Anatomy of emissions trading systems: what is the EU ETS?

Aviel Verbruggen, Erik Laes (Corresponding author), Edwin Woerdman

Onderzoeksoutput: Bijdrage aan tijdschriftTijdschriftartikelAcademicpeer review

Uittreksel

An anatomy identifies four main components of actual or proposed Emissions Trading Systems (ETS): (1)Pursued policy goals with the ETS instrument; (2)Public authority allocations of permits to the regulated participants; (3)Carbon emissions price levels; and (4)Participants’ abatement expenses dependent on the ready availability of affordable abatement techniques or of low-carbon innovation opportunities. These components cover a range of options. A different assemblage of options delivers different ETS exemplars. Two main exemplars are identified. The actual EU ETS is highly successful in meeting the goal of low financial burdens on EU industry, thereby precluding carbon leakage. The other exemplar opts for high carbon emissions prices in the EU to induce industrial innovations towards a low-carbon economy. Incumbent industrial interests oppose this exemplar. Contrary to current policy discourse and to wishful proposals, both ETS exemplars cannot co-exist. ETS anatomy offers insight and structure for thorough analysis and evaluation of existing ETS, resulting in context–specific and appropriate designs of the carbon trading systems.

TaalEngels
Pagina's11-19
Aantal pagina's9
TijdschriftEnvironmental Science and Policy
Volume98
DOI's
StatusGepubliceerd - 1 aug 2019

Vingerafdruk

emissions trading
anatomy
EU
carbon emission
carbon
innovation
price level
public authorities
leakage
economy
industry
discourse
evaluation

Trefwoorden

    Citeer dit

    Verbruggen, Aviel ; Laes, Erik ; Woerdman, Edwin. / Anatomy of emissions trading systems : what is the EU ETS?. In: Environmental Science and Policy. 2019 ; Vol. 98. blz. 11-19
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    Anatomy of emissions trading systems : what is the EU ETS? / Verbruggen, Aviel; Laes, Erik (Corresponding author); Woerdman, Edwin.

    In: Environmental Science and Policy, Vol. 98, 01.08.2019, blz. 11-19.

    Onderzoeksoutput: Bijdrage aan tijdschriftTijdschriftartikelAcademicpeer review

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