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The political economy of a tradable GHG permit market in the European Union

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Author Info

  • Markussen, Peter

    (Department of Economics, Aarhus School of Business)

  • Svendsen, Gert Tinggaard

    ()
    (Department of Economics, Aarhus School of Business)

  • Vesterdal, Morten

    (Department of Economics, Aarhus School of Business)

Abstract

The EU has committed itself to meet an 8% greenhouse gas (GHG) reduction target level following the Kyoto agreement. Therefore, the EU Commission has just proposed a new directive establishing a framework for GHG emissions trading within the European Union. This proposal is the outcome of a policy process started by the EU Commission and its Green Paper from March 2000. The main industrial stakeholders all had the opportunity to comment on the Green Paper and from their positions we will analyse how far they are winners or losers compared to the final directive proposal. Here, we find that the dominant interest groups indeed influenced the final design of an EU GHG market. This industrial rent-seeking most prominently lead to a grandfathered permit allocation rule like the one found in the US tradable permit systems.

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File URL: http://www.hha.dk/nat/WPER/02-3_gts.pdf
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Bibliographic Info

Paper provided by University of Aarhus, Aarhus School of Business, Department of Economics in its series Working Papers with number 02-3.

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Length: 22 pages
Date of creation: 01 Jan 2002
Date of revision:
Handle: RePEc:hhs:aareco:2002_003

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Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark
Phone: +45 89 486396
Fax: +45 8615 5175
Web page: http://www.asb.dk/departments/nat.aspx
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Related research

Keywords: Rent-seeking; European Union; political economy; Kyoto protocol; greenhouse gases; permit trading; grandfathering;

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References

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  1. Greenwood, Justin & Webster, Ruth, 2000. "Are EU Business Associations Governable?," European Integration online Papers (EIoP), European Community Studies Association Austria (ECSA-A), vol. 4, 02.
  2. Svendsen, Gert Tinggaard, 1999. " U.S. Interest Groups Prefer Emission Trading: A New Perspective," Public Choice, Springer, vol. 101(1-2), pages 109-28, October.
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Cited by:
  1. Urs Steiner Brandt & Gert Tinggaard Svendsen, 2002. "Rent-seeking and grandfathering: The case of GHG trade in the EU," Working Papers 35/02, University of Southern Denmark, Department of Environmental and Business Economics.
  2. Andrea Kollmann & Friedrich Schneider, 2010. "Why Does Environmental Policy in Representative Democracies Tend to Be Inadequate? A Preliminary Public Choice Analysis," Sustainability, MDPI, Open Access Journal, vol. 2(12), pages 3710-3734, November.
  3. Sven Rudolph & Friedrich Schneider, 2011. "Did the Japanese Patient Follow the Doctor's Orders? Mostly no! A Public Choice Analysis of Greenhouse Gas Emissions Trading Schemes in Japan before and after the Earthquake," CESifo Working Paper Series 3639, CESifo Group Munich.

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