Despite slow progress on international post-2012 climate policy architecture, the EU will expand its emissions trading scheme
(the EU ETS) beyond 2020. Three major modifications are planned: 1. auctioning as the initial allocation mechanism (with some
exemptions for energy intensive, trade exposed sectors), 2. broader sectoral coverage, and 3. increased stringency of reduction
targets. Due to this unilateral approach, emission reductions achieved in the EU might be partially offset by emission increases
in non-regulated countries, a phenomenon known as carbon leakage. To contest this claim, we employ a multi-regional Computable
General Equilibrium model for Austria and its main trading partners to analyse the consequences for output, international
trade and carbon emissions of different unilateral EU climate policy options as well as climate policy architectures which
extend towards other Annex I countries. For Austria, we find that any of the unilateral policies affects exports and imports
more strongly than domestic production, moreover imports decline more than exports, particularly in energy intensive sectors.
Project co-ordinator: Daniela Kletzan-Slamanig (WIFO) • The project ETCLIP is funded by the Austrian "Klima- und Energiefonds"
and is carried out within the research programme "NEUE ENERGIEN 2020".
Auftraggeber: Österreichische Forschungsförderungsgesellschaft mbH
Studie von: Österreichisches Institut für Wirtschaftsforschung
Mit finanzieller Unterstützung von: Klima- und Energiefonds