The effectiveness of the EU Emissions Trading Scheme
Stefano Clo ()
Climate Policy, 2009, vol. 9, issue 3, 227-241
How effective is the EU Emissions Trading Scheme (EU ETS) in promoting emissions reduction for compliance with the Kyoto Protocol commitment? A theoretical benchmark is determined in order to assess the stringency of the ETS cap and to evaluate whether emissions allowances have been over-allocated. This analysis clarifies how the emissions reduction effort has been divided between ETS and non-ETS sectors, highlighting the extent to which Member States effectively rely on the ETS to comply with their Kyoto commitments. Finally, inefficiencies relating to the over-allocation of allowances are analysed; namely cross-subsidization from non-ETS to ETS sectors, national subsidies to the ETS sectors, and distortion of competition.
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Persistent link: https://EconPapers.repec.org/RePEc:taf:tcpoxx:v:9:y:2009:i:3:p:227-241
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