying the carbon price? The subsidisation of heavy polluters under emissions trading schemes." Thesis, The University of Sydney, 2016. http://hdl.handle.net/2123/15777.
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In the absence of a comprehensive and legally binding international agreement on global emissions reduction, the free of cost allocation of permits has been a political condition of the acceptance of Emissions Trading Schemes (ETSs) in most jurisdictions. As a consequence, up to now, many heavy polluters participating in the ETSs are not paying the full price of carbon. The extent to which pricing carbon affects specific sectors in practice remains unclear in most jurisdictions. In this thesis, I bring together and analyse the economics and legal literature in relation to free allocations. A detailed comparison of the free allocation mechanisms utilised in three ETS systems is then undertaken in order to make recommendations for scheme design rules that will be legally robust and will support the effectiveness of the ETSs, whilst limiting any negative impacts on international trade. Based on a systematic analysis of the available economic data, I observe that carbon leakage rates have been historically overestimated. As a result, governments have been providing free permits to a number of sectors which are not significantly exposed to carbon leakage. Furthermore, the inconsistent eligibility criteria for the free allocation of permits can distort trade between competitors liable under independent schemes. However, such trade distortions may be mitigated by harmonising the free allocation methodologies.The harmonisation process may take place under a linking agreement and should follow a best practice approach, avoiding the eligibility of an excessive number of sectors as carbon leakage exposed. I suggest in this thesis that cumulative criteria of high emission-intensity and high trade-exposure thresholds are recommended, along with the removal of any sole trade-exposure thresholds and sole emissions-intensity thresholds.Differences in the free allocation methodologies can raise legitimate concerns that such allocations can interfere with free trade, thereby invoking the various mechanisms of the World Trade Organization (WTO). I argue that the free allocation of permits is a subsidy according to the definition provided by Article 1.1(a)(1) of the Agreement on Subsidies and Countervailing Measures (SCM Agreement). Subsidies generally represent an unnecessary cost to society and may compromise the fairness of the ETS. I conclude that the European Union Emissions Trading System’s sole emissions-intensity threshold is a de facto specific subsidy, and that it may be actionable if it has adverse effects on the interests of other WTO Members. Furthermore, I argue that the free allocation of permits, based on a trade-exposure threshold, is subject to the notification rule provided by Article XVI, A(1) of the General Agreement on Tariffs and Trade. The European Union has been notably failing to comply with this requirement.
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Jooste, Dustin. "Emissions trading scheme for South Africa : opportunities and challenges." Thesis, Stellenbosch : Stellenbosch University, 2012. http://hdl.handle.net/10019.1/79330.
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ENGLISH ABSTRACT: This research report aims to determine whether an emissions trading scheme or carbon tax is the
most suitable market-based emissions reduction mechanism for South Africa, given its multiple
environmental, social and economic objectives. Key factors considered in this comparison include:
environmental effectiveness; economic efficiency; social welfare impacts; public finance
considerations; administrative complexity and costs; and, finally, the relationship to global
greenhouse gas reduction mechanisms. These factors are compared in the short and long term to
determine which mechanism is most likely to deliver South Africa’s emissions reduction targets
within the given time frames. The comparison of these factors involves a non-empirical literature
review, followed by a rating of the mechanisms in order to distil a best fit in terms of the various
aspects of an effective emissions reduction mechanism, taking into account the specific needs and
conditions of South Africa.
The research found that, in the short term, a carbon tax was best suited to the South African
context. This is because of the fiscal certainty inherent in this mechanism, which provides clear
price signals and a stable public income. However, the reasons for these comparative advantages
over an emissions trading scheme relate to the long lead times and structure of the latter
mechanism, which requires years of implementation and favours environmental effectiveness over
economic efficiency. Further reasons include a lack of understanding and buy-in in terms of
market-based mechanisms, a situation that favours familiarity over effectiveness in some
instances. Taking these issues into account, the research shows that an emissions trading scheme
is better suited to the South African context in the long term. Once properly implemented, this
mechanism provides superior results in terms of the above-mentioned factors, and specifically in
terms of environmental effectiveness and the potential for benefit through international integration.
This research report concludes that the South African government has failed to take a long-term
view of the mechanisms available for emissions reduction, choosing instead to implement a carbon
tax, which favours economic growth at the expense of the environment and future generations. A
general lack of understanding of the structures and opportunity costs of the two mechanisms
necessitates an investigation by government of the applicability and structure of an emissions
trading scheme in the South African context before market-based mechanisms can play an
effective part in the future development of the country’s environmental regulatory regime.
3
Liu, Xin. "Emission Trading For China : the inspiration from the European Union Emissions Trading Scheme." Thesis, KTH, Industriell ekologi, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-58643.
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How to avoid and deal with dangerous climate change, which will have catastrophic economic and social consequences, has already become the focus worldwide. From the UNFCCC to the UN Climate Change Conference in Copenhagen, the international community has been trying to find effective means to reduce GHGs. Facing both internal demand and external pressure, as the largest carbon dioxide emitter, China needs to make further efforts to reduce CO2 emissions. So far, emission trading, especially the EU ETS has proved to be a good system to reduce emissions with low cost. In this thesis, the valuable experience and lessons of the EU ETS and the current situation of China are reviewed. The necessity, feasibility and limitations of applying the EU ETS in China are analyzed through comparative study and SWOT – PEST analytical model. In the light of the analysis result that establishing its own emission trading scheme based on the EU ETS will be a good choice for China, several recommendations are put forward concerning both the process of the “Sino ETS” and various stakeholders.
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Link, Christoph, Juliane Stark, Axel Sonntag, and Reinhard Hössinger. "Contribution of an emission trading scheme to reduce road traffic induced CO2 emissions in Austria." Elsevier, 2012. http://dx.doi.org/10.1016/j.sbspro.2012.06.1170.
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The Emission Trading Scheme for green house gases is a key tool of European climate protection. Including the road transport sector might be a promising strategy to limit its CO2 emissions. This could be realized within a common market (trans-sectoral trading permitted) or separated markets (trans-sectoral trading not permitted). Starting from different assumptions on emission reduction objectives, the impact of both options is analyzed using a quantitative model. Although an emission trading scheme is ecologically effective regardless of the trading model, it turns out that CO2 emissions and emission allowance prices differ strongly between both design options due to sector specific price elasticities of allowance demand. (authors' abstract)
5
Minnice, Paul. "Heterogeneous national allocation plans in the EU Emission Trading Scheme under imperfectly competitive markets." Diss., Connect to the thesis, 2009. http://hdl.handle.net/10066/3637.
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Bogojevic, Sanja. "Discourse analysis of emissions trading scholarship : a case study of the EU emissions trading scheme." Thesis, University of Oxford, 2011. http://ora.ox.ac.uk/objects/uuid:4bab5c90-dc00-48ef-88a0-3162f05cf1b1.
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Over the last four decades emissions trading has enjoyed a high profile in environmental law scholarship and in environmental law and policy. Much of this regulatory discussion is promotional, preferring emissions trading above other regulatory strategies without, however, engaging with legal complexities embedded in conceptualising, scrutinising and managing emissions trading schemes. The combined effect of these debates is to create a perception that emissions trading is a straightforward regulatory strategy, imposable across various jurisdictions and environmental settings. This thesis shows that this view of emissions trading is problematic for at least two reasons. First, emissions trading responds to distinct environmental and non-environmental goals, including creating profit-centres, establishing a governance regime aimed at substituting state control of common resources, and ensuring regulatory compliance. This is important, as the particular purpose entrusted to a given emissions trading regime has, as its corollary, a particular governance structure, according to which the regime may be constructed and managed. Second, the governance structures of emissions trading regimes are culture- specific, which is a significant reminder of the importance of law in understanding not only how emissions trading schemes function but also what meaning is given to them as regulatory strategies. This is shown by deconstructing emissions trading discourses: that is, by inquiring into the assumptions about emissions trading that feature in the literature and in debates involving law- and policymakers and the judiciary at the EU level. Ultimately, this thesis makes a strong argument for reconfiguring the common understanding of emissions trading schemes as regulatory strategies, and sets out a framework for analysis to sustain that reconfiguration.
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Kopsch, Fredrik. "Including International Aviation in the EU Emissions Trading Scheme." Licentiate thesis, KTH, Bygg- och fastighetsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-33999.
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Kim, Tae Hee. "The Korean emissions trading scheme : focusing on accounting issues." Thesis, University of Exeter, 2015. http://hdl.handle.net/10871/21690.
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The purpose of this study is to examine the accounting standard-setting process in relation to emissions rights and related liabilities in the Korean context in order to provide a better understanding of accounting issues under an emissions trading scheme (ETS). Using an interpretive inductive approach, this study comprises semi-structured, face-to-face interviews and analysis of relevant documents. Interviews were carried out with a wide range of key players, including accounting standard setters (Korean Accounting Standards Board, International Accounting Standards Board, and Autorité des Normes Comptables), accounting experts, industry and government. This study identifies how problematic accounting issues on emissions rights and related liabilities have been addressed by accounting standard setters. The key accounting issues under ETS are linked mainly with free allowances. It is found that accounting standard setters attempt to establish the most appropriate accounting standard under the given circumstances reflecting a variety of considerations, and that the most common elements affecting the development of accounting standards for ETS are the legal and economic context, the existing accounting framework, and preceding models and practices. Nevertheless, these factors affect the development of accounting standards for ETS in different ways. Accordingly, the primary accounting issues on which each standard setter concentrates vary depending on different circumstances and considerations. This study investigates the accounting standard-setting process for emissions rights by Korean accounting standard setters, from the agenda-setting stage to the final publication of the standard. The findings reinforce the importance of political factors in the standard-setting process, including stakeholders’ participation in the process, prominent stakeholders, and the motivation, methods and timing of lobbying activities. In particular, the findings have important implications for the effectiveness of lobbying. Overall, the findings confirm that accounting standards are likely to be the political outcome of interactions between the accounting standard setter and stakeholders. The findings highlight desirable factors for accounting models of emissions rights. Desirability or appropriateness of standard is judged by the extent to which stakeholders in institutional environments consider the promulgation to be legitimate or authoritative. Therefore, accounting standard setters must make greater efforts to encourage stakeholders to participate in the standard-setting process in order to ensure institutional legitimacy. The originality of this study lies in its empirical research on accounting issues for ETS from a practical point of view. In particular, in its timely and detailed investigation of Korean accounting standard setters, this study provides a broader understanding of the accounting standard-setting process in the Korean context. The study also advances legitimacy theory by offering a framework particularly applicable to accounting standard setting process, which also incorporates stakeholder theory research. The study finds support from the framework and further contributes to the related literature by reviewing legitimacy conflicts. From an accounting policy point of view, the findings have implications for both national and international standard setters and provide guidance on how to achieve high-quality accounting standards with a high degree of compliance.
