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European Climate Policy: Critical Aspects

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  • Simone Borghesi

Abstract

This study examines the European energy policy of the last few years, highlighting certain shortcomings in the European emission trading scheme (Ets) and the rate of transition towards renewable resources. As emerges from the analysis, despite the past difficulties experienced in achieving its targets in terms of emissions reduction and proportion of renewable resources, the European Union has set even more ambitious goals for the future. However, this policy of raising and postponing the target, together with some drawbacks in the Ets, may generate time consistency problems that can hamper Europe’s capacity to achieve its energy targets.

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Bibliographic Info

Article provided by Associazione Rossi Doria in its journal QA.

Volume (Year): (2011)
Issue (Month): 2 (June)
Pages:

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Handle: RePEc:rar:journl:0214

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Keywords: Climate change; Energy policy; European union; Emission trading system (Ets); Renewable energy sources; Time consistency;

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  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.
  2. Cramton, Peter & Kerr, Suzi, 2002. "Tradeable carbon permit auctions: How and why to auction not grandfather," Energy Policy, Elsevier, vol. 30(4), pages 333-345, March.
  3. Kruger, Joseph & Oates, Wallace E. & Pizer, William A., 2007. "Decentralization in the EU Emissions Trading Scheme and Lessons for Global Policy," Discussion Papers dp-07-02, Resources For the Future.
  4. Parry, Ian W. H. & Williams, Roberton III & Goulder, Lawrence H., 1999. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," Journal of Environmental Economics and Management, Elsevier, vol. 37(1), pages 52-84, January.
  5. Simone Borghesi, 2008. "From Hubbert to Kuznets: on the sustainability of the current energy system," International Journal of Global Environmental Issues, Inderscience Enterprises Ltd, vol. 8(4), pages 425-444.
  6. Edilio Valentini & Edilio Valentini, 2008. "Enforcement and Environmental Quality in a Decentralized Emission Trading System," Working Papers 2008.97, Fondazione Eni Enrico Mattei.
  7. Markussen, Peter & Svendsen, Gert Tinggaard, 2005. "Industry lobbying and the political economy of GHG trade in the European Union," Energy Policy, Elsevier, vol. 33(2), pages 245-255, January.
  8. Stephen Smith & Joseph Swierzbinski, 2007. "Assessing the performance of the UK Emissions Trading Scheme," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 131-158, May.
  9. Hagem, Cathrine & Westskog, Hege, 1998. "The Design of a Dynamic Tradeable Quota System under Market Imperfections," Journal of Environmental Economics and Management, Elsevier, vol. 36(1), pages 89-107, July.
  10. Don Bredin & Cal Muckley, 2010. "An Analysis of the EU Emission Trading Scheme," Working Papers 201003, Geary Institute, University College Dublin.
  11. Claudia Kettner & Angela Köppl & Stefan Schleicher, 2010. "The EU Emission Trading Scheme. Insights from the First Trading Years with a Focus on Price Volatility," WIFO Working Papers 368, WIFO.
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