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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10197/2075
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| Title: | Abatement and allocation in the pilot phase of the EU ETS |
| Author: | Anderson, Barry
Di Maria, Corrado
Convery, Frank J. |
| Date: | Apr-2009 |
| Publisher: | Irish Economic Association |
| Type of material: | Conference Publication |
| Abstract: | We use historical industrial emissions data to assess the level of abatement and overallocation
that took place across European countries during the pilot phase (2005-2007)
of the European Union Emission Trading Scheme. Using a dynamic panel data model, we
estimate the counterfactual (business-as-usual) emissions scenario for EU member states.
Comparing this baseline to allocated and verified emissions, we conclude that both overallocation
and abatement occurred, along with under-allocation and emissions inflation.
Over the three trading years of the pilot phase we find over-allocation of approximately 376
million EUAs (6%) and total abatement at the member state level of 107 Mt CO2 (1.8%).
However, due to over-allocation and possible uncertainty about future allocation methodologies,
we calculate that emissions inflation of approximately 119 Mt CO2 (2%) occurred,
resulting in emissions over the pilot phase being approximately 12 Mt CO2 (0.2%) higher
than they would have been in the absence of the EU ETS. |
| Conference details: | Twenty-third Annual Conference of the Irish Economic Association, Blarney, Co. Cork, 24-26 April 2009 |
| Web link to reference this item: | http://hdl.handle.net/10197/2075 |
| Keywords: | Emissions trading scheme; Climate policy; Dynamic panel data analysis; |
| NEREUS JEL code: | C23; O13; Q54; Q58; |
| Subject Heading: | Emissions trading--Europe; Environmental policy--Europe; Greenhouse gas mitigation--Europe; |
| Other web versions: | Publisher's version |
| Status of Item: | Not peer reviewed |
| Availability: | Full text available |
| Appears in Collections: | GPEP Research Collection
Economists Online Collection & RePEc
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