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Reilly, John M., and Sergey Paltsev. "An Analysis of the European Emission Trading Scheme." MIT Joint Program on the Science and Policy of Global Change, 2005. http://hdl.handle.net/1721.1/29792.
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An international emissions trading system is a featured instrument in the Kyoto Protocol to the Framework Convention on Climate Change, designed to reduce emissions of greenhouse gases among major industrial countries. The US was the leading proponent of emissions trading in the negotiations leading up to the Protocol, with the European Union initially reluctant to embrace the idea. However the US withdrawal from the Protocol has greatly changed the nature of the agreement. One result is that the EU has moved rapidly ahead, establishing in 2003 the Emission Trading Scheme (ETS) for the period of 2005-2007. This Scheme was intended as a test designed to help its member states transition to a system that would lead to compliance with their Kyoto Protocol commitments, which cover the period 2008-2012. The ETS covers CO2 emissions from big industrial entities in the electricity, heat, and energy-intensive sectors. It is a system that itself is evolving as allocations, rules, and registries were still being finalized in some member states late into 2005, even though the system started in January of that year. We analyze the ETS using the MIT Emissions Prediction and Policy Analysis (EPPA) model. We find that a competitive carbon market clears at a carbon price of about 0.6 to 0.9 €/tCO2 (approximately 2 to 3 €/tC) for the 2005-2007 period in a base run of our model in line with many observers’ expectations who saw the cuts required under the system as very mild, but in sharp contrast to the actual history of trading prices, which have settled in the range of 20 to 25 €/tCO2 (approximately 70 to 90 €/tC) by the middle of 2005. In various comparison exercises the EPPA model’s estimates of carbon prices have been similar to that of other models, and so the contrast between projection and reality in the ETS raises questions regarding the potential real cost of emissions reductions vis-à-vis expectations previously formed based on results from the modeling community. While it is beyond the scope of this paper to reach firm conclusions on reasons for this difference, what happens over the next few years will have important implications for greenhouse gas emissions trading and so further analysis of the emerging European trading system will be crucial.Abstract in HTML and technical report in PDF available on the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change website (http://mit.edu/globalchange/www/).
This research was supported by the U.S Department of Energy, U.S. Environmental Protection Agency, U.S. National Science Foundation, U.S. National Aeronautics and Space Administration, U.S. National Oceanographic and Atmospheric Administration; and the Industry and Foundation Sponsors of the MIT Joint Program on the Science and Policy of Global Change: Alstom Power (France), American Electric Power (USA), Chevron Corporation (USA), CONCAWE (Belgium), DaimlerChrysler AG (Germany), Duke Energy (USA), J-Power (Japan), Electric Power Research Institute (USA), Electricité de France, ExxonMobil Corporation (USA), Ford Motor Company (USA), General Motors (USA), Murphy Oil Corporation (USA), Oglethorpe Power Corporation (USA), RWE Power (Germany), Schlumberger (USA), Shell Petroleum (Netherlands/UK), Southern Company (USA), Statoil ASA (Norway), Tennessee Valley Authority (USA), Tokyo Electric Power Company (Japan), Total (France), G. Unger Vetlesen Foundation (USA).
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Anger-Kraavi, Annela. "Emissions trading for regulating climate change impacts of aviation : a case study of the European Union Emissions Trading Scheme." Thesis, University of Cambridge, 2012. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.610211.
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Mengistu, Azemeraw Tadesse. "Modeling and Analysis of Long-Term Shifts in Bioenergy Use-With Special Reference to Ethiopia : Improving Sustainable Development." Thesis, KTH, Energi och klimatstudier, ECS, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-129541.
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Ethiopia is one of the sub-Saharan Africa countries whose energy depends on traditional use of biomass such as wood, charcoal, agricultural residues and animal dung. The traditional use of biomass mainly wood and charcoal leads the country to massive deforestation and forest degradation. Negative environmental impacts from poorly managed municipal solid waste are also serious problems in the country. Moreover, there is a wide range of fossil fuels demand in the country fully covered by importing which results to a significant expenditure from the country’s budget. This study investigates the long-term shifts in bioenergy use of the country and evaluates the expected social, environmental and economical implications. For this purpose, three scenarios are formulated within a timeframe that goes from 2013 to 2030. The baseline scenario assumes the existing energy practices of the country would undergo no significant change in the future while the moderate shift and high shift scenarios consider the long-term shifts in bioenergy use with and without considering constraints respectively. In this context, long-term shifts means: transition from traditional use of biomass to efficient and modern in the household sector, biofuels deployment in the transport sector, introduction of agricultural residues as a fuel for cement production, and electricity generation from bagasse and municipal solid waste. To model and analyze the scenarios, the long-range energy alternatives planning system (LEAP) software tool is used. Taking the results of high shift scenario by 2030, the use of improved wood stoves and fuel switch stoves could save 65 million tons of wood. The foreign currency saving from using biofuels and agricultural residues as fossil fuels substitute would reach to 674 million USD. The greenhouse gas emissions reduction is equivalent to 46 million tons of CO2e which is about 18.4% of the CO2e abatement target of the country for 2030. The corresponding revenue from carbon trading schemes would reach to 231 million USD. Electricity generation from bagasse and municipal solid waste would be 3,672 GWh that is around 3.7% of the total electricity generation target for 2030.
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Ning, Bolun. "Comparative Study of Emissions Trading Status-Quo in China, Australia and Other Countries." Thesis, Griffith University, 2011. http://hdl.handle.net/10072/365431.
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Market-based approaches, particularly the emissions trading schemes, are broadly utilised by the developed world in order to reduce the greenhouse gases emissions, which are the main course of global climate change. All the existing schemes and schemes to be introduced play an important role in one country’s national climate change policies. China, as the largest contributor to the greenhouse gases emissions in the world, has also shown its intention to introduce an emissions trading scheme. However, there is no national regulatory framework or policy for carbon trading market in China. Thus, successful experience from the existing schemes and the good intentions in proposed ones are worthwhile for China to learn.
This project seeks to review and undertake comparative analyses of emissions trading schemes and sustainable energy policies between China and other countries, particularly in the context of international treaties and initiatives on climate change adaptation and mitigation strategies. Both published literature and some survey information are collected and critically analysed, and recommendations on both effective emissions trading schemes and sustainable energy policies are developed for China to implement the national initiatives and strategies in relation to the climate change adaptation and mitigation. Through comparative study, how emissions trading scheme, one of the market-based approaches, can mitigate the greenhouse gas emissions will be illustrated. Therefore, the establishment of a national carbon market will be proved as an efficient approach for China to curb greenhouse gas emissions and reduce energy intensity.Thesis (Masters)
Master of Philosophy (MPhil)
School of Biomolecular and Physical Sciences
Science, Environment, Engineering and Technology
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Forsberg, Joel. "The effects of the European Union Emission Trading Scheme on the energy enterprises with small carbon dioxide emissions in Sweden." Thesis, Stockholms universitet, Stockholm Resilience Centre, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-44234.
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To reduce the rate of global warming the EU has implemented the European Union EmissionTrading Scheme (EU ETS) as the world’s largest Cap and Trade system in an ambitiousattempt to reduce greenhouse gases with high cost-effectiveness. However, Cap and Tradetheory stipulates that transaction costs should be low for a Cap and Trade system to workeffectively. There is a possibility that small actors producing district heating and electricitypay too large a part of their costs in transaction cost, thereby making the EU ETS fail in itseffort to reduce emissions in the most cost effective way. To research this, interviews withrepresentatives from ten small producers of district heating and electricity in Sweden whereconducted. This study details their time and cost necessary to administrate the EU ETS. Theresults showed that transaction costs where high at around 50%. The cause for the hightransaction costs are the administrative requirements necessary to fulfill the legal obligationsin the EU ETS, a system that requires a little less than a week to administrate. Despite thehigh transaction costs the EU ETS does not lower the energy producers CO2 emissions, sincebio-fuel is already the preferred fuel. It is recommended is that the Swedish government usesthe possibility stipulated in the EU legislation to opt-out small emitters from the EU ETS.
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Efthymiou, Marina. "Challenges in aviation governance : implementation of Single European Sky and EU Emissions Trading Scheme." Thesis, University of West London, 2016. https://repository.uwl.ac.uk/id/eprint/3239/.
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Traffic growth, capacity constraints, climate change and the necessity to develop a more cost efficient system led to an ambitious initiative to reform the architecture of airspace management. This initiative, launched by the European Commission (EC), is called Single European Sky (SES). The four Key Performance Areas (KPAs) of SES are environment; cost efficiency; capacity; and safety. In the environment KPA Performance Indicators for Air Navigation Services Providers (ANSPs) are established to ensure that improvement in sustainability is achieved. In addition, aviation is included in the European Union's Emission Trading Scheme (EU ETS): the EC sets limits on CO2 emissions and provides economic incentives to airlines to reduce emissions by establishing a market-based trading system. EU-ETS can be used to simultaneously promote economic efficiency and achieve environmental goals on a sustainable basis. The PhD research examines the existence of cancel-out effects between supply-led, i.e. SES, and demand-led management, i.e. EU ETS, policies by following a holistic approach. Environmental economics theory and industrial economics are applied to identify factors that have a significant influence on the two policies. Interestingly, and in spite of common objectives, the two schemes are governed by different bodies, which may fail to streamline their communication process. Hence, the PhD thesis also addresses the issue of governance and its possible failure regarding the full implementation and efficiency of the schemes. From a methodological perspective, Delphi is conducted in two rounds to encapsulate policy complexity at an in-depth level. The target population comprises stakeholders involved in SES and EU ETS. To select candidates purposive and snowball sampling was used. Thus, the sample consists of 39 senior managers/experts from Civil Aviation Authorities; ANSPs; aviation-related organisations and institutions; and airlines. Based on the results of the Delphi and building on its theoretical background, the PhD thesis then develops a conceptual model to address governance failure, thus effectively linking supply- to demand-oriented aviation policies in a holistic manner.
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Yu, Pei-Shan. "The financial and environmental performance of firms exposed to the EU Emissions Trading Scheme." Thesis, University of Reading, 2015. http://centaur.reading.ac.uk/49316/.
