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EU Climate Change Policy 2013-2020: Thoughts on Property Rights and Market Choices

Author

Listed:
  • Gorecki, Paul

    (ESRI)

  • Lyons, Sean

    (ESRI)

  • Tol, Richard S. J.

    (ESRI)

Abstract

Under 2013 to 2020 European Union proposals for CO2 emission reduction, a Member State can transfer to another Member State ?part? of their allowed emission allocation in the non-Emission Trading Sector ("ETS"). The paper addresses three questions in relation to these Transfer Emission Units or TEUs. First, what mechanism should be used to facilitate the exchange of TEUs? The preferred mechanism is a uniform price auction, preferably EU-wide. Second, what ?part? of the non-ETS emission limit of a Member State should be classed as TEUs ? 10%, 20% or no limit? The proportion of the non-ETS emission limit that should be traded should be maximised. Third, who should realise the value of TEUs ? the State, existing polluters? The value of TEUs should accrue to the State.

Suggested Citation

  • Gorecki, Paul & Lyons, Sean & Tol, Richard S. J., 2009. "EU Climate Change Policy 2013-2020: Thoughts on Property Rights and Market Choices," Papers WP292, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esr:wpaper:wp292
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    References listed on IDEAS

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    1. Frances Ruane & Xiaoheng Zhang, 2007. "Location Choices of the Pharmaceutical Industry in Europe after 1992," The Institute for International Integration Studies Discussion Paper Series iiisdp220, IIIS.
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    Cited by:

    1. Gorecki, Paul K. & Lyons, Sean & Tol, Richard S.J., 2011. "Public policy towards the sale of state assets in troubled times: Lessons from the Irish experience," Utilities Policy, Elsevier, vol. 19(3), pages 193-201.
    2. Siedschlag, Iulia, 2009. "Measuring International Technology Spillovers and Progress Towards the European Research Area," Papers WP330, Economic and Social Research Institute (ESRI).
    3. Tol, Richard S. J., 2010. "The Research Output of Business Schools and Business Scholars in Ireland," Papers WP364, Economic and Social Research Institute (ESRI).
    4. Gorecki, Paul K. & Tol, Richard S. J., 2011. "The Climate Change Response Bill 2010: An Assessment," Papers WP371, Economic and Social Research Institute (ESRI).
    5. Conor Devitt & Richard Tol, 2012. "Oligopoly and Oligopsony Power in the Swedish Market," Working Paper Series 3212, Department of Economics, University of Sussex Business School.

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