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European Climate Policy: Critical Aspects

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  • Simone Borghesi

Abstract

This study examines the European energy policy of the last few years, highlighting certain shortcomings in the European emission trading scheme (Ets) and the rate of transition towards renewable resources. As emerges from the analysis, despite the past difficulties experienced in achieving its targets in terms of emissions reduction and proportion of renewable resources, the European Union has set even more ambitious goals for the future. However, this policy of raising and postponing the target, together with some drawbacks in the Ets, may generate time consistency problems that can hamper Europe’s capacity to achieve its energy targets.

Suggested Citation

  • Simone Borghesi, 2011. "European Climate Policy: Critical Aspects," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 2, June.
  • Handle: RePEc:rar:journl:0214
    as

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    File URL: http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?idArticolo=42605&lingua=en
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    References listed on IDEAS

    as
    1. Markussen, Peter & Svendsen, Gert Tinggaard, 2005. "Industry lobbying and the political economy of GHG trade in the European Union," Energy Policy, Elsevier, vol. 33(2), pages 245-255, January.
    2. Cramton, Peter & Kerr, Suzi, 2002. "Tradeable carbon permit auctions: How and why to auction not grandfather," Energy Policy, Elsevier, vol. 30(4), pages 333-345, March.
    3. Alessio D’Amato & Edilio Valentini, 2011. "Enforcement and environmental quality in a decentralized emission trading system," Journal of Regulatory Economics, Springer, vol. 40(2), pages 141-159, October.
    4. Kruger, Joseph & Oates, Wallace E. & Pizer, William A., 2007. "Decentralization in the EU Emissions Trading Scheme and Lessons for Global Policy," Discussion Papers dp-07-02, Resources For the Future.
    5. Simone Borghesi, 2008. "From Hubbert to Kuznets: on the sustainability of the current energy system," International Journal of Global Environmental Issues, Inderscience Enterprises Ltd, vol. 8(4), pages 425-444.
    6. Hagem, Cathrine & Westskog, Hege, 1998. "The Design of a Dynamic Tradeable Quota System under Market Imperfections," Journal of Environmental Economics and Management, Elsevier, vol. 36(1), pages 89-107, July.
    7. Don Bredin & Cal Muckley, 2010. "An Analysis of the EU Emission Trading Scheme," Working Papers 201003, Geary Institute, University College Dublin.
    8. Parry, Ian W. H. & Williams, Roberton III & Goulder, Lawrence H., 1999. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," Journal of Environmental Economics and Management, Elsevier, vol. 37(1), pages 52-84, January.
    9. Claudia Kettner & Angela Köppl & Stefan Schleicher, 2010. "The EU Emission Trading Scheme. Insights from the First Trading Years with a Focus on Price Volatility," WIFO Working Papers 368, WIFO.
    10. Robert W. Hahn, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, Oxford University Press, vol. 99(4), pages 753-765.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Climate change; Energy policy; European union; Emission trading system (Ets); Renewable energy sources; Time consistency;

    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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