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This thesis is an empirical-based study of the European Union’s Emissions Trading Scheme (EU ETS) and its implications in terms of corporate environmental and financial performance. The novelty of this study includes the extended scope of the data coverage, as most previous studies have examined only the power sector. The use of verified emissions data of ETS-regulated firms as the environmental compliance measure and as the potential differentiating criteria that concern the valuation of EU ETS-exposed firms in the stock market is also an original aspect of this study. The study begins in Chapter 2 by introducing the background information on the emission trading system (ETS), which focuses on (i) the adoption of ETS as an environmental management instrument and (ii) the adoption of ETS by the European Union as one of its central climate policies. Chapter 3 surveys four databases that provide carbon emissions data in order to determine the most suitable source of the data to be used in the later empirical chapters. The first empirical chapter, which is also Chapter 4 of this thesis, investigates the determinants of the emissions compliance performance of the EU ETS-exposed firms through constructing the best possible performance ratio from verified emissions data and self-configuring models for a panel regression analysis. Chapter 5 examines the impacts on the EU ETS-exposed firms in terms of their equity valuation with customised portfolios and multi-factor market models. The research design takes into account the emissions allowance (EUA) price as an additional factor, as it has the most direct association with the EU ETS to control for the exposure. The final empirical Chapter 6 takes the investigation one step further, by specifically testing the degree of ETS exposure facing different sectors with sector-based portfolios and an extended multi-factor market model. The findings from the emissions performance ratio analysis show that the business model of firms significantly influences emissions compliance, as the capital intensity has a positive association with the increasing emissions-to-emissions cap ratio. Furthermore, different sectors show different degrees of sensitivity towards the determining factors. The production factor influences the performance ratio of the Utilities sector, but not the Energy or Materials sectors. The results show that the capital intensity has a more profound influence on the utilities sector than on the materials sector. With regard to the financial performance impact, ETS-exposed firms as aggregate portfolios experienced a substantial underperformance during the 2001–2004 period, but not in the operating period of 2005–2011. The results of the sector-based portfolios show again the differentiating effect of the EU ETS on sectors, as one sector is priced indifferently against its benchmark, three sectors see a constant underperformance, and three sectors have altered outcomes.
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Buhr, Katarina. "Bringing aviation into the EU emissions trading scheme : institutional entrepreneurship at windows of opportunity /." Uppsala : Företagsekonomiska institutionen, Uppsala universitet, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-9505.
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Bertrand, Vincent. "The european union emission trading scheme and energy markets : economic and financial analysis." Phd thesis, Université de Franche-Comté, 2012. http://tel.archives-ouvertes.fr/tel-00930886.
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This thesis investigates relationships between the European Union Emission Trading Scheme (EU ETS) and energy markets. A special focus is given to fuel switching, the main shortterm abatement measure within the EU ETS. This consists in substituting Combined Cycle Gas Turbines (CCGTs) for hard-coal plants in off-peak power generation. Thereby coal plants run for shorter periods, which allows power producers to reduce their CO2 emissions. In Chapter 1, we outline different approaches explaining relationships between carbon and energy markets. We also review the literature relating to these issues. Next, we further describe the fuel switching process and, in particular, we analyze the influence of energy and environmental efficiency of thermal power plants (coal and gas) on fuel switching. In Chapter 2, we provide a theoretical analysis that shows how differences in the efficiency of CCGTs can rule interactions between gas and carbon prices. The main result shows that the allowance price becomes more sensitive to the gas price when the level of CO2 emissions increases. In Chapter 3, we examine interactions between carbon, coal, gas and electricity prices in an empirical study. Among the main results, we find that there is a significant link between carbon and gas prices in the long-run equilibrium.In Chapter 4, we analyze the cross-market price discovery process between gas and CO2 markets. We identified in previous chapters that there is a robust significant link between gas and CO2 markets. They are linked commodities, and their prices are affected by the same information. In an empirical analysis, we find that the carbon market is the leader in cross-market price discovery process.
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Sung, Sally Ki-Youn. "Responding to Climate Change: A Carbon Tax or an Emissions Trading Scheme? A New Zealand Perspective." Thesis, University of Canterbury. Accountinig and Information Systems, 2011. http://hdl.handle.net/10092/6934.
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Consequences of global warming and climate change issues have become more apparent over the last several decades. Heat waves, floods, tornados and storms are not just natural disasters occurring elsewhere, but they are now serious environmental catastrophes threatening New Zealand (NZ) and nearby countries as a result of continously escalating greenhouse gas (GHG) emissions. Thus, the Kyoto Protocol was prepared for countries to work collaborately to provide a solution through encourging countries to commit themselves to reducing their individual share of the total GHG emissions. To date, NZ has gone through several phases of modification – introducing and revising two distinctive climate change policies (a Carbon Tax and an Emissions Trading Scheme [ETS]) as a tool to reduce GHG in NZ. These attempts to address climate change, coupled with the question raised by McDonald (Irish Times, 2009) doubting the actual effect of a tax on behaviour-change, provide an extensive basis for a case study in a NZ context involving an evaluation of the effectiveness of these regimes on incentivising behaviour-change to reduce and stablise the level of GHG emissions.
In an attempt to answer the research question and conduct a case study in a NZ context, a triangulation approach incorporating both quantitative and qualitative research methods was undertaken. Statistical data analysis was conducted as a quantitative method to analyse and compare numerical changes 'with‘ and 'without‘ the existence of climate change policies. To enhance the results obtained from the quantitative research, qualitative information was also collected by interviewing politicians directly related to the introduction, implementation and the review process of the climate change policies in a semi-structured manner.
The results of this study reinforced the need for regulations and policies to reduce and maintain the level of GHG emissions. Statistical data analysis proved that the existence of climate change policies results in lower level of GHG emissions. The interviewees also perceived that some sort of policy is definitely required to regulate the level of emissions, although whether the current, National-led Government‘s modfied-ETS is the 'right' approach is still uncertain. However, the majority of interviewees agreed that the type of tool does not matter, as long as it is correctly-designed to reflect the necessary policies to influence the decision making process of individuals and businesses, and ultimately change their behaviour as a result. However, in order to maintain NZ‘s relationship with other countries, it is preferable to retain its ETS regime until other countries decide to do otherwise.
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Lacombe, Romain H. "Economic impact of the European Union Emission Trading Scheme : evidence from the refining sector." Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/42936.
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Thesis (S.M. in Technology and Policy)--Massachusetts Institute of Technology, Engineering Systems Division, Technology and Policy Program, 2008.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (p. 175-182).
I study the economic impact of the European Union Emission Trading Scheme (EU ETS) on the refining industry in Europe. I contrast previous ex-ante studies with the lessons from a series of interviews I conducted with industrials, and the public data available on the first phase of the scheme, effective from January 1st, 2005 to December 31st, 2007. I conclude that because of organizational inertia, weak incentives linked to the low emission permit price that prevailed during its second part, and important industrial and regulatory constraints, the Phase I of EU ETS has had a limited economic impact on firms. However, this first trading period was instrumental in allowing the rening sector to build the capabilities needed to respond efficiently to the carbon price signal in the long run. I argue that the internal and external constraints that this first phase revealed will shape the future outcome of the scheme. Based on evidence from the rening sector under EU ETS, I take position in the current debate over policy design to suggest ways for regulators to improve the economic impact and environmental effectiveness of carbon markets.
by Romain H. Lacombe.
S.M.
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Eckerhall, Daniel. "The Possibility and Effects of Including the Transport Sector in the EU Emission Trading Scheme." Thesis, Linköping University, Department of Mechanical Engineering, 2005. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-5306.
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The European Union has initiated a scheme for trading with CO2 emission allowances as a measure to reduce greenhouse gas emission levels. Since January 2005 companies from certain energy demanding sectors, responsible for approximately 50 % of the total CO2 emissions in the EU, are participating in this scheme, the so called EU Emission Trading Scheme.
A trading scheme covering all sectors, i.e. all emissions in the EU would lead to the most cost efficient solution to reduce emissions by a certain amount. This means that the EU Emission Trading Scheme should be enlarged to cover also the transport sector, which is not participating today, but responsible for about 21 % of the total greenhouse gas emissions in the EU.
There are three ways to include the transport sector in the EU Emission Trading Scheme, i.e. to administrate the handling and trading of emission allowances in the transport sector. The first is a so called downstream approach, meaning that the actual emitter of the GHG, in this case a private person driving a car or a haulage contractor using trucks to transport goods, would be responsible for acquiring and trading emission allowances in accordance to the amount of greenhouse gases that he emits. The second way is a so called upstream approach, meaning that the owner of fuel depots would be responsible for acquiring and trading emission allowances corresponding to the amount of fossil fuel that he is selling, which is proportional to the amount of greenhouse gases that is emitted when using the fuel. The third solution is to lay the responsibility for acquiring and trading emission allowances on the companies that are ordering the transportation service, indirectly causing greenhouse gas emissions when their goods are being transported.
All three solutions have their advantages and disadvantages, but the benefits of using the upstream approach are the greatest. By allocating the responsibility for keeping and trading emission allowances at the fuel depots, an extensive part of greenhouse gas emissions from fossil fuel use, not only in the transport sector, could be covered by the EU Emission Trading Scheme to the lowest administrational cost possible.
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Semkiv, O. "The national emission trading scheme in Ukraine as a mitigation tool to combat climate change." Thesis, Вид-во СумДУ, 2010. http://essuir.sumdu.edu.ua/handle/123456789/13189.
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The climate change has been identified as one of the major threats the human kind faced over the last decades. For a while, a number of developed countries have combined the efforts of state and private sector, developing the additional mechanisms and instruments for reducing greenhouse gas (GHG) emissions. Although Ukraine is actively using the mechanisms of the Kyoto Protocol to the UN Framework Convention on Climate Change, the national economy still faces a lack of initiatives to attract private sector into the programs aiming at GHG emission reductions.
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Boling, Bryan Kenneth. "A framework and quantitative methodology for the identification of cost-effective environmental policy for civil aviation." Diss., Georgia Institute of Technology, 2014. http://hdl.handle.net/1853/53459.
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Compared to the relative wealth of information surrounding design in the context of system-of-systems there has been little research surrounding policy making in system-of-systems. While the adoption of a formal approach and lexicon for system-of-systems problems has been proposed by researchers, the specific inclusion of regulatory policies in system-of-systems is still largely absent or underdeveloped. Typically, there is no distinction between internal policies of an organization and exogenous policies coming through regulatory channels. Further, researchers have yet to formally employ a standardized framework to regulatory policy problems in the context of a system-of-systems. As international regulatory bodies are calling on world States to identify and select “baskets of measures” to address CO2 emissions from civil aviation, there is a growing recognition that doing so will require a framework for policy identification and selection. Despite this recognition, such a framework has yet to be established.
