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The European emission trading scheme and renewable energy policies: credible targets for incredible results?

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  • Simone Borghesi

Abstract

This paper discusses the merits and limits of the recent European energy policy aimed at reducing carbon emissions, devoting particular attention to the European trading system of carbon permits and to the measures that the European Union has adopted to promote renewable energy sources. From the comparison of past goals and present results, it is argued that more credible targets for carbon emission reductions and renewable shares would probably help the transition towards an alternative energy system and the necessary reduction of greenhouse gases.

Suggested Citation

  • Simone Borghesi, 2011. "The European emission trading scheme and renewable energy policies: credible targets for incredible results?," International Journal of Sustainable Economy, Inderscience Enterprises Ltd, vol. 3(3), pages 312-327.
  • Handle: RePEc:ids:ijsuse:v:3:y:2011:i:3:p:312-327
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    References listed on IDEAS

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    1. Konstantinos I. Evangelinos & George E. Halkos, 2002. "Implementation Of Environmental Management Systems Standards: Important Factors In Corporate Decision Making," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 4(03), pages 311-328.
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    Cited by:

    1. D’Amato, Alessio & Valentini, Edilio & Zoli, Mariangela, 2017. "Tradable quota taxation and market power," Energy Economics, Elsevier, pages 248-252.
    2. Costantini, Valeria & D'Amato, Alessio & Martini, Chiara & Tommasino, Maria Cristina & Valentini, Edilio & Zoli, Mariangela, 2013. "Taxing international emissions trading," Energy Economics, Elsevier, pages 609-621.
    3. Giulio Cainelli & Massimiliano Mazzanti & Roberto Zoboli, 2013. "Environmental performance, manufacturing sectors and firm growth: structural factors and dynamic relationships," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 15(4), pages 367-387, October.
    4. Antimiani, Alessandro & Costantini, Valeria & Martini, Chiara & Salvatici, Luca & Tommasino, Maria Cristina, 2013. "Assessing alternative solutions to carbon leakage," Energy Economics, Elsevier, pages 299-311.
    5. repec:eee:ecanpo:v:54:y:2017:i:c:p:123-134 is not listed on IDEAS
    6. Modica, Marco, 2017. "Does the construction of biogas plants affect local property values?," Economics Letters, Elsevier, pages 169-172.
    7. Massimiliano Mazzanti, 2014. "Market and policy shocks in economic systems: interrelated dynamics in the sustainability transition," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2014(2), pages 153-164.
    8. Massimiliano Mazzanti & Antonio Musolesi, 2011. "Income and time related effects in EKC," Working Papers 201105, University of Ferrara, Department of Economics.
    9. Francesco Crespi, 2016. "Policy complexity and the green transformation of the economies as an emergent system property," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 18(2), pages 143-157, April.
    10. Simone Borghesi & Giulio Cainelli & Massimiliano Mazzanti, 2014. "Linking emission trading to environmental innovation: evidence from the Italian manufacturing industry," SEEDS Working Papers 2714, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised Oct 2014.
    11. Cainelli, Giulio & Mazzanti, Massimiliano, 2013. "Environmental innovations in services: Manufacturing–services integration and policy transmissions," Research Policy, Elsevier, pages 1595-1604.
    12. Alessandro Antimiani & Valeria Costantini & Elena Paglialunga, 2015. "An analysis of the sensitivity of a dynamic climate-economy CGE model (GDynE) to empirically estimated energy-related elasticity parameters," SEEDS Working Papers 0515, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised Mar 2015.
    13. Angelo Antoci & Simone Borghesi & Mauro Sodini, 2012. "ETS and Technological Innovation: A Random Matching Model," Working Papers 2012.79, Fondazione Eni Enrico Mattei.
    14. Giulio Cainelli & Massimiliano Mazzanti & Simone Borghesi, 2012. "The European Emission Trading Scheme and environmental innovation diffusion: Empirical analyses using Italian CIS data," Working Papers 201201, University of Ferrara, Department of Economics.
    15. Borghesi, Simone & Cainelli, Giulio & Mazzanti, Massimiliano, 2015. "Linking emission trading to environmental innovation: Evidence from the Italian manufacturing industry," Research Policy, Elsevier, pages 669-683.
    16. Marianna Gilli & Giovanni Marin & Massimiliano Mazzanti & Francesco Nicolli, 2017. "Sustainable development and industrial development: manufacturing environmental performance, technology and consumption/production perspectives," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 6(2), pages 183-203, April.
    17. Davide Antonioli & Grazia Cecere, 2014. "ICT and environmental innovations in a complementary fashion. Is the joint adoption by firms economically visible?," SEEDS Working Papers 1514, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised Jun 2014.
    18. Carlo Bollino & Silvia Micheli, 2012. "On the Relative Optimality of Environmental Policy Instruments: An Application of the Work of Alberto Alesina," Atlantic Economic Journal, Springer;International Atlantic Economic Society, pages 385-399.
    19. Simone Borghesi & Giulio Cainelli & Massimiliano Mazzanti, 2012. "Brown Sunsets and Green Dawns in the Industrial Sector: Environmental Innovations, Firm Behavior and the European Emission Trading," Working Papers 2012.03, Fondazione Eni Enrico Mattei.
    20. Simone Borghesi & Valeria Costantini & Francesco Crespi & Massimiliano Mazzanti, 2013. "Environmental innovation and socio-economic dynamics in institutional and policy contexts," Journal of Evolutionary Economics, Springer, pages 241-245.

    More about this item

    Keywords

    pollution; climate change; fossil fuels; energy policies; EU; European Union; emissions trading system; ETS; cap-and-trade; renewable energy; energy sources; credibility; carbon emissions; carbon permits; emission reductions; renewable shares; alternative energy; greenhouse gases; sustainability; sustainable development; sustainable economy.;

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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