Assessing the effectiveness of the EU Emissions Trading System
As an increasing number of countries, regions, cities and states implement emission trading policies to limit cap CO2 emission, many turn to the experience of the European Unionï¿½s Emissions Trading System, as the largest greenhouse gas emissions trading system currently operating. The aim of this paper is to survey the literature conducted over the past eight years of the schemeï¿½s existence, particularly those focusing on three key challenging areas of evaluation: emissions impacts in relation to the balance with economic objectives; investment and innovation impacts; and finally profits and price impacts. Among the key conclusions is that the lack of flexibility in the structure of the EU ETS cap, and its inability to adjust to radically shifted wider economic conditions, in the shape of the financial crisis, threatens to undermine its efficacy in providing incentives for abatement.
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- Zachmann, Georg & von Hirschhausen, Christian, 2008.
"First evidence of asymmetric cost pass-through of EU emissions allowances: Examining wholesale electricity prices in Germany,"
Elsevier, vol. 99(3), pages 465-469, June.
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- Georg Zachmann & Christian von Hirschhausen, 2007. "First Evidence of Asymmetric Cost Pass-Through of EU Emissions Allowances: Examining Wholesale Electricity Prices in Germany," Working Papers 0710, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- repec:jns:jbstat:v:227:y:2007:i:3:p:295-329 is not listed on IDEAS
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"An overview of CO2 cost pass-through to electricity prices in Europe,"
Elsevier, vol. 61(C), pages 1370-1376.
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- Weber, T.A. & Neuhoff, K., 2009.
"Carbon Markets and Technological Innovation,"
Cambridge Working Papers in Economics
0932, Faculty of Economics, University of Cambridge.
- Barry Anderson & Corrado Di Maria, 2011.
"Abatement and Allocation in the Pilot Phase of the EU ETS,"
Environmental & Resource Economics,
Springer;European Association of Environmental and Resource Economists, vol. 48(1), pages 83-103, January.
- Corrado Di Maria & Barry Anderson & Frank Convery, 2009. "Abatement and Allocation in the Pilot Phase of the EU ETS," Working Papers 2009.110, Fondazione Eni Enrico Mattei.
- repec:reg:briefs:594 is not listed on IDEAS
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