Comparative analysis of the existing and proposed ETS
Emissions trading schemes (ETS) have been operational to control greenhouse gas emissions in European Union since 2005. Under the EU ETS, the governments of the Member States agree on national emission caps, allocate allowances to industrial operators, track and validate the actual emissions and retire allowances at the end of each year. ETS have been proposed to be introduced in New Zealand, Australia, Japan, US, Canada, Korea, India and two Chinese provinces in the near future. The main idea of the ETS is to create the market for pollution which will provide economic agents with incentives to reduce their emissions ( Stavins, et al., 2003). The design of ETS plays an important role in reducing greenhouse gas emissions and promoting environmental and economic sustainability. There are several designs of ETS including cap-and-trade, baseline-and-credit and hybrid, however, cap-and-trade scheme is the most popular among the proposed ETS. The purpose of this paper is to perform a comprehensive review of the existing and the proposed ETS focusing on design issues. Findings of this research will be useful for countries with existing and proposed ETS and for countries intending to adopt ETS in the future.
|Date of creation:||Jun 2011|
|Contact details of provider:|| Postal: Department of Economics, Monash University, Victoria 3800, Australia|
Web page: http://business.monash.edu/economics
More information through EDIRC
|Order Information:|| Web: http://www.buseco.monash.edu.au/eco/research/papers/ Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- ZhongXiang Zhang, 2000.
"The design and implementation of an international trading scheme for greenhouse gas emissions,"
Environment and Planning C: Government and Policy,
Pion Ltd, London, vol. 18(3), pages 321-337, June.
- ZhongXiang Zhang, 2000. "The Design and Implementation of an International Trading Scheme for Greenhouse Gas Emissions," Environment and Planning C, , vol. 18(3), pages 321-337, June.
- Zhang, Yue-Jun & Wei, Yi-Ming, 2010. "An overview of current research on EU ETS: Evidence from its operating mechanism and economic effect," Applied Energy, Elsevier, vol. 87(6), pages 1804-1814, June.
- Yue-Jun Zhang & Yi-Ming Wei, 2009. "An overview of current research on EU ETS: Evidence from its operating mechanism and economic effect," CEEP-BIT Working Papers 3, Center for Energy and Environmental Policy Research (CEEP), Beijing Institute of Technology.
- Pizer, William A., 2002. "Combining price and quantity controls to mitigate global climate change," Journal of Public Economics, Elsevier, vol. 85(3), pages 409-434, September.
- Bing Zhang & Yongliang Zhang, 2016. "Policy Conflicts and the Performance of Emissions Trading Markets: An Adaptive Agent-based Analysis," EEPSEA Research Report rr20160339, Economy and Environment Program for Southeast Asia (EEPSEA), revised Mar 2016.
- Romain Duval, 2008. "A Taxonomy of Instruments to Reduce Greenhouse Gas Emissions and their Interactions," OECD Economics Department Working Papers 636, OECD Publishing.
- Warwick J. McKibbin & Peter J. Wilcoxen, 2002. "The Role of Economics in Climate Change Policy," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 107-129, Spring.
- Butzengeiger, Sonja & Betz, Regina & Bode, Sven, 2001. "Making GHG emissions trading work - crucial issues in designing national and international emmissions trading systems," HWWA Discussion Papers 154, Hamburg Institute of International Economics (HWWA).
- Macintosh, Andrew, 2010. "Keeping warming within the 2Â Â°C limit after Copenhagen," Energy Policy, Elsevier, vol. 38(6), pages 2964-2975, June.
- Spash, Clive L., 2009. "The Brave New World of Carbon Trading," MPRA Paper 19114, University Library of Munich, Germany.
- Peter Cramton & Suzi Kerr, 1999. "The Distributional Effects of Carbon Regulation: Why Auctioned Carbon Permits are Attractive and Feasible," Papers of Peter Cramton 99eedecr, University of Maryland, Department of Economics - Peter Cramton, revised Feb 1998.
- Dagoumas, A.S. & Papagiannis, G.K. & Dokopoulos, P.S., 2006. "An economic assessment of the Kyoto Protocol application," Energy Policy, Elsevier, vol. 34(1), pages 26-39, January.
- Huang, Wei Ming & Lee, Grace W.M. & Wu, Chih Cheng, 2008. "GHG emissions, GDP growth and the Kyoto Protocol: A revisit of Environmental Kuznets Curve hypothesis," Energy Policy, Elsevier, vol. 36(1), pages 239-247, January.
- Chang, Yen-Chiang & Wang, Nannan, 2010. "Environmental regulations and emissions trading in China," Energy Policy, Elsevier, vol. 38(7), pages 3356-3364, July.
- Randall S. Jones & Byungseo Yoo, 2009. "Improving the Policy Framework in Japan to Address Climate Change," OECD Economics Department Working Papers 740, OECD Publishing. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:mos:moswps:2011-15. 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: (Simon Angus)
If references are entirely missing, you can add them using this form.