This research develops a formal lexicon for public policy as a part of system-of-systems, and employs a formalized process to explore multiple established, planned, and potential policies in the context of the global civil aviation system. Existing architectures and lexicons will be expanded to include regulatory policies that have often been treated as exogenous forcing functions in system-of-systems problems. Ultimately, a process for informed quantitative decision making to support concurrent CO2 regulatory policy analysis and design in the civil aviation system-of-systems is established. The developed methodology will allow policy makers to systematically identify effective policy space, while maintaining the objectivity of the analyst.
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Teng, Andrea. "Toward a reconciled and integrated EU Emissions Trading Scheme? : a case study of United Kingdom, Germany and Poland." Thesis, University of Bath, 2017. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.760901.
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Since the EU-ETS was placed at the centre of EU climate governance in 2003,its influence has not been restricted to environmental policy but has spread to theeconomic and political domains. But its implementation remains blocked even after the EU revised it by the Climate and Energy Package (CEP). The larger problem is, the ‘East-West’ split toward the revised EU-ETS triggered by the ambitious but ‘missions complicated’ CEP and diffused to energy governance, which put EU's climate governance into the deadlock (Wettestad, 2014). Skjærseth and Wettestad (2009, 2010) argued that the revised EU-ETS could be the result of the changing MS’ preferences, but they did not unpack these preferences formulated during the EU-ETS implementation. This thesis fills the gap by reinvestigating the EU-ETS implementation to identify what the domestic contextual factors are and how they affect and reshape MS’ preferences to the EU-ETS. By applying the five stage policy-making cycle andthe multilevel governance (MLG) in this study, it is concluded that the difficulty offixing the EU-ETS is not merely limited to the revised climate governance structure, but also the need to reconcile MS’ energy-economic structures and coordinate with their climate and energy policy. To solve the MS’ problem of ‘asymmetrical energy-economic interests’, it is vital for the EU to improve the cross-level reconciliation between the EU-ETS and national energy policies and to increase the coordination between policy instruments when reforming the EU’s climate governance structure. The EU-ETS development encourages both national and EU’s climate governance structures to fall in line with MLG concepts (flexible design and more jurisdictional levels involved in the policy network). Therefore, it has become the turning point of European integration, by which the traditional dichotomy between ‘top-down’ and ‘bottom-up’ integration starts transitioning to the ‘two-way reconciliation.’
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Bond, Meghan Shae. "Grassroots Climate Action in Australia: Visions, Practices and Innovation." Thesis, Griffith University, 2013. http://hdl.handle.net/10072/366826.
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Australian grassroots action on climate change is a recent phenomenon. Climate change as an issue of concern entered the Australian political landscape and national psyche later than in countries like the United Kingdom and some Western European nations, but since then there has been a surge of climate action. In 2007, the first ‘climate election’ was held, followed by many other headline-grabbing events including a proposed (but axed) nationwide emissions trading scheme and an implemented carbon price scheme. Coinciding and co-evolving has been a grassroots layer of the climate movement. This layer consists of concerned citizens seeking to address climate change through personal action and pushing for broader social and political change. The research produced by this thesis delves into this layer of climate action in the Australian state of Victoria, describing grassroots actors and practices as well as the potential contribution that actors could make to the mitigation of the climate problem.
This thesis first seeks to answer the questions of who comprises the grassroots layer of the climate movement in Victoria and what practices are being advocated and/or undertaken. It then discusses whether any of these practices contribute to addressing the climate problem more broadly. The intent is to conceptualise and systematically explore the grassroots terrain of Victorian climate action whilst seeking to uncover innovative practices in response to climate change. The significance of exploring this terrain and practices is traced to the limited research to date on the grassroots layer of climate action, and, in turn, the limited exploration of the innovative practices that can occur in that space.Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Griffith Business School
Griffith Business School
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Aufenanger, Vanessa [Verfasser]. "Challenges of a common climate policy. An analysis of the development of the EU Emissions Trading Scheme / Vanessa Aufenanger." Kassel : Kassel University Press, 2012. http://d-nb.info/1027392547/34.
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Löschel, Ralf [Verfasser], and S. [Akademischer Betreuer] Berninghaus. "The European emissions trading scheme under imperfect competition : an economic analysis of the institutional framework / Ralf Löschel. Betreuer: S. Berninghaus." Karlsruhe : KIT-Bibliothek, 2009. http://d-nb.info/1014100046/34.
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Govea, Buendia Jose Agustin. "Can Mexico meet the renewable energy targets under the emission trading scheme? : An analysis of the Mexican electricity framework." Thesis, KTH, Energiteknik, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-244461.
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The Mexican power sector has started an ambitious transition since 2013 to open the sector to private investors. Constitutional amendments envisage a cleaner electricity sector, setting goals for renewable energy share in the electricity mix respectively 35% by 2024, 40% by 2035, and 50% by 2050. Simultaneously, Mexico has set targets to reduce GHG emissions including among others, the electricity sector. To achieve these goals, the Mexican government has recently announced the implementation of a mandatory Emission Trading Scheme (ETS). The study investigated the impact of adopting the ETS from 2017 to 2050 in the Mexican electricity sector. The study used Open Source Energy Modeling System (OSeMOSYS) in order to build a model of the current Mexican electricity sector. Ten different scenarios were created to explore the evolution of the electricity industry in the country under an ETS (e.g. emissions limited and penalized). The conditional and unconditional Intended Nationally Determined Contributions (INDC) adopted by Mexico were considered to replicate the cap on emissions. The unconditional INDC implied 22% less emissions, whereas the conditional INDC suggested 50% less emissions. Furthermore, five different penalties on emissions were applied (2.5 USD/tCO2eq, 7.5 USD/tCO2eq, 15 USD/tCO2eq, 30 USD/tCO2eq, and 50 USD/tCO2eq). The results suggest that when the ETS is not adopted the emissions continuously increase until 2050, and the renewable penetration targets are not achieved. Additionally, under a 22% less emissions cap the renewable penetration targets are not achieved in any scenario, however the GHG reduction target is attained in all the scenarios, both by 2031 and until 2050. Under a 50% less emissions cap, the GHG reduction targets are achieved; nonetheless, the renewable penetration targets are only achieved in 2024 and 2035, but not in 2050. Finally, according to the simulations, the Mexican electricity sector showed a high level of dependency on conventional technologies fueled by natural gas (i.e. combined cycle and gas turbine power plants) by 2050. Solar PV had the largest power generation share, followed by onshore wind power. Only under a 50% less emissions cap, offshore wind power penetrated the Mexican electricity sector.Den mexikanska energisektorn har nyligen påbörjat en ambitiös övergång med start 2013 via lagändringar som möjliggjort privata investerare i sektorn. Vidare, leder förändringarna till en renare energisektor genom att sätta mål för en förnybar energifördelning, där andelen är enligt följande, 35% år 2024, 40% år 2035, 50% år 2050. Samtidigt har Mexiko förvärvat olika mål för att minska GHG‐utsläppen inom bland annat elsektorn. För att uppnå dessa mål har den mexikanska regeringen nyligen presenterat ett införande av en obligatorisk Emission Trading Scheme (ETS). Studien undersökte inverkan av att tillämpa ETS på förnybar energifördelning från 2017 till 2050 i den mexikanska elsektorn. Studien använde sig utav Open Source Energy Modeling System (OSeMOSYS) för att ta fram en modell av den nuvarande mexikanska elsektorn. Tio olika scenarion togs fram för att undersöka utvecklingen utav elindustrin i landet under en ETS (t.ex. när utsläppen är begränsade och straffbara). Den beroende och oberoende Intended Nationally Determined Contributions (INDC) som antogs av Mexiko ansågs replikera begränsningen av utsläpp. Den oberoende INDC tyder på 22% mindre utsläpp och den beroende INDC på 50% mindre utsläpp. Vidare tillämpades fem olika bestraffningar på utsläpp (2.5 USD/tCO2eq, 7.5 USD/tCO2eq, 15 USD/tCO2eq, 30 USD/tCO2eq, and 50 USD/tCO2eq). Resultaten antyder på att när ETS inte tillämpas ökar utsläppen kontinuerligt fram till och med 2050, och de uppsatta målen nås inte. Dessutom, när minskningen utav utsläpp var under 22% uppnåddes inte målen i något utav scenariona. Dock uppnås målet om minskningen av GHG i alla scenarion både till år 2031 och år 2050. Under en minskning på 50% mindre utsläpp uppfylls minskningen av GHG och den förnybara generaliseringen uppnås endast för år 2024 och år 2035, dock inte för år 2050. Slutligen, enligt simuleringarna, visade den mexikanska elsektorn ett stort beroende av konventionella teknologier baserade på naturgas (t.ex. kombineradcykel and gasturbine power plants) för år 2050. Solar PV genererade den största delen av energin, följt utav onshore vindkraft. Endast under riktlinjen av 50% mindre utsläpp penetrerade offshore vindkraft den mexikanska elsektorn.
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Trautmann, Thomas. "Environmental investment decisions under regulatory uncertainty : an analysis of corporate responses to regulatory uncertainty in the European Emission Trading scheme /." Zürich : ETH, 2007. http://e-collection.ethbib.ethz.ch/show?type=diss&nr=17291.
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Zelená, Vladimíra. "Komparace emisního obchodovacího systému EU a programu kyselého deště v USA." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-9233.
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The thesis focuses on comparison of emission trading of the European Union (European Union Emission Trading Scheme) which trades with carbon dioxide allowances and emission trading of the United States of America (Acid Rain Program) which trade with sulphur dioxide allowances. Despite of using same mechanisms and principles, these systems brought diverse results -- mostly because of different implementation of key parameters. The thesis which concerns with both of these systems is trying to find the major reasons of unsuccessful implementation of the European Union trading and the most important reasons leading to successful performance of the U.S. program.
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Jochem, Patrick. "A CO2 emission trading scheme for German road transport assessing the impacts using a meso economic model with multi-agent attributes." Baden-Baden Nomos, 2009. http://d-nb.info/996210792/04.
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Nwaogu, Chidinma C. P. "What are the challenges faced by the Australian emissions trading scheme and are there any lessons to be learned from the EU ETS?" Thesis, University of Dundee, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.505603.
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Jochem, Patrick. "A CO 2 emission trading scheme for German road transport : assessing the impacts using a meso economic model with multi-agent attributes /." Baden-Baden : Nomos, 2009. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=018655861&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Dahlquist, Jennifer, and Ida Haataja. "Utsläppsrätter : Påverkas redovisningen av anglosaxisk och kontinental redovisningstradition?" Thesis, Högskolan i Borås, Akademin för textil, teknik och ekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:hb:diva-10397.
