Claudia Kettner, Daniela Kletzan-Slamanig, Angela Köppl, The EU Emission Trading Scheme. Allocation Patterns and Trading Flows

WIFO Working Papers, 2011, (402), 34 Seiten
The EU Emission Trading Scheme (EU ETS) that covers emitters from industry and the energy sector representing 40 percent of the EU's total greenhouse gas emissions is the biggest implementation worldwide of a cap-and-trade scheme. The EU ETS has been the core instrument of European climate policy since its start in 2005. Based on a database comprising more than 10,000 installations in 26 EU countries, this paper provides a thorough analysis of the performance of the EU ETS in the period 2005 to 2010. In the first part, we analyse allocation patterns – i.e., the stringency of allocation caps and distribution issues – on EU country and sector level comparing the results of the EU ETS pilot phase and the first three years of the Kyoto phase. In the second part of the paper, we assess trading flows of European Allowance Units (EUAs) between EU countries comparing the results for the first and second trading period. Furthermore, we analyse the use of credits from flexible mechanisms – Certified Emission Reductions (CERs) from CDM projects and Emission Reduction Units (ERUs) from JI projects – that installations may surrender since the beginning of the second trading period on country level.
 
Forschungsbereich:Umwelt, Landwirtschaft und Energie
Sprache:Englisch

Verwandte Einträge

Claudia Kettner, Der EU-Emissionshandel – Allokationsmuster und Handelsflüsse

WIFO-Monatsberichte, 2012(9), S.737-750
Seit 2005 ist das EU-Emissionshandelssystem das zentrale Instrument der Klimapolitik der EU. Es umfasst Anlagen aus der Industrie und dem Energiesektor, auf die rund 40% der gesamten Treibhausgasemissionen der EU-Länder entfallen, und ist derzeit das weltweit größte Cap-and-Trade-System für Treibhausgase. Die umfassende Analyse des EU-Emissionshandels im Zeitraum 2005/2011 basiert auf einer Datenbank mit mehr als 10.000 Anlagen in 25 EU-Ländern. Mit dem Emissionshandelssystem wurde demnach bislang nur im Jahr 2008 eine verbindliche Emissionsobergrenze errichtet. In den anderen Handelsjahren bestanden zum Teil beträchtliche Zertifikatsüberschüsse, die in der Pilotphase (2005/2007) auf ein wenig ambitioniertes Emissionscap und in der Kyoto-Phase (2008/2012) auf den Emissionsrückgang im Zuge der Wirtschaftskrise und der darauf folgenden schwachen Wirtschaftsentwicklung zurückzuführen waren. Nur ein kleiner Teil der EU-weit abgegebenen Zertifikate wurde in der ersten Handelsperiode grenzüberschreitend gehandelt. Die Bedeutung der Zertifikate aus den flexiblen Mechanismen des Kyoto-Protokolls (Certified Emission Reductions, Emission Reduction Units) ist ebenfalls noch immer sehr gering.
 

Claudia Kettner, Daniela Kletzan-Slamanig, Angela Köppl (WIFO), The EU Emission Trading Scheme. National Allocation Patterns and Trading Flows

Monographien, Juni 2012, 40 Seiten
The EU Emission Trading Scheme (EU ETS) covers emitters from industry and the energy sector and 40 percent of the EU's total greenhouse gas emissions. It is the biggest implementation of a cap-and-trade scheme worldwide and the core instrument of European climate policy since its start in 2005. Based on a database comprising more than 10,000 installations in 26 EU countries, this paper provides a thorough analysis of the performance of the EU ETS in the period 2005-2010. In the first part, we analyse allocation patterns – i.e., the stringency of allocation caps and distribution issues – on EU and country level comparing the results of the EU ETS pilot phase and the first three years of the Kyoto phase. In the second part of the paper, we assess trading flows of European Allowance Units (EUAs) between EU countries comparing the results for the first and second trading period and analyse the use of project-based credits in the second trading period. Our analysis shows a higher overall stringency of the 2008 allocation caps compared to the first trading period reflecting the stronger role of the European Commission. For the following years we find, however, a surplus of allowances reflecting the decline in emissions due to the economic crisis. Traded certificates account for only a small share in EU-wide surrendered allowances, but increased in the second trading phase. Our analysis reveals that some countries have been net importers of EUAs despite national surpluses of allowances. This may either be due to differences in allocation patterns within EU countries, EUA transfers between associate companies or due to excess imports because of wrong (emission) growth expectations.
The project "ICPIA – Coping with Complexity in the Evolving International Climate Policy Institutional Architecture" was funded by the Austrian "Klima- und Energiefonds" and carried out within the research programme "ACRP".
 
Auftraggeber: Klima- und Energiefonds
Studie von: Österreichisches Institut für Wirtschaftsforschung – Climate Strategies

Claudia Kettner, Daniela Kletzan-Slamanig, Angela Köppl, The EU Emission Trading Scheme. Sectoral Allocation Patterns and Factors Determining Emission Changes

WIFO Working Papers, 2013, (444), 23 Seiten
The EU Emission Trading Scheme (EU ETS) that covers emitters from industry and energy supply representing 40 percent of the EU's greenhouse gas emissions is the biggest implementation of a cap-and-trade scheme worldwide. In this paper, we analyse sectoral allocation caps focusing on three emission intensive sectors ("power and heat", "cement and lime", "pulp and paper"), assess the development of emissions and discuss the main drivers for emissions in these sectors since the start of the EU ETS. Our analysis of allocation patterns shows that "power and heat" is the only sector permanently facing a stringent cap. The disaggregated analysis of the development of CO2 emissions also reveals pronounced sectoral disparities, which points at differences in the availability of emission abatement options. The data for cement and lime production show changes in CO2 intensity pointing at an increased import of clinker. For paper and pulp production and for power and heat generation improvements in emission intensities and to a lesser extent energy intensities can be observed, reflecting the role of fuel shifts in short-term emission reductions.
 
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