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The future of the European Emission Trading System and the Clean Development Mechanism in a post-Kyoto world

  • Klepper, Gernot
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    This paper discusses developments in the markets for CO2 emissions rights since the Kyoto Protocol was signed. The different emissions trading schemes, dominated by the Emission Trading System of the European Union and the Clean Development Mechanism, are surveyed. These schemes will need to be incorporated into any post-Kyoto multilateral agreement. Drawing on a simple model, the paper analyzes the incentives that developing and developed countries face for continuing or transforming the Clean Development Mechanism in the light of future agreements for a worldwide emissions control program.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0140988311000168
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    Article provided by Elsevier in its journal Energy Economics.

    Volume (Year): 33 (2011)
    Issue (Month): 4 (July)
    Pages: 687-698

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    Handle: RePEc:eee:eneeco:v:33:y:2011:i:4:p:687-698
    Contact details of provider: Web page: http://www.elsevier.com/locate/eneco

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    1. William D. Nordhaus, 2006. "After Kyoto: Alternative Mechanisms to Control Global Warming," American Economic Review, American Economic Association, vol. 96(2), pages 31-34, May.
    2. Klepper, Gernot & Peterson, Sonja, 2004. "The EU emissions trading scheme: allowance prices, trade flows, competitiveness effects," Kiel Working Papers 1195, Kiel Institute for the World Economy (IfW).
    3. Andreas Tuerk & Michael Mehling & Christian Flachsland & Wolfgang Sterk, 2009. "Linking carbon markets: concepts, case studies and pathways," Climate Policy, Taylor & Francis Journals, vol. 9(4), pages 341-357, July.
    4. Frank J. Convery, 2009. "Reflections--The Emerging Literature on Emissions Trading in Europe," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 3(1), pages 121-137, Winter.
    5. Klepper, Gernot & Peterson, Sonja, 2006. "Marginal abatement cost curves in general equilibrium: The influence of world energy prices," Resource and Energy Economics, Elsevier, vol. 28(1), pages 1-23, January.
    6. Scott Barrett, 2006. "Climate Treaties and "Breakthrough" Technologies," American Economic Review, American Economic Association, vol. 96(2), pages 22-25, May.
    7. Gernot Klepper & Sonja Peterson, 2006. "Emissions Trading, CDM, JI, and More: The Climate Strategy of the EU," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 1-26.
    8. Schleich, Joachim & Rogge, Karoline S. & Betz, Regina, 2008. "Incentives for energy efficiency in the EU Emissions Trading Scheme," Working Papers "Sustainability and Innovation" S2/2008, Fraunhofer Institute for Systems and Innovation Research (ISI).
    9. Klepper, Gernot & Peterson, Sonja, 2004. "The EU emissions trading scheme allowance prices, trade flows and competitiveness effects," Open Access Publications from Kiel Institute for the World Economy 3270, Kiel Institute for the World Economy (IfW).
    10. repec:dau:papers:123456789/10174 is not listed on IDEAS
    11. Kretschmer, Bettina & Narita, Daiju & Peterson, Sonja, 2009. "The economic effects of the EU biofuel target," Open Access Publications from Kiel Institute for the World Economy 32984, Kiel Institute for the World Economy (IfW).
    12. Hagem, Cathrine, 2009. "The clean development mechanism versus international permit trading: The effect on technological change," Resource and Energy Economics, Elsevier, vol. 31(1), pages 1-12, January.
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