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Växthuseffekten är idag ett välkänt fenomen. För inte så länge sedan skrev 195 länder på klimatavtalet i Paris, ett avtal som slår fast att länderna tillsammans ska arbeta mot målet att hålla den globala uppvärmningen under 2 grader Celsius. Redan före ingåendet av detta avtal fanns åtgärder som syftade till att minska den globala uppvärmningen. Införandet av utsläppsmarknaden är en sådan åtgärd. Denna marknad bygger på att man med hjälp av ekonomiska incitament påverkar företag att minska sina utsläpp. Om företag inte kan minska sina utsläpp står de inför stora kostnader. Hela idén med utsläppsmarknader hotas dock av det faktum att det inte finns någon vägledning kring hur företag ska redovisa utsläppsrätter i de finansiella rapporterna. Som ett resultat av avsaknaden av vägledning på området är det upp till företag själva att avgöra hur och om de ska redovisa utsläppsrätter. En ytterligare konsekvens av detta är det väldigt många företag som inte redovisar utsläppsrätter överhuvudtaget. Även bland de företag som valt att redovisa utsläppsrätter finns det en stor variation.I denna studie undersöks variationen ur ett annat perspektiv. Syftet med denna studie är att söka förklara varför företag tillämpar olika redovisningsmetoder gällande redovisning av utsläppsrätter utifrån ett anglosaxiskt och kontinentalt perspektiv. Den genomförda metoden i studien är en kvantitativ innehållsanalys med kvalitativa inslag som behandlade 32 anglosaxiska respektive 32 kontinentala börsnoterade företags årsredovisningar. Samtliga företag är deltagare på en utsläppsmarknad och följer IFRS.Studien visar att det finns skillnader mellan anglosaxiska och kontinentala företags redovisning av utsläppsrätter. Studien visar även att dessa kan förklaras utifrån de egenskaper som är typiska för respektive redovisningstradition. Anglosaxiska företag redovisar överlag mycket mindre om utsläppsrätter än vad kontinentala företag gör. Detta faktum kan troligen förklaras genom den starka position som revisionsprofessionen har i den anglosaxiska redovisningstraditionen. Bland de anglosaxiska företag som väl valt att upplysa visar studien att deras redovisningsval styrs av syftet med deras finansiella rapporter. Vidare visar studien att kontinentala företag använder varierande värderingsmetoder vilket kan kopplas till skattelagstiftningens påverkan på redovisningspraxis i dessa länder. En annan skillnad är att kontinentala företag i högre grad erkänner hela förpliktelsen i balansräkningen vilket har sin förklaring i att de anses redovisa mer försiktigt.Studien belyser hur företags redovisningsval påverkas av redovisningstraditionerna i ett land och bekräftar att de fortfarande existerar. Dessa slutsatser kan bidra med ett nytt perspektiv i det pågående arbetet att ta fram vägledning gällande redovisning av utsläppsrätter. Vi anser att vägledning är nödvändig för att utsläppsmarknaden ska leva upp till sitt syfte, vilket den inte gör idag.Today, the effect of greenhouse gases is a well-known phenomenon. Not so long ago 195 countries signed the Paris agreement, a document which states that the countries will work together to achieve the goal of keeping the global warming below 2 degrees Celsius. Even before the entrance of this agreement measures were taken to reduce global warming. The introduction of an emission trading scheme is one such measure. The scheme tries to create economic incentives for companies to reduce their emissions of greenhouse gases. If no efforts are made in order to reduce their emissions, the companies will face extensive costs. However, the whole idea of an emission trading scheme is threatened by the fact that there is no guidance on how companies should report emission allowances in their financial reports. As a result of the lack of guidance companies will have to decide on their own if and how they should account for emission allowances. A further consequence of this is that many companies do not account for emission allowances at all. It is also a big variation among the companies that have chosen to account for emission allowances.In this study we investigate the variety through a different perspective. The purpose of this study is to explain why companies use different accounting methods when they account for emission allowances from an Anglo-Saxon and Continental view. The applied method of this study is a quantitative content analysis with qualitative elements on 32 Anglo-Saxon and 32 Continental companies´ annual reports. All of the companies are participants on an emission trading scheme and comply with IFRS.The study shows that there is a difference between Anglo-Saxon and Continental accounting for emission allowances. The study also shows that this difference can be explained by the characteristics that are typical for each accounting tradition. In general, Anglo-Saxon companies disclose less about their emission allowances than the Continental companies do. This fact can probably be explained by the audit profession’s strong position in the Anglo-Saxon accounting tradition. The study also shows that the Anglo-Saxon companies that have chosen to disclose are guided by the objective of their financial statements. Furthermore, the study shows that Continental companies use several different valuation methods, which can be explained by the strong connection between tax and accounting practice in the Continental countries. Another difference is that Continental companies more frequently gross the liability in the balance sheet, which is explained by the fact that Continental companies are considered more prudent. This study highlights how corporate accounting choices are influenced by the countries’ accounting traditions and confirm that these traditions still exist. These conclusions can provide a new perspective in the current effort to develop guidance regarding the accounting of emission allowances. We believe that guidance is necessary if the emission trading scheme shall fulfil its purpose, which it currently does not.
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Fernando, Sánchez Miñaur Fernando Sánchez Miñaur. "Carbon pricing and the impact on financial markets." Thesis, KTH, Hållbar utveckling, miljövetenskap och teknik, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-258408.
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Responsible investing has become a trend throughout financial markets. As World’s economies pledge to decrease the amount of greenhouse gas (GHG) emissions, environmental policies like carbon pricing (CP) are expected to be strengthened; the above is attributed to the effort of internalizing the environmental costs of the current economic system. In the same context where asset owners have been demanding to the private sector for greater coverage of Environmental Social Governance (ESG) issues, understanding exposure and risk to carbon taxation and emission trading schemes (ETS) could be a major driver for responsible investing. Nonetheless, it has been found that this environmental policy to price emissions, falls behind from a harmonized cost per emission across sectors and geographies. Defined and assessed through a quantitative scenario analysis on scope 1 emissions, all information on carbon pricing set the basis for the model. From an investing perspective, the results showed higher exposure for the electricity sector by 2030 and 2050; nonetheless, the riskiest sector to invest at, was shown as industry. The above is based on the current and expected carbon dependency, and the expected increase in coverage from carbon pricing mechanisms respectively. In addition, aviation, which is a sub-sector from offroad transportation, showed to be the main source for this sector´s exposure and risk. It is concluded that the research carried out is a first step from a complete analysis on CP, as scope 2 emissions need to be assessed.Att investera ansvarsfullt är en trend som ökar stadigt genom finansmarknader i världen idag. Då flera ekonomier i världen utlovar att minska mängden utsläpp av växthusgaser i linje med vissa klimatscenarion, så förstärks miljöpolicys som koldioxidutsläppspriser i ett försök att internalisera externaliteter i dagens ekonomiska system. I kontexten av när ägare av tillgångar börjar kräva större täckning i miljö, socialt ansvar och ägarstyrning, kan exponering och risk i koldioxidutsläppsbeskattning och handel av utsläppsoptioner vara en drivande faktor i ansvarsfullt investerande. En utmaning i att prissätta utsläpp genom miljöpolicys ligger i hur separerade båda mekanismerna är från en harmoniserad kostnad per utsläpp genom olika sektorer och geografier. Definierad och utvärderad genom en kvantitativ scenarioanalys av Scope 1-utsläpp, verkade all information om koldioxidutläppspriser som grund till modellen. Från ett investeringsperspektiv visade resultaten en högre exponering för elkraftssektorn till 2030 och 2050. Emellertid påvisades även att industrisektorn har störst risk för investeringar. Detta är baserat på elkraftens nuvarande och förväntade koldioxidutsläppsberoende och den förväntade ökningen i täckning från koldioxidutsläppsprismekanismer i industrisektorn. Vidare påvisades flygindustrin, som är en sidosektor av offroad-transport, vara den huvudsakliga källan för denna sektors exponering och risk. Avslutningsvis fastställs det att denna undersökning endast är ett första steg i en komplett analys av koldioxidpriser, då Scope 2 utsläpp även bör undersökas.
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Trotignon, Raphaël. "In search of the carbon price : The european CO2 emission trading scheme : from ex ante and ex post analysis to the protection in 2020." Thesis, Paris 9, 2012. http://www.theses.fr/2012PA090052.
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Cette thèse est une évaluation des deux premières phases du Système Communautaire d’Echange de Quotas d’Emission (SCEQE). Il s'articule autour de la construction progressive d'un modèle de simulation, ZEPHYR-Flex, qui vise à reproduire les évolutions du prix et des émissions observés entre 2005 et 2012, et à les projeter jusqu'en 2020 sous différentes séries d'hypothèses. L'analyse ex post des huit premières années du système révèle que, pour comprendre son évolution, il est nécessaire d'étudier en détail le rôle joué par trois mécanismes de flexibilité: les échanges de quotas, la flexibilité spatiale (crédits carbone), et la flexibilité temporelle (banking/borrowing). Dans un premier temps, nous construisons un cadre technico-économique servant de base au mécanisme simulant les échanges de quotas dans le modèle. Le rôle des crédits carbone est ensuite examiné et un scénario pour leur utilisation jusqu'en 2020 est calculé sur cette base. Ensuite, la flexibilité temporelle est introduite dans le modèle qui, une fois les trois mécanismes de flexibilité réunis, peut reproduire la trajectoire passée du prix et des émissions. Le modèle et les leçons tirées des deux premières phases sont ensuite utilisés dans différents scénarios prospectifs à l'horizon 2020. Parmi les scénarios testés, seul un renforcement du plafond d’émission en ligne avec l'objectif européen de 2050 est en mesure de restaurer la confiance et les anticipations associées au système, deux facteurs qui conditionnent l'efficacité du SCEQE à long terme. La nécessité d’articuler correctement le SCEQE avec les autres politiques climat-énergie est également soulignéeThis thesis is an evaluation of the first two phases of the EU ETS. It is articulated around the progressive construction of a simulation model, ZEPHYR-Flex, which aims at being able to replicate the observed price and emissions trajectories between 2005 and 2012, and to project them until 2020 under different sets of assumptions. The ex post analysis of the first eight years of the system reveals that to understand its development, it is necessary to study in details the role played by three flexibility mechanisms: trading, spatial flexibility (offsets), and time flexibility (banking/borrowing). In a first stage, we build a technical-economic framework for the core trading mechanism of the model. The role of offsets is then scrutinized and a scenario for their use up to 2020 is calculated on this basis. Next, the time flexibility and the related banking and borrowing behavior are introduced into the model which can then replicate the past price and emission trajectory. The model and the lessons from the first two phases are then used in different prospective scenarios to 2020. Among the scenarios tested, only a strengthening of the cap in line with the 2050 European reduction target is able to restore confidence and anticipations, two factors needed for the efficiency of the EU ETS in the long term. The issue of correctly articulating the EU ETS with other climate-energy policies is also underlined
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Sonntag, Sebastian. "Bilanzierung von Emissionsrechten: Literaturrecherche und empirische Untersuchung europäischer Unternehmen." Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2014. http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-135892.
