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Globalization, climate change and carbon markets

Author

Listed:
  • Florina Bran

    (Faculty of Agro-Food and Environmental Economics, The Bucharest University of Economic Studies, Romania)

  • Ildiko Ioan

    (Faculty of Agro-Food and Environmental Economics, The Bucharest University of Economic Studies, Romania)

  • Mariana Iovitu

    (Faculty of Agro-Food and Environmental Economics, The Bucharest University of Economic Studies, Romania)

Abstract

Climate change is pictured like the most threatening environmental outcome of the recent industry driven economic and social development. Fighting against climate change has a great legitimacy and the public at large seldom question the necessity of governmental intervention in this respect. The global financial crisis and the globalized markets are external factors that tailored some unexpected results of climate policy implementation in the European Union. Thus, along with expected progress in emission abatement, some companies improved their economic and financial indicators on the carbon market. The paper reveals the mechanism of this process, outlines some quantitative milestones and concludes that the public at large might loss some of the commitment to climate change mitigation by finding itself in the role of main financial supporter of the climate policy.

Suggested Citation

  • Florina Bran & Ildiko Ioan & Mariana Iovitu, 2014. "Globalization, climate change and carbon markets," International Conference on Competitiveness of Agro-food and Environmental Economy Proceedings, The Bucharest University of Economic Studies, vol. 3, pages 132-142.
    • Handle: RePEc:aes:icafee:v:3:y:2014:p:132-142
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