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Linking von Emissionshandelssystemen: Die EU als Vorreiter für einen globalen CO2-Markt?

Author

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  • Eva-Maria Mauer

    (Europa-Universität Viadrina)

Abstract

Abstract

This paper examines whether the EU can act as a forerunner in building an international carbon market trough linking with other emission trading systems. Therefore, the principles of emission trading and the advantages of linking are described and analyzed. The main advantages of linking are that emission reduction can be achieved at lower cost and that the risk of carbon leakage is reduced. This in turn might allow countries to set more stringent climate targets. From that perspective, the preconditions for linking emissions trading systems are analyzed in order to identify those design features that should be aligned prior to linking. Among these are the stringency and the type of the target as well as the use of credits from international offset programs. Taking these preconditions into account, the compatibility of the EU’s system with different emission trading systems is considered. Because of diverging design features, the current linking options of the EU are rather limited. Nevertheless, since many emission trading systems around the world are just in the making, the EU should engage with these countries from an early stage on in order to accompany the design process of these emission trading systems such that linking agreements become possible in the future. Lastly, linking as part of the international climate architecture is analyzed. Therefore, the latest climate treaty that was agreed on in Paris in December 2015 is examined. Indeed, the Paris Agreement encourages bilateral or plurilateral cooperation between states in order to fulfill their reduction requirements. This includes the trading of emission reduction units across borders. At the same time, the Paris Agreement provides for guidelines that are established in the framework of the UN in order to ensure the environmental integrity of such cross-border transfers.

Zusammenfassung

In dieser Arbeit wird untersucht, inwiefern die EU bei der Bildung eines globalen CO2- Marktes durch die Verknüpfung mit anderen Emissionshandelssystemen (Linking) als Vorreiter agieren kann. Hierfür werden die Prinzipien des Emissionshandels und die Vorteile von Linking beschrieben und analysiert. Die Verknüpfung von Emissionshandelssystemen wird als Möglichkeit gesehen, striktere Klimaziele zu erreichen, weil hierdurch einerseits Emissionsreduktionen zu geringeren Kosten realisiert werden können und andererseits das Risiko für CO2-Leakage reduziert wird. Weiterhin werden die Bedingungen analysiert, die erfüllt sein müssen, damit Emissionshandelssysteme miteinander verknüpft werden können. Dabei werden die Designmerkmale herausgearbeitet, die angeglichen werden sollten, bevor es zu Linking kommt. Zu diesen Merkmalen gehören sowohl die Höhe und die Art des Reduktionsziels als auch die Nutzung von Zertifikaten aus internationalen Ausgleichsprogrammen. Bezüglich dieser Voraussetzungen wird die Kompatibilität des EU- Systems mit anderen Emissionshandelssystemen untersucht. Aufgrund großer Unterschiede im System-Design sind die derzeitigen Linking-Optionen der EU jedoch stark begrenzt. Da viele Emissionshandelssysteme in anderen Teilen der Welt noch in der Entwicklungsphase sind, sollte die EU dennoch möglichst früh mit diesen kooperieren, um so den Designprozess dieser Systeme zu begleiten und langfristig Linking-Abkommen zu ermöglichen. Des Weiteren wird die Rolle von Linking als Teil der internationalen Klimaschutzbemühungen analysiert. Dabei ist insbesondere das Klimaabkommen, das im Dezember 2015 in Paris abgeschlossen wurde, von Interesse. In der Tat fördert das Abkommen bilaterale und plurilaterale Kooperationen zwischen Staaten, die auf diese Weise ihre Reduktionsverpflichtungen erfüllen können. Dies beinhaltet auch den grenzübergreifenden Handel von Emissionsreduktionseinheiten. Gleichzeitig stellt das Paris-Abkommen Richtlinien bereit, die die Umweltintegrität solcher internationalen Transfers sicherstellen sollen.

Suggested Citation

  • Eva-Maria Mauer, 2016. "Linking von Emissionshandelssystemen: Die EU als Vorreiter für einen globalen CO2-Markt?," Discussion Paper Series RECAP15 25, RECAP15, European University Viadrina, Frankfurt (Oder).
  • Handle: RePEc:euv:dpaper:25
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    environmental economics; emissions trading; linking; international climate policy; Umweltökonomie; Emissionshandel; Linking; Internationale Klimapolitik;
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