bleischwitz, raimund and fuhrmann, katrin and huchler, elias (2007): The Sustainability Impact of the EU Emissions Trading System on the European Industry. Published in: Bruges European Economic Policy Paper No. briefing no. 17 (September 2007): pp. 1-33.
Download (728kB) | Preview
This BEEP explains the mechanism of the EU Emissions Trading System (ETS) for the greenhouse gas carbon dioxide and explore into its likely sustainability impact on European industry. In doing so, it focuses on energy-intensive indus-tries like cement, steel and aluminium production as well as on the emerging hy-drogen economy. The BEEP concludes that at the moment it is still very inconsis-tently implemented and has a fairly narrow scope regarding greenhouse gases and involved sectors. It may also give an incentive to relocate for energy-intensive industries. In its current format, the EU ETS does not yet properly facilitate long term innovation dynamics such as the transition to a hydrogen economy. Nevertheless, the EU ETS is foremost a working system that – with some improvements – has the potential to become a pillar for effective and efficient climate change policy that also gives incentives for investment into climate friendly policies.
|Item Type:||MPRA Paper|
|Original Title:||The Sustainability Impact of the EU Emissions Trading System on the European Industry|
|English Title:||The Sustainability Impact of the EU Emissions Trading System on the European Industry|
|Keywords:||emissions trading, EU, sustainability|
|Subjects:||K - Law and Economics > K3 - Other Substantive Areas of Law > K32 - Environmental, Health, and Safety Law
F - International Economics > F1 - Trade > F15 - Economic Integration
L - Industrial Organization > L5 - Regulation and Industrial Policy > L51 - Economics of Regulation
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q58 - Government Policy
|Depositing User:||raimund bleischwitz|
|Date Deposited:||08. Apr 2009 03:30|
|Last Modified:||12. Feb 2013 00:42|
ANGER, N.; BROUNS, B.; ONIGKEIT, J. (2006), Economic Impacts and Emission Ef-fects of Linking the EU Emissions Trading Scheme in the Context of Post 2012 Re-duction Targets, JET-SET Project Report. (available at: http://www.wupperinst.org/de/info/detailseite_mit_datum/index.html?&beitrag_id=360&projekt_id=97&bid=66&searchart= )
BAUMOL, W.; OATES, W. (1988), The Theory of Environmental Policy. Second edition, Cambridge Univ. Press, Cambridge.
BLEISCHWITZ, R.; FUHRMANN, K. (2006), Introduction into the special issue on hy-drogen, in: Energy Policy, 34, pp. 1223 – 1226.
CARBON TRUST (2004), The European Emissions Trading Scheme – Implications for Industrial competitiveness, Carbon Trust, London.
CARBON TRUST (2006), Allocation and Competitiveness in the EU Emissions Trading Scheme – Options for Phase II and beyond, Carbon Trust, London.
CARRARO, C.; EGENHOFER, C. (Eds.) (2003), Firms, Governments and Climate Policy. Incentive-Based Policies for Long-term Climate Change, Edward Elgar.
CEMBUREAU (2006), Activity Report 2005, Brussels.
CONVERY, F. (2003), Issues in emissions trading- an introduction, Policy Brief, 1, Environmental Institute, University College Dublin.
CONVERY, F. (2005), European Emissions Trading- A first assessment and the way ahead, Commentary by Frank Convery, Presented at: Future European Challenges con-ference, organised by the Toyota Chair of the College of Europe, Bruges and the European Policy Centre, 12th January, 2005, Crown Plaza Hotel, Brussels.
ECOFYS (2006), Auctioning of CO2 Emission Allowances in the EU ETS – Report under Review of the Emissions Trading Scheme, Brussels.
ENDRES, A.; OHL, C. (2005), Kyoto, Europe? – An economic evaluation of the European Emission trading directive, in: European Journal of Law and Economics, 19, pp. 17 – 39.
EUROPEAN COMMISSION/EC (2005a), EU action against climate change- EU emis-sions trading scheme, an open scheme promoting global innovation, Brussels.