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Im Jahr 2005 wurde als Reaktion auf die Unterzeichnung des Kyoto-Protokolls und der damit verbundenen Verpflichtung zur Reduktion von Treibhausgasemissionen der europäische Emissionshandel eingeführt. Versuche der Standardsetter für IFRS und US GAAP zu einer einheitlichen Bilanzierungsregel für Emissionsrechte scheiterten. Seitdem stehen den beteiligten Unternehmen speziell bei Ansatz und Bewertung von Emissionsrechten sowie der Verbindlichkeit für verursachte Emissionen Wahlrechte zur Verfügung. Da unterschiedliche Bilanzierungsansätze zu verschiedenen Resultaten beispielsweise in der Gewinn- und Verlustrechnung führen können, schränkt die Regelungslücke die Vergleichbarkeit zwischen Unternehmen mit unterschiedlichen Bilanzierungsansätzen ein. Dabei wird zudem deutlich, wie wichtig die Offenlegung des gewählten Bilanzierungsansatzes ist. Diese Arbeit beschreibt mit Hilfe einer ausführlichen Literaturrecherche den Diskurs in der Forschung und fasst die theoretisch möglichen Ansätze zusammen. Dem schließt sich eine Analyse aller im STOXX Europe 600 gelisteten Unternehmen an. Untersucht wird, inwieweit die Unternehmen am Emissionshandel beteiligt sind, welchen Ansatz zur Bilanzierung von Emissionsrechten sie wählen und in welcher Vollständigkeit sie den gewählten Ansatz im Geschäftsbericht offenlegen. Insgesamt 70 Unternehmen im STOXX Europe 600 geben eine Beteiligung am europäischen Emissionshandel an, 68 davon erhalten Emissionsrechte kostenfrei von einer staatlichen Stelle zugeteilt. Davon wiederum können 31 Unternehmen sicher einem Bilanzierungsansatz zugeordnet werden; bei den übrigen Unternehmen werden nicht alle relevanten Bilanzierungsentscheidungen offengelegt. Die große Mehrheit dieser 31 Unternehmen wendet den Netto-Ansatz an, bei welchem die zugeteilten Emissionsrechte zu Anschaffungskosten (üblicherweise Null) angesetzt werden. Nur zwei Unternehmen bilanzieren Emissionsrechte nach der 2005 zurückgenommenen, aber weiterhin gültigen Interpretation IFRIC 3. Insgesamt gibt es bezüglich der Bilanzierung von Emissionsrechten in europäischen Unternehmen in Theorie und Praxis Unterschiede, welche die Vergleichbarkeit einschränken. Dies wird durch die häufig unvollständige Offenlegung der Bilanzierungsentscheidung verstärkt. Diese Kritikpunkte sollten aus Sicht der Standardsetter IASB und FASB ausreichend Anlass geben, eine einheitliche Regelung zur Bilanzierung von Emissionsrechten zu entwickeln.
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Sonntag, Sebastian. "Bilanzierung von Emissionsrechten: Literaturrecherche und empirische Untersuchung europäischer Unternehmen." Technische Universität Dresden, 2011. https://tud.qucosa.de/id/qucosa%3A27687.
Full textAbstract:
Im Jahr 2005 wurde als Reaktion auf die Unterzeichnung des Kyoto-Protokolls und der damit verbundenen Verpflichtung zur Reduktion von Treibhausgasemissionen der europäische Emissionshandel eingeführt. Versuche der Standardsetter für IFRS und US GAAP zu einer einheitlichen Bilanzierungsregel für Emissionsrechte scheiterten. Seitdem stehen den beteiligten Unternehmen speziell bei Ansatz und Bewertung von Emissionsrechten sowie der Verbindlichkeit für verursachte Emissionen Wahlrechte zur Verfügung. Da unterschiedliche Bilanzierungsansätze zu verschiedenen Resultaten beispielsweise in der Gewinn- und Verlustrechnung führen können, schränkt die Regelungslücke die Vergleichbarkeit zwischen Unternehmen mit unterschiedlichen Bilanzierungsansätzen ein. Dabei wird zudem deutlich, wie wichtig die Offenlegung des gewählten Bilanzierungsansatzes ist. Diese Arbeit beschreibt mit Hilfe einer ausführlichen Literaturrecherche den Diskurs in der Forschung und fasst die theoretisch möglichen Ansätze zusammen. Dem schließt sich eine Analyse aller im STOXX Europe 600 gelisteten Unternehmen an. Untersucht wird, inwieweit die Unternehmen am Emissionshandel beteiligt sind, welchen Ansatz zur Bilanzierung von Emissionsrechten sie wählen und in welcher Vollständigkeit sie den gewählten Ansatz im Geschäftsbericht offenlegen. Insgesamt 70 Unternehmen im STOXX Europe 600 geben eine Beteiligung am europäischen Emissionshandel an, 68 davon erhalten Emissionsrechte kostenfrei von einer staatlichen Stelle zugeteilt. Davon wiederum können 31 Unternehmen sicher einem Bilanzierungsansatz zugeordnet werden; bei den übrigen Unternehmen werden nicht alle relevanten Bilanzierungsentscheidungen offengelegt. Die große Mehrheit dieser 31 Unternehmen wendet den Netto-Ansatz an, bei welchem die zugeteilten Emissionsrechte zu Anschaffungskosten (üblicherweise Null) angesetzt werden. Nur zwei Unternehmen bilanzieren Emissionsrechte nach der 2005 zurückgenommenen, aber weiterhin gültigen Interpretation IFRIC 3. Insgesamt gibt es bezüglich der Bilanzierung von Emissionsrechten in europäischen Unternehmen in Theorie und Praxis Unterschiede, welche die Vergleichbarkeit einschränken. Dies wird durch die häufig unvollständige Offenlegung der Bilanzierungsentscheidung verstärkt. Diese Kritikpunkte sollten aus Sicht der Standardsetter IASB und FASB ausreichend Anlass geben, eine einheitliche Regelung zur Bilanzierung von Emissionsrechten zu entwickeln.
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Norberg, Martina, and Ladan Sharifian. "EU:s system för handel med utsläppsrätter i Sverige : En intervjustudie om några svenska energibolags och myndigheters uppfattning och agerande." Thesis, Linköping University, The Tema Institute, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-6804.
Full textAbstract:
Den 1 januari 2005, startades det europeiska handelssystemet med utsläppsrätter. Handelssystemet avser att minska
koldioxidutsläppen inom Europa, för att fullfölja åtagandet i Kyotoprotokollet. I Sverige har flera sektorer påverkats
av handeln med utsläppsrätter bl.a. energisektorn, som står i fokus för denna studie.
Syftet med uppsatsen är att studera hur de större och mindre energibolagen samt de ansvariga myndigheterna i
Sverige uppfattar systemet för handel med utsläppsrätter. För att uppfylla syftet formulerades ett antal
frågeställningar om hur energibolagen och myndigheterna ser på handelssystemets följande områden, fördelar och
nackdelar, implementering, tilldelningsprinciper, förbättringspotential, framtida utveckling, samt om det finns några
likheter och skillnader mellan energibolagen. Detta gjordes genom intervjuer med representanter från ett urval av
svenska energibolag och ansvariga myndigheter. Resultatet av intervjuerna analyserades och jämfördes med tidigare
studier. Därefter diskuterades frågeställningarna.
Slutsatserna visar att handelssystemet anses vara ett kostnadseffektivt styrmedel. Vidare visar slutsatserna att vid
implementeringen var tidspressen det största problemet för både energibolagen och myndigheterna. Vad gäller
tilldelningsprinciper föredrar energibolagen tilldelning baserad på riktmärken, detta bl.a. då de ser problem med
uppdatering av de historiska utsläppen. När det gäller handelssystemets förbättringspotential önskar energibolagen
främst större harmonisering, längre perioder samt en förenkling av reglerna och kraven. Både energibolagen och
myndigheterna framhåller att handelssystemets framtid är väldigt osäker och att det beror mycket på vilka
internationella beslut som fattas. En skillnad som har kunnat urskiljas mellan de större och mindre energibolagen är
att de större tänker globalt på klimatproblematiken och miljön, i jämförelse med de mindre energibolagen, vars fokus
ligger på den inhemska marknaden.
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Sabová, Katarína. "Analysis of the European energy industry with focus on the impact of the CO2 reduction measures." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-125095.
Full textAbstract:
The goal of this diploma thesis was to create a comprehensive overview of the recent devel-opment in the fight against the climate change in European Union and complement it with evidence on how the CO2 reduction measures impacted the energy industry. Firstly, the ener-gy industry of the European Union is introduced with its basic characteristics. Information on the climate change and on actions that have been established so far in order to fight the cli-mate change is also provided. Next, the theoretical knowledge from the environmental eco-nomics is presented together with the various concepts on how to address the issues connected with the externalities. EU ETS and renewable energy subsidies (FiTs) are further analyzed and practical insights on how the measures work are also offered. The practical part contributes with analyses of case studies of Germany and Czech Republic, in which the key success factors of the policies and their impact are assessed.
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Rodenberg, Ballweg Julie. "Testing the afforestation reservation price of small forest landowners in New Zealand." Thesis, University of Canterbury. School of Forestry, 2013. http://hdl.handle.net/10092/7536.
Full textAbstract:
The estimation of afforestation reservation prices for small landowners in New Zealand has not been the subject of much research despite its importance in predicting future land use. Reservation prices for planting represent the minimum payment a landowner must receive before converting land from agriculture to forest. A survey of 728 landowners from every region of New Zealand who own between 20 and 200 hectares of forest as well as other unplanted land used for agriculture were surveyed about forestland, forest land owner demographics, ownership objectives, silviculture and reservation prices.
