Ex-ante evaluation of EU ETS during 2013–2030: EU-internal abatement

Jing, Hu; Crijns-Graus, Wina; Lam, Long; Gilbert, Alyssa

doi:10.1016/j.enpol.2014.11.023

Cited by 40 publications

(23 citation statements)

References 10 publications

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“…Similarly, climate policy could set strong incentives for exploring alternatives to emission-intensive fossil fuels. So far, however, policy measures which increase the costs of fossil fuels are limited to the energy sector (prominently the EU ETS and different energy-related taxes), and lack effectiveness in initiating structural changes [46,47]. The limited internalisation of environmental costs distorts competition between renewable resources and fossil fuels, as does the existence of technological and institutional path dependencies which favour a fossil-based "throughput economy" [48,49].…”

Section: Status Quo: Current State and Further Perspectives Of The Womentioning

confidence: 99%

Possible Futures towards a Wood-Based Bioeconomy: A Scenario Analysis for Germany

et al. 2016

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Driven by the growing awareness of the finite nature of fossil raw materials and the need for sustainable pathways of industrial production, the bio-based economy is expected to expand worldwide. Policy strategies such as the European Union Bioeconomy Strategy and national bioeconomy strategies foster this process. Besides the advantages promised by a transition towards a sustainable bioeconomy, these processes have to cope with significant uncertainties as many influencing factors play a role, such as climate change, technological and economic development, sustainability risks, dynamic consumption patterns and policy and governance issues. Based on a literature review and an expert survey, we identify influence factors for the future development of a wood-based bioeconomy in Germany. Four scenarios are generated based on different assumptions about the development of relevant influence factors. We discuss what developments in politics, industry and society have a central impact on shaping alternative futures. As such, the paper provides a knowledge base and orientation for decision makers and practitioners, and contributes to the scientific discussion on how the bioeconomy could develop. We conclude that the wood-based bioeconomy has a certain potential to develop further, if adequate political framework conditions are implemented and meet voter support, if consumers exhibit an enhanced willingness to pay for bio-based products, and if among companies, a chance-oriented advocacy coalition of bioeconomy supporters dominates over proponents of fossil pathways.

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Section: Status Quo: Current State and Further Perspectives Of The Womentioning

confidence: 99%

Possible Futures towards a Wood-Based Bioeconomy: A Scenario Analysis for Germany

et al. 2016

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“…It has been traded on exchanges and Over-The-Counter (OTC) market since the announcement of Kyoto Protocol. The European Union Emission Trading Scheme (EU ETS) was the first one in the world that was established in 2005 and it is now still the world's largest emission trading scheme, which covers sectors that account for approximately 45% of Europe's total GHG emissions, and it is the most representative emission trading scheme in the world (Hu, Crijns-Graus, Long, & Gilbert, 2015). As of 2017, there are 21 operating emissions trading schemes in the world, and economies with an ETS in place produce more than 50% of global GDP and are home to almost a third of the global population.…”

Section: Introductionmentioning

confidence: 99%

Volatility Spillover and Dynamic Correlation Between the Carbon Market and Energy Markets

Chen

et al. 2019

Journal of Business Economics and Management

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This paper studies the volatility spillover and dynamic correlation between EU emission allowance (EUA) prices and energy prices by considering three energy commodities, including oil, gas, and coal. The asymmetric BEKK model is employed for multi-phase analysis of EU ETS, yet only a little empirical evidence backing up the existence of volatility spillover between EU ETS and energy markets, i.e., the establishments of the EU ETS may not effectively limitation and influence energy markets. The time-varying conditional correlation between EUA and each of energy prices is analyzed. The dynamic correlation shows there is a relatively stable, positive correlation between the EUA and Brent oil, natural gas. However, modeling the dynamics correlation also suggests that the correlation between the EUA and the natural gas, coal became weaker and more volatile since second and third phases, especially after the Global Financial Crisis in 2008, which may indicate that the demand reduction in emission allowances caused by the economic slowdown far exceeds the reduction in the annual restraint of EU ETS.

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“…Such low prices -with little hope for a significant rise in the coming years (Hu et al, 2015) -give insufficient incentives for investment into mitigation technologies such as CCTS. Even additional financial schemes such as the European Energy Program for Recovery (EEPR) proved unsuccessful in enabling projects (GCCSI, 2014).…”

Section: Introductionmentioning

confidence: 99%

European Scenarios of CO2 Infrastructure Investment until 2050

Oei¹,

Mendelevitch²

2016

The Energy Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Scenarios assuming low CO 2 certificate prices lead to hardly any CCTS development in Europe. The iron and steel sector starts deployment as soon as the CO 2 certificate price exceeds 50 €/tCO 2 . The cement sector starts investing at a threshold of 75 €/tCO 2 , followed by the electricity sector when prices exceed 100 €/tCO 2 . Results on the degree of deployment of CCTS are found to be more sensitive to variable cost of CO 2 capture than to investment costs. Additional revenues from using the CO 2 for enhanced oil recovery (CO 2 -EOR) in the North Sea would lead to an earlier adoption of CCTS, independent of the CO 2 certificate price; this case may become especially relevant for the UK, Norway and the Netherlands. On the downside, scattered CCTS deployment increases unit cost of transport and storage infrastructure by 30% and more. Terms of use: Documents in

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Ex-ante evaluation of EU ETS during 2013–2030: EU-internal abatement

Cited by 40 publications

References 10 publications

Possible Futures towards a Wood-Based Bioeconomy: A Scenario Analysis for Germany

Possible Futures towards a Wood-Based Bioeconomy: A Scenario Analysis for Germany

Volatility Spillover and Dynamic Correlation Between the Carbon Market and Energy Markets

European Scenarios of CO2 Infrastructure Investment until 2050

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