State and Trends of Carbon Pricing October 2015

Kossoy, Alexandre; Peszko, Grzegorz; Oppermann, Klaus; Prytz, Nicolai; Klein, Noémie; Blok, Kornelis; Lam, Long; Wong, Lindee; Borkent, Bram

doi:10.1596/978-1-4648-0725-1

Cited by 33 publications

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“…The emission rights were negotiated below €10 as of 2013 [33]. The price is below most estimates of the social cost of carbon [34,35] and is also low in relation to the implicit price used internally by many companies when making their investment decisions [36].…”

Section: The Price Of the Rightsmentioning

confidence: 99%

Institutional Change and Environment: Lessons from the European Emission Trading System

et al. 2018

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After more than ten years of operation of EU-ETS trading, it is time to analyse the results and draw lessons from the experience. Economic research typically considers emission price as the main explanatory variables when measuring the effects of Emission Trading Systems. The novelty of this work is to analyse whether or not trade alone, as an institutional change, is effective in reducing greenhouse gases emissions. The objective of this paper is to analyse to what extent the EU-ETS as a "regulatory" instrument of the supply of allowances is responsible for the effectiveness of the carbon market as a basic tool in the reduction of emissions. The analysis also includes other overlapping policies aimed at fighting climate change, for example, the promotion of renewables. For the empirical analysis, an econometric model is estimated using panel data for the 28 European Union countries between 1990 and 2014. The econometric model include three dummy variables to measure the effectiveness of the three phases of the EU-ETS commerce in reducing emissions. Furthermore, we analyse how effective the phases are when renewables energies are included in the analysis. The results show that the EU-ETS is effective to reduce emissions and each phase has a greater impact on the reduction. Nevertheless, the system should be more flexible to adapt to the fluctuations in the demand for rights.

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Section: The Price Of the Rightsmentioning

confidence: 99%

Institutional Change and Environment: Lessons from the European Emission Trading System

et al. 2018

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Sustainable development carbon pricing initiative and voluntary environmental disclosures quality

2019

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Although corporate environmental disclosures have been researched extensively, empirical evidence regarding the indirect impact of carbon pricing on firms' voluntary disclosures is scarce. The objective of this study is to identify the indirect impact of carbon pricing initiatives on the voluntary environmental disclosures (VEDs) of electricity generating companies, analyzed through the lens of institutional theory. This study

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Levers and leverage points for pathways to sustainability

et al. 2020

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Humanity is on a deeply unsustainable trajectory. We are exceeding planetary boundaries and unlikely to meet many international sustainable development goals and global environmental targets. Until recently, there was no broadly accepted framework of interventions that could ignite the transformations needed to achieve these desired targets and goals. As a component of the IPBES Global Assessment, we conducted an iterative expert deliberation process with an extensive review of scenarios and pathways to sustainability, including the broader literature on indirect drivers, social change and sustainability transformation. We asked, what are the most important elements of pathways to sustainability? Applying a social–ecological systems lens, we identified eight priority points for intervention (leverage points) and five overarching strategic actions and priority interventions (levers), which appear to be key to societal transformation. The eight leverage points are: (1) Visions of a good life, (2) Total consumption and waste, (3) Latent values of responsibility, (4) Inequalities, (5) Justice and inclusion in conservation, (6) Externalities from trade and other telecouplings, (7) Responsible technology, innovation and investment, and (8) Education and knowledge generation and sharing. The five intertwined levers can be applied across the eight leverage points and more broadly. These include: (A) Incentives and capacity building, (B) Coordination across sectors and jurisdictions, (C) Pre‐emptive action, (D) Adaptive decision‐making and (E) Environmental law and implementation. The levers and leverage points are all non‐substitutable, and each enables others, likely leading to synergistic benefits. Transformative change towards sustainable pathways requires more than a simple scaling‐up of sustainability initiatives—it entails addressing these levers and leverage points to change the fabric of legal, political, economic and other social systems. These levers and leverage points build upon those approved within the Global Assessment's Summary for Policymakers, with the aim of enabling leaders in government, business, civil society and academia to spark transformative changes towards a more just and sustainable world. A free Plain Language Summary can be found within the Supporting Information of this article.

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State and Trends of Carbon Pricing October 2015

Cited by 33 publications

References 0 publications

Institutional Change and Environment: Lessons from the European Emission Trading System

Institutional Change and Environment: Lessons from the European Emission Trading System

Sustainable development carbon pricing initiative and voluntary environmental disclosures quality

Levers and leverage points for pathways to sustainability

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