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The long road from Ljubljana to Kyoto: Implementing emissions trading mechanism and CO2 tax

Author

Listed:
  • Tanja Markovic-Hribernik

    (Faculty Of Economics And Busines, Maribor)

  • Aleksandra Murks

    (Talum d.d., Kidricevo)

Abstract

According to the Kyoto Protocol, Slovenia is required to reduce GHG emissions to an average of 8% below base year 1986 emissions in the period 2008-2012. Slovenia established different measures for reducing GHG emissions long before its ratification. It was first transition country who implemented CO2 tax in the 1997. Several changes in CO2 tax have not brought the desired results. CO2 emissions have actually increased. At the beginning of 2005, Slovenia joined other EU member states by implementing the emissions trading instrument, defined by new EU Directive. At the same time, Slovenia has adopted a new CO2 tax system, which is compatible with the new circumstances. The main purpose of this paper is to present the characteristics of Slovenian approach to national allocation plan for emissions trading and analyze the problems of the CO2 tax in Slovenia. Paper also describes the compliance cost of achieving the Kyoto target and expected movements on the Slovenian allowances market.

Suggested Citation

  • Tanja Markovic-Hribernik & Aleksandra Murks, 2006. "The long road from Ljubljana to Kyoto: Implementing emissions trading mechanism and CO2 tax," Financial Theory and Practice, Institute of Public Finance, vol. 30(1), pages 29-65.
  • Handle: RePEc:ipf:finteo:v:30:y:2006:i:1:p:29-65
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    File URL: http://www.ijf.hr/eng/FTP/2006/1/slovenke.pdf
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Jarmila Zimmermannov√° & Karel Korba, 2010. "Comparison of CO2 Taxation in European Union Member States," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2010(3), pages 30-48.

    More about this item

    Keywords

    CO2 tax; Kyoto Protocol; emissions trading; national allocation plan; emissions allowances;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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