Emission accountingCap‐and‐trade–This study aims to examine the impact of the emission allowances granted under California's cap-and-trade program (AB 32) – the first major program of its kind in the USA – on the balance sheets and income statements of the S&P 500. So far there has...
Climate change: designing a tradeable permit system This chapter focuses on what has arguably become the linchpin of EU climate policy, namely emissions trading. In January 2005, the EU adopted a 'cap-and-trade' emissions trading system (ETS), through which a certain emission cap was set .....
Emission discharge permits with regulatory tiering: Numerical simulations with a computer-assisted smart market Permit trading for a cap and trade policy where the property right traded is an emission discharge permit (EDP) and with hot spots can be addressed in a co... K Willett,A Caplanova,...
Influenced by the success of emission trading in the US for sulphur dioxide (SO2), some economists have argued for an upstream, economy-wide cap-and-trade scheme as the primary tool for achieving the required reduction in greenhouse gas (GHG) emissions. This paper addresses that argument a...
cap-and-tradeemission trading systemrisk aversionhedgingEU ETSMarket Stability ReserveCap-and-trade programs such as the European Union's Emissions Trading System (EU ETS) expose firms to considerable risks, to which the firms can respond with he...
programs •LinkwithWesternClimateInitiative(WCI) 4 WhatisCap-and-Trade? WhatisCap-and-Trade? •The“cap”limitsGHGemissions,anduses allowancestocontroltotalemissions –OneallowanceequalsonetonofGHGs •Thecapdeclineseachyear •Coveredentitiesmustreduceemissionsor ...
Cap-and-trade emission trading schemes (ETS) have become one of the most important strategic programs used by China to achieve its targets of energy conservation and carbon emission mitigation. In March 2011, China’s Twelfth Five-Year Plan pro- ...
We find no evidence for crowding out: cities plan their emission reductions in similar ways regardless of state-level cap-and-trade programs. Our results suggest that cities likely have a range of motivations for their climate policy efforts- not simply a altruistic desire to improve the global ...
This process may lead to faster cuts in pollution, since companies that cut their emission levels faster are somehow rewarded as can then sell their allowance to other companies. Because the government can decide to auction emissions credits to the highest bidder, cap and trade is also a revenue...
If the allowances (or emission permits) created by a cap-and-trade program are auctioned, the government will collect a significant amount of money that can be redistributed back to the electricity market participants to mitigate increases on electricity prices due to cap-and-trade and also, to...