The European Union’s (EU) Emissions Trading Scheme

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Climate Change and the EU Emissions Trading Scheme (ETS): Looking to 2020

Our Price: $15.00

By Larry Parker (au)
Year: 2010
Pages: 19
Binding Paperback

Product Code: 1437929354

Description

The European Union’s (EU) Emissions Trading Scheme (ETS) is a cornerstone of the EU’s efforts to meet its obligation under the Kyoto Protocol. It covers more than 10,000 energy intensive facilities across the 27 EU Member countries; covered entities emit about 45% of theEU’s carbon dioxide emissions. A “Phase 1” trading period began Jan. 1, 2005. A second, Phase 2, trading period began in 2008, covering the period of the Kyoto Protocol. A Phase 3 will begin in 2013 designed to reduce emissions by 21% from 2005 levels. The U.S. is not a party to the Kyoto Protocol. However, five years of carbon emissions trading has given the EU valuable experience in designing and operating a greenhouse gas trading system. This experience may provide some insight into cap-and-trade design issues currently being debated in the U.S. Contents of this report: (I) Overview; (II) Results from Phase 1 and 2; (III) Phase 3: Auctions; New Entrant Reserves; EC Phase 3 Decision on Eligible Industries; Flexibility Mechanisms and Price Volatility Control; Expanding Coverage; (IV) Summary and Considerations for U.S. Cap-and-Trade Proposals: Emission Inventories and Target Setting; Coverage; Allocation Schemes; Flexibility and Price Volatility. Figures.

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