Emission trading beyond Europe linking schemes in a Post-Kyoto world

This paper assesses the economic impacts of linking the EU Emission Trading Scheme (ETS) to emerging schemes beyond Europe, in the presence of a post-Kyoto agreement in 2020. Simulations with a numerical multi-country model of the world carbon market show that linking the European ETS induces only m...

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1. Verfasser: Anger, Niels (VerfasserIn)
Format: UnknownFormat
Sprache:eng
Veröffentlicht: Mannheim ZEW Zentrum für Europäische Wirtschaftsforschung 2006
Schriftenreihe:Discussion paper 06-058 : Environmental and resource economics and environmental management
Schlagworte:
Europäische Union > Rahmenübereinkommen der Vereinten Nationen über Klimaänderungen > Umweltzertifikathandel > Clean Development Mechanism
Online Zugang:http://opus.zbw-kiel.de/volltexte/2007/5452/pdf/dp06058.pdf
ftp://ftp.zew.de/pub/zew-docs/dp/dp06058.pdf
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Zusammenfassung:This paper assesses the economic impacts of linking the EU Emission Trading Scheme (ETS) to emerging schemes beyond Europe, in the presence of a post-Kyoto agreement in 2020. Simulations with a numerical multi-country model of the world carbon market show that linking the European ETS induces only marginal economic benefits: As trading is restricted to energy-intensive industries that are assigned generous initial emissions, the major compliance burden is carried by non-trading industries excluded from the linked ETS. In the presence of parallel government trading under a post-Kyoto Protocol, excluded sectors can however be substantially compensated by international trading at the country level, thus increasing the political attractiveness of the linking process. From an efficiency perspective, a desirable future climate policy regime represents a joint trading system that enables international emission trading between ETS companies and governments. While the Clean Development Mechanism (CDM) cannot alleviate the inefficiencies of linked ETS, in a parallel or joint trading regime the access to abatement options of developing countries induces large additional cost savings. Restricting CDM access via a supplementarity criterion does not significantly decrease the economic benefits from project-based emission crediting.
Beschreibung:Literaturverz. S. 29-31
Beschreibung:36 S.
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