EUROPEAN COMMISSION/EC (2005b), COMMUNICATION FROM THE COMMIS-SION “Further guidance on allocation plans for the 2008 to 2012 trading period of the EU Emission Trading Scheme”, COM (2005) 703 final, Brussels.
EUROPEAN COMMISSION/EC (2006a), Communication from the Commission to the council, the European Parliament, The European Economic and Social Committee and the Committee of the Regions-Building a global carbon market – Report pursuant to Article 30 of Directive 2003/87/EC, COM(2006)676 Final, Brussels.
EUROPEAN COMMISSION/EC (2006b), Climate change: Commission proposes bringing air transport into EU Emissions Trading Scheme, Press Release, IP/06/1862, Brussels.
EUROPEAN COMMISSION/EC (2007a), Commission proposes an integrated energy and climate change package to cut emissions for the 21st Century, Press Release, IP/07/29, Brussels.
EUROPEAN COMMISSION/EC (2007b), Green Paper on market based instruments for environment and energy related policy purposes” COM(2007) 140 Final, Brussels.
EUROPEAN ENVIRONMENT AGENCY/EEA (2005), Market Based Instruments for Environmental Policy in Europe, EEA Technical Report No 8/2005 ISBN: 92-9167-782-5, Copenhagen.
EUROPEAN ENVIRONMENT AGENCY/EEA (2006), Application of the emissions trading directive by EU-Member States, EEA Technical Report No 2/2006, ISBN1725-2237, Copenhagen.
HUCHLER, E. (2007), The business impact of the EU emissions trading scheme: The case of the power generating industry and the steel industry, Master Thesis at the College of Europe, Bruges.
IEA/OECD (2004), Linking Non-EU Domestic Emissions Trading Schemes with the EU Emissions Trading Scheme, IEA/OECD Paper, Paris.
IEA(2005), World Energy Outlook, IEA, Paris.
KLEPPER, G.; PETERSON, S. (2003), International Trade and Competitive Effects, Pol-icy Brief, 6, Environmental Institute, University College, Dublin.
LANGROCK, T.; STERK, W. (2004), Linking CDM & JI with EU emission allowance trading, Wuppertal Institute for Climate, Environment and Energy, Wuppertal.
LEVERE, J. (2003), Linking emissions trading and project based mechanisms, Policy Brief, 5, Environmental Institute, University College Dublin.
MCKINSEY and ECOFYS (2005), Review of Eu Emissions Trading Scheme-Survey Highlights, Brussels.
MCKINSEY and ECOFYS (2006), EU ETS Review- Report on International Competitive-ness, Brussels.
MICHAELOWA, A.; BUTZENGEIGER, S. (2005), EU emissions trading: navigating between Scylla and Charybdis, Climate Policy, 5, p.1-9.
PAOLELLA, M.; TASCHINI, L. (2006), An Econometric Analysis of Emissions Trading Allowances, Swiss Finance Institute Research Paper Series, N°6 - 26, Zürich.
SCHÜLE, R. et al. (2006), Linking Emissions Trading Schemes: Institutional, Economic and Environmental Effects of Policy Scenarios, JET-SET Project Report.
SIJM, J.P.M. et al. (2005): CO2 price dynamics: The implications of EU emissions trading for the price of electricity. Energy Research Centre of the Netherlands, Petten
SIJM, J.P.M. et al. (2006): CO2 cost Pass Through and Windfall Profits in the Power Sec-tor. Cambridge Working Papers in Economics 0639, Cambridge.
STERN, N. (2006), The Economics of Climate Change: The Stern Review, Cabinet Office - HM Treasury, Cambridge University Press. (available at: http://www.hm-treaury.gov.uk/independent_reviews/stern_review_economics_climate_change/stern_review_report.cfm)
WILLIAMSON, O. E. (1985), The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting, New York (Free Press).
WIT,R.; BOON, A., VAN VELZEN, A.; CAMES, M.; DEUBER, O.; LEE, D. (2005), Giving wings to emission trading - Inclusion of aviation under the European Emission Trading System (ETS): Design and impacts, CE, Delft.
ZERBE, R. O. (2001), Economic Efficiency in Law and Economics, Cheltenham: Edward Elgar.