The European Emission Trading Scheme: Implications For Long-Term Investment Valuation
As the EU Emission Trading Scheme (EU ETS) moves towards its third phase (2013–2020) it has undergone numerous improvements, including a gradual increase in the use of auctions as a distribution mechanism and the prevalence of sectoral criteria over National Allocation Plans. At the same time, emission allowances with maturities up to December 2020 have begun to be traded on the futures markets, reflecting the impact that the new measures are expected to have on prices. This paper sets out to obtain a financial valuation of the impact and analyze whether the resulting prices will facilitate investment in installations to bring about reductions in emissions. The effect on investments of the potential introduction of caps and floors on emission trading prices is also studied.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 02 (2011)
Issue (Month): 02 ()
|Contact details of provider:|| Web page: http://www.worldscinet.com/cce/cce.shtml|
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:wsi:ccexxx:v:02:y:2011:i:02:p:129-148. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tai Tone Lim)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.