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Assessing the performance of the UK Emissions Trading Scheme

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Author Info
Stephen Smith ()
Joseph Swierzbinski

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Abstract

The UK’s Climate Change Programme introduced an Emissions Trading Scheme (ETS) for greenhouse gases. Firms in over 40 industrial sectors which have negotiated “Climate Change Agreements” setting quantitative energy efficiency targets can use the ETS to trade over-and under-compliance with these targets. In parallel, a limited number of firms have become major participants in the ETS as a result of an auction of subsidies for additional abatement commitments. The paper describes the UK arrangements and assesses the economic efficiency and environmental effectiveness of the ETS, drawing on evidence of participants’ behaviour both in the incentive auction, and in subsequent trading. Copyright Springer Science+Business Media, Inc. 2007

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File URL: http://hdl.handle.net/10.1007/s10640-007-9108-5
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Publisher Info
Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 37 (2007)
Issue (Month): 1 (May)
Pages: 131-158
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Handle: RePEc:kap:enreec:v:37:y:2007:i:1:p:131-158

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Web page: http://www.springerlink.com/link.asp?id=100263

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Related research
Keywords: Emissions trading; Tradeable permits; Auctions; Market efficiency; Greenhouse gas abatement; Climate change policies;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Hahn, Robert W, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, MIT Press, vol. 99(4), pages 753-65, November. [Downloadable!] (restricted)
    Other versions:
  2. Misiolek, Walter S. & Elder, Harold W., 1989. "Exclusionary manipulation of markets for pollution rights," Journal of Environmental Economics and Management, Elsevier, vol. 16(2), pages 156-166, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Marin, Giovanni & Mazzanti, Massimiliano, 2009. "The dynamics of delinking in industrial emissions: The role of productivity, trade and R&D," MPRA Paper 17536, University Library of Munich, Germany. [Downloadable!]
  2. Ian Bateman & Edward Barbier & Scott Barrett, 2007. "Introduction to the special issue in honour of David W. Pearce: environmental economics and policy," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 1-6, May. [Downloadable!] (restricted)
  3. Lori Bennear & Robert Stavins, 2007. "Second-best theory and the use of multiple policy instruments," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 111-129, May. [Downloadable!] (restricted)
  4. Frank Convery, 2007. "Making a difference — how environmental economists can influence the policy process — a case study of David W Pearce," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 7-32, May. [Downloadable!] (restricted)
  5. Jean-Philippe Barde, 2007. "Harnessing the political economy of environmental policy: David Pearce’s contribution to OECD," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 33-42, May. [Downloadable!] (restricted)
  6. Alistair Ulph & David Ulph, 2007. "Climate change—environmental and technology policies in a strategic context," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 159-180, May. [Downloadable!] (restricted)
  7. Giles Atkinson & Kirk Hamilton, 2007. "Progress along the path: evolving issues in the measurement of genuine saving," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 43-61, May. [Downloadable!] (restricted)
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