In this study, reservation price strategies were investigated by offering hypothetical annual and one-time payments for converting land from agriculture to forestry. From this survey, the average one-time payment a landowner would be willing to accept to convert a hectare of land from agriculture to forestry was $3,554 and the average annual payment to convert a hectare of land was $360. The key factors influencing the reservation price were; whether or not the landowner lived on the property, if one of the ownership objectives was income from carbon, the primary agricultural enterprise and total household income. An implied discount rate was calculated for each landowner and excluding those who would not accept any payment the average after-tax discount rate was 9.7%.
Small landowners indicated that their primary reason for owning plantation forest was income from timber with very few landowners using their forest land for recreation. The median farm size was 400 hectares and the median forest plantation was 37 hectares. Planting of radiata pine peaked in 1994 and 1995 with more radiata pine planted in 1994 than in all the years from 2000-2009. Most landowners are performing some type of silviculture in their forests. Ninety percent of landowners are pruning in the current rotation while only 61% plan to prune in the future. Only 26% of landowners have engaged in any commercial harvesting in the past ten years but as their current rotation matures 71% plan to replant on the same site. A majority of respondents thought the situation for forest landowners was getting better.
Understanding the reservation price strategies of landowners is important for predicting future land use patterns and recognizing how close landowners are to converting land. The ownership objectives of landowners and the replanting decisions they make are critical for future timber supply. The results of this study can assist in the development of forest establishment incentive programmes. Better information about landowner characteristics will result in enhanced decision-making for the timber industry and the government in New Zealand.
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Tomás, Rogério António Ferreira. "Avaliação do impacto do plano nacional de atribuição de licenças de emissão na indústria química portuguesa." Master's thesis, ISEG, 2008. http://hdl.handle.net/10400.5/22171.
Full textAbstract:
MESTRADO EM GESTÃO E ESTRATÉGIA INDUSTRIAL.As alterações climáticas que se fazem sentir no planeta devem-se em parte ao chamado Efeito de Estufa, provocadas na sua grande maioria por emissões para a atmosfera de gases provenientes da actividade humana, nomeadamente, actividades económicas. Com o objectivo de combater estas alterações climáticas, foi assinado em 1997 o Protocolo de Quioto à Convenção Quadro das Nações Unidas sobre as Alterações Climáticas, tendo a União Europeia e os seus Estados-Membros assumido o compromisso de redução global de 8% das emissões de Gases com Efeito de Estufa, relativamente aos valores de 1990. Para cumprir este objectivo, a União Europeia aprovou a Directiva 2003/87/CE, e cada Estado-Membro desenvolveu um Plano Nacional de Atribuição de Licenças de Emissão, o que deu origem ao Comércio Europeu de Licenças de Emissão, com uma fase piloto de 2005 a 2007, seguindo-se um segundo período de 2008 a 2012, dotando os sectores afectados de um instrumento económico que lhes permita minimizar os custos, afectando o menos possível a sua competitividade. Na primeira fase, o Comércio Europeu de Licenças de Emissão irá abranger as emissões de dióxido de carbono de centrais termoeléctricas, refinarias, fomos de coque, siderurgias, as indústrias de cimento, cal, vidro, cerâmica, pasta e papel, bem como todas as instalações de combustão de outros processos industriais com uma potência térmica nominal superior a 20 MW, onde se incluem algumas instalações da Indústria Química. Partindo de uma base de comparação estabelecida a partir de estudos publicados, pretende-se com este trabalho avaliar potenciais impactos resultantes da comercialização de licenças de emissão na Indústria Química portuguesa, analisando a sua influência na estrutura de custos de produção marginal e total bem como potenciais efeitos na competitividade e inovação.
The EartlTs climate changes are caused by the so called Greenhouse Gas Effect, which is caused by the atmospheric emission of gases generated by human activities, namely economic activities. With the purpose of climate change mitigation the Kyoto Protocol to the United Nations Framework Convention on Climate Change was signed in 1997. The European Union and its Member States agreed in an 8% reduction of Greenhouse Gases emissions compared to 1990 leveis. In order to achieve this goal, the European Union approved the 2003/87/CE Directive, and each Member-State developed a National Allocation Plan, thus originating the European Union Emission Trading Scheme. With a pilot phase running ffom 2005 to 2007, followed by a second phase ffom 2008 to 2012, the European Union Emission Trading Scheme provides an economic instrument to the sectors included, which helps them to minimize costs, affecting their competitiveness the least possible. In the pilot phase, the European Union Emission Trading Scheme will cover carbon dioxide emissions ffom power generators, oil refineries, coke ovens, iron and steel, cement, lime, glass, ceramics, and pulp and paper, as well as ali combustion plants with a rated thermal input of more than 20MW of capacity, including some installations of the Chemical Industry. By establishing a comparison baseline from published literature, this work seeks to assess potential impacts in the Portuguese Chemical Industry arising from emission allowances trading, analysing its influence in marginal production costs as well as the potential effects on competitiveness and innovation.
info:eu-repo/semantics/publishedVersion
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Zamorano-Ford, Jorge. "Essays on environmental regulation under imperfect competition." Thesis, Paris 1, 2018. http://www.theses.fr/2018PA01E057.
Full textAbstract:
Cette thèse couvre deux sujets : le dessin des permis à polluer et la gestion des déchets. Le premier chapitre analyse la mise en œuvre des permis à polluer. Le chapitre se concentre sur les impacts de la distribution liés à la sévérité de l’allocation gratuite basée sur la production courante quand deux secteurs sont couverts par le marché des permis et le plafond reste constant. Un nouveau type d’augmentation des profits dans les secteurs qui ne sont pas exposés à la concurrence internationale a été démontré théoriquement. Le deuxième chapitre traite la question de la différenciation de l’allocation des permis dans les différentes régions, liée à la possibilité des entreprises à délocaliser. Les conditions dans lesquelles le bien-être décroît avec la délocalisation sont déterminées. Dans ce cas, des distributions gratuites de permis peuvent être utilisées pour éviter la délocalisation des entreprises. Le troisième chapitre compare l’efficacité des programmes de la responsabilité élargie du producteur (REP) avec l’efficacité d’une ex-ante taxe. La taxe permet plus de flexibilité ex-ante quant aux conditions du marché, mais la REP permet plus d’adaptation ex-post aux réalisations des coûts. Ainsi, l’efficacité relative de la REP augmente avec l’incertitude des coûts et la compétitivité du marchéThis thesis covers two subjects. One is the design of pollution permits and the other is the waste management. The first chapter analyses the implementation of pollution permits. It focuses on the distributional impacts linked with the stringency of output-based allocation,when two sectors are covered by the market for permits and the total cap is held constant. Theoretically demonstrated is a new type of profit increase in sectors that are not exposed to international competition. The second chapter addresses the issue of differentiating permit allocation across areas, this being linked to the possibility of firms to relocate. The conditions under which welfare decreases with relocation are determined. In such a case, free allowances may be used to prevent firms from relocating. The third chapter compares the efficiency of extended producer responsibility (EPR) programs and the efficiency of an ex-ante tax. The tax allows more ex-ante flexibility regarding market conditions, but the EPR allows more ex-post adaption to cost realizations. As a result, the relative efficiency of the EPR increases with uncertainty of the costs and competitiveness of the market
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Leclerc, Thomas. "Les mesures correctives des émissions aériennes de gaz à effet de serre : Contribution à l'étude des interactions entre les ordres juridiques en droit international public." Thesis, Bordeaux, 2017. http://www.theses.fr/2017BORD0751/document.
Full textAbstract:
La recherche d'une mesure mondiale et corrective des émissions de gaz à effet de serreafin de réduire l'impact de l'activité aérienne internationale sur les changements climatiques a étéconfrontée à l'émergence d'obstacles, sous forme de conflits de normes, liés au défi général del'interaction entre le droit international de l'aviation civile, le droit international des changementsclimatiques et le droit de l'Union européenne. La conciliation des normes matérielles etinstitutionnelles concernées, sur la base d'une interprétation évolutive de la convention de Chicago,est alors apparue comme l'unique solution pour remédier aux situations conflictuelles constatées.Le recours à cette démarche interprétative maintient néanmoins un climat d'insécurité juridique etpose la question des limites à l'adaptation du droit international de l'aviation civile au défi d'uneprotection du climat mondial. Ce travail d'analyse vise alors à démontrer qu'un recours à cettedémarche interprétative n'est pas toujours nécessaire et qu'une application rigoureuse de ladistinction intrinsèque au droit international de l'aviation civile séparant le domaine de lanavigation aérienne du domaine du transport aérien international est la clef du problème. Ellepermet en effet de proposer une solution corrective respectueuse des ordres juridiques fonctionnelsconcernés tout en rétablissant un climat de sécurité juridique indispensable au développementsoutenable de l'aviation civile internationaleLooking for a global and corrective measure to reduce greenhouse gas emissions frominternational civil aviation has been facing legal obstacles. These obstacles took the form ofconflicts of norms linked to the general challenge of the interactions between international aviationlaw, climate change law and the law of the European Union. Using evolutionary interpretation ofthe Chicago Convention in order to reconcile norms of substantive and institutional nature emergedas the best solution. However, this method perpetuates legal uncertainty and poses the generalchallenge of flexibly and elasticity of the Chicago Convention in response to the climate changechallenge. This study examines the above mentioned issues of interactions between legal ordersand provides recommendations to restore legal certainty needed to ensure sustainable developmentof international civil aviation. More specifically, this study reveals the underestimated relevance ofthe ongoing distinction between the legal regimes of air navigation and air transport, which is a keylegal element in the search for a global and corrective solution to the impact of international civilaviation on climate change
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Wardley, Neale. "The Greenhouse Gas Emissions Trading Journey: Finding the Balance between Acceptance, Effectiveness and Emissions Reduction." Thesis, 2020. https://vuir.vu.edu.au/42035/.
Full textAbstract:
For over a decade this study followed designs for emissions trading schemes (ETS) that have emerged in response to global warming. An ETS is considered a cost-effective instrument to mitigate pollution (UNFCCC, 2006). Early in this study indications were that several operational ETSs struggled to achieve their emission reduction goals. Considering this problem, the study looks at the competing constraints of acceptance, effectiveness, and emissions reduction.
The parameters of an ETS can be adjusted in relation to these constraints and the study also considers the alignment of nine design factors to these constraints. The design factors considered are legislation, governance, compliance, rules, compensation, targets, phasing-in, coverage and the distribution of allowances. It emerges that adjustments in terms of factor alignment may affect a schemes ability to reduce emissions.
Other important factors sit outside the scope of this study, i.e. variations in greenhouse gas emissions as a result of the GFC and later COVID-19, also alternative mitigation policies, human adaptation, and innovative technologies.
