Globalization, climate change and carbon markets

Florina Bran (), Ildiko Ioan and Mariana Iovitu
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Florina Bran: Faculty of Agro-Food and Environmental Economics, The Bucharest University of Economic Studies, Romania
Ildiko Ioan: Faculty of Agro-Food and Environmental Economics, The Bucharest University of Economic Studies, Romania
Mariana Iovitu: Faculty of Agro-Food and Environmental Economics, The Bucharest University of Economic Studies, Romania

International Conference on Competitiveness of Agro-food and Environmental Economy Proceedings, 2014, vol. 3, 132-142

Abstract: Climate change is pictured like the most threatening environmental outcome of the recent industry driven economic and social development. Fighting against climate change has a great legitimacy and the public at large seldom question the necessity of governmental intervention in this respect. The global financial crisis and the globalized markets are external factors that tailored some unexpected results of climate policy implementation in the European Union. Thus, along with expected progress in emission abatement, some companies improved their economic and financial indicators on the carbon market. The paper reveals the mechanism of this process, outlines some quantitative milestones and concludes that the public at large might loss some of the commitment to climate change mitigation by finding itself in the role of main financial supporter of the climate policy.

Keywords: climate policy; carbon market; allowances; carbon leakage; windfall profits (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:aes:icafee:v:3:y:2014:p:132-142

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