El mercado de emisiones de la Unión Europea: ¿mitigación o generosidad?

Noemi Padrón Fumero ()

EKONOMIAZ. Revista vasca de Economía, 2008, vol. 67, issue 01, 92-117

Abstract: This article analyzes the functioning of the EU ETS based on the detailed information of the EU emissions registry for the three year period of Phase I (2005-2007). The analysis reveals that the level of verified CO2 emissions has been bellow the amount of assigned units for 152 million tonnes and a decreasing CO2 price path. Even though some authors have appointed the possibility that an excess supply may be the result of a global over-allocation of EUA, this article explores the hypothesis of irreversible investment in a context of banking restrictions what may explain overall results.

Keywords: European Union emissions trading scheme; climate change policy; dynamic efficiency (search for similar items in EconPapers)
JEL-codes: C81 H41 O13 Q54 Q58 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ekz:ekonoz:2008106

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