Viewed in a comparative manner the main case studies are the antecedent US Acid Rain Program (US ARP), the European Union Emission Trading System (EU ETS) and the US Regional Greenhouse Gas Initiative (RGGI). Other ETS designs that provide data for the study include the UK Emissions Trading Scheme (UK ETS), the Carbon Pollution Reduction Scheme (CRPS), which later became known as the Australian Carbon Tax, and the Californian Cap and Trade Program (CCTP).
An effective ETS may perform adequately in relation to its’ goals for governance and compliance, although it can be shown that if the design leans too far toward acceptance the capacity for emissions reduction is diminished. According to the conceptual framework developed early in the study, over time the relationship between the constraints and the design factors should be revised toward reducing emissions.
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Maina, Peter Njuguna. "Recognition, measurement and reporting for cap and trade schemes in the agricultural sector." Thesis, 2016. http://hdl.handle.net/10500/21522.
Full textAbstract:
The pressing global demand to transform to a low-carbon business community, which is required by the urgency of mitigating climate change, significantly alters the operating procedures for carbon emitters and carbon revenue generators alike. Although agricultural activities are not considered as heavy carbon emission source, the increased public focus on climate change has catapulted the exploitation of sustainable agricultural land management mitigating strategies as intervention by the sector. Additionally, the focus on market-based mechanism to address climate change, which has led to the evolution of cap-and-trade schemes, makes the agricultural sector become a source of low-cost carbon offsets. However, the fact that cap-and-trade schemes in the agricultural sector are voluntary has resulted into not only very diverse farming practices but also diverse accounting practices. The consequences of the diversity practices are that, the impacts on financial performance and position are not comparable. Therefore, the overall objective of this study was to investigate the recognition, measurement and disclosure for cap-and-trade schemes in the agricultural sectors
This study was conducted through literature reviews and empirical test. A qualitative research approach utilising constructivist methodology was employed. Primary data was collected in Kenya by administering three sets of semi-structured questionnaires to drafters of financial statements, loan officers and financial consultants. Secondary data involved content analysis of financial statements and reports of listed entities across the globe. It was established that proper accounting for cap-and-trade schemes adaptation activities is critical to the success of an entity’s environmental portfolio. Additionally, a model for valuing an organisation's carbon capture potential as suggested by this study enables entities to better report the impact of the adaptation activities on the financial performance and financial position. The outcome of this study enables entities to integrate the carbon capture potential on an entity sustainability reporting framework.Colleges of Economic and Management Sciences
D. Phil. (Accounting Science)
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Lo, I.-tzu, and 駱憶慈. "A Study of Legal Issues for Emission Trading Scheme:Focused on Establishing Emission Trading Scheme." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/64999100296842864381.
Full textAbstract:
碩士東吳大學
法律學系
99
Because the emissions of massively greenhouse gas, global warming is getting worse and worse. Global warming directly impacts the flora and fauna, as well as the survival of mankind; moreover, it threatens the Earth's natural ecology and cultural environment. Global warming not only leads to an extreme change of the environment, but also becomes a threat of the human beings. Therefore, the global warming has become a climate issue to be sought out urgently, and environmental issue has become one of the key subjects between international communities. In order to stop global warming, members in the international community have many discussions in searching for solutions therefor every year since the 20th century. Subsequently, some of the countries affixed their signatures to the United Nations Framework Convention for Climate Change (UNFCCC) and Kyoto Protocol. The Convention encourages industrialized countries to stabilize greenhouse gas emissions, and the Protocol commits them to do so, and reduction of greenhouse gas emission must be done in line with the Kyoto Protocol. Countries have different views in controlling greenhouse gas. Emission trading system is the currently accepted solution by countries of the world. Through the way, the enterprises could reach the targets of greenhouse gas reduction costly and effectively. This context involves deeply the discussions on the process of the Kyoto Mechanisms set up in Kyoto Protocol, and setting out the instances such as the plan of European Union Emissions Trading Scheme (EU ETS), the plan of United Kingdom Emissions Trading Scheme (UK ETS), the experiences of the U.S.’s Emission Trading, that is the Chicago Climate Exchange (CCX) and Acid Rain Program. In addition, the context also analyzes different categories of government policy, law, regulation and outcomes of carbon emission trading, and compares them with Taiwan's existing greenhouse gas emissions policy to make specific recommendations. Accordingly, by studying the authentic experience of the legislative environmental protection in the European Union, United Kingdom, and United States, the essence of the emission trading system, and the trend and style of the emission trading developed in other countries, we hope that Taiwan’s future environmental policy and the Emission Trading Scheme can be built up. Thus, under the benefits of both the country’s economical development and environmental protection, the authentic deduction of the greenhouse gas could be reached and the international Carbon Emission Trading could be connected with that of Taiwan.
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Chang, Wei-Ju, and 張瑋儒. "EU Climate Governance:The Policy Decision of Emissions Trading Scheme." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/23172221000545391045.
Full textAbstract:
碩士國立臺灣大學
政治學研究所
99
In the field of global environmental politic, European Union plays a crucial role. This study aims to investigate EU climate governance through the perspective of multi-level governance, using Emission Trading Scheme as case study. The policy-forming process of ETS can be analyzed in national, supranational and transnational levels. Three characteristics of EU climate governance are revealed by multi-level analysis. The first characteristic would be multi-actor, which means that the policy is formed by numbers of agents containing EU institutions, national governments, environmental NGOs, industries and scientific communities. The ultimate goal of these actors is to reach a consensus through negotiation. The second characteristic refers to the existing of multi-level channels in decision making process, including official and non-official ones, which shape into an interdependent and decentralized networking structure, and thus enhance the interaction between involving actors. The differentiation of policy issues is the third characteristic. Under this circumstance, climate governance becomes a highly professional issue. Technological bureaucrats and specialized knowledge are required when designing and promoting related policies. First chapter states the motives and purposes, range and restrictions, and literature review of the research. Chapter two probes into the theory of multi-level governance. Chapter three examines the evolution of EU environmental and climate policies historically. The following three chapters are case study, investigating how EU finally achieves to pass the ETS directive from the beginning. Chapter eight is an overall overview of the research.
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Hsu, Ching-Cheih, and 許靖傑. "Study of Emission Trading Scheme in Taiwan under Globalization." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/65691717851665802831.
Full textAbstract:
碩士中原大學
財經法律研究所
104
This paper discusses what kinds of reduction strategies and means for Greenhouse gases do we select in Taiwan . And under globalization could it achieve the reduction target and development of the national economy. In the second chapter , based on an understanding of globalization to discuss characteristics and implications of globalization , then makes a link on environmental issues to explain the difficulty of governance on cross-regional environmental problems. And take as an example the United Nations Convention on Climate Change to explain Greenhouse gas reduction governance status and trends of globalization. Third chapter will describe and compare various characteristics of greenhouse gas reduction tool of the advantages and disadvantages. In addition I will make a comparison between States greenhouse gas reduction regime adopting tool. Chapter Four will observes and describe Greenhouse Gas Emission Reduction and Management Act, and analysis the problems and plights of this Act. The last on Chapter Four I will propose a new scheme that combine carbon tax and emission trading system, and also try to analysis the problems and plights of this scheme. The chapter Five will makes a conclusion on the how to achieve target of greenhouse gas reduction.
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Chen, Yi-Jun, and 陳怡君. "A Study on Proper Legal Design of Emissions Trading Scheme in Taiwan." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/99079579484860847692.
Full textAbstract:
碩士國立清華大學
科技法律研究所
100
The term “emissions trading” simply refers to a tradeable-permit system in which a greenhouse gases emitter (a firm or country) can buy and sell permission to emit a certain amount of emissions from or to other emitters who are below or above their limits. Emissions trading was proposed as a legal instrument designed to reduce global greenhouse gas emissions at the Rio Summit in 1992. Its principal advantage is that it provides first for a stabilization of global pollution levels, and subsequently for a gradual reduction in the total global level. Emissions trading systems also provide individual emitters with the flexibility to decide what emission levels to aim for, and the incentive to accomplish their goals. These systems are intentionally designed to reduce pollution without impeding economic development as well as to minimize the cost of meeting target levels. This paper reviews several emissions trading programs including the U.S Acid Rain Program, the Regional Greenhouse Gas Initiative, the Kyoto Protocol, and EU trading schemes, to demonstrate the basic common structure of emissions trading systems. The focus will be on five major issues within emissions trading programs: cap settings, regulated scopes, allocation of allowances, flexible mechanisms, and penalties for over emission, and will conclude with a viable emissions trading program for Taiwan. Given that Taiwan is not yet legally bound by the Kyoto Protocol, the first step the Taiwanese government should take is to set short and long-term strategies regarding official climate change policy. Second, the government should adopt a legally binding emissions target for the nation. Third, based upon the short and long term strategies, the regulated scope should be decided upon. Forth, offset programs and flexible mechanisms should be decided upon and adopted to enhance the overall program. And fifth, current policies regarding penalties for overemitting should be reviewed and updated where necessary.
50
Wang, Wen-Shiang, and 王文祥. "A Study of Unit Commitment under Cap Carbon Emission Trading Scheme." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/93810857850322541564.
Full textAbstract:
博士元智大學
工業工程與管理學系
97
Traditionally, the Unit Commitment (UC) strategy of operating dispatch in power system is mainly concerned with the economic dispatch. However, because global warming is becoming more and more serious, it has become an important task to control greenhouse gases. The Kyoto Protocol, an agreement linked to the United Nations Framework Convention on Climate Change, was adopted in 1997, and the Carbon Cap-and-Trade (CCT) concept is applied to the enforcement of reducing carbon emissions and the mechanism of emissions trading; the Kyoto Protocal is therefore become an internationally recognized program to reduce carbon emissions. This paper aims at probing into the influence of the CCT concept on the the UC strategy of operating dispatch in power system. Based on the frame of the UC problem, the proposed integrated GA/PSO algorithm is efficiently to solve the dispatch problem on the UC operating strategy. Meanwhile, the CCTUC (Carbon Cap-and-Trade of Unit Commitment) based on CCT concept, is also combined with the propose MRS algorithm to solve the dispatch of reducing emissions. By using the IEEE-30 bus system to test, the MRS function is being proved the result of dispatch emissions in the peak and off-peak periods, meet the constraints of total emission control. Compared with the solution of the ECUC (Emission Constrainted Unit Commitment) problem, which the control of the total emissionis the only consideration, the model of CCTUC is more flexible in dispatch because it can use different ways to reduce carbon emissions; besides, its total cost is lower than the cost in the dispatch model of the ECUC problem. Therefore, it is more in line with the demand of the power industry to face the increasingly stringent regulations on reducing emissions.