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Author: Great Britain. Parliament. House of Commons. Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215020154
Category : Science
Languages : en
Pages : 36
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Book Description
The Scheme is one of the Government's policy measures designed to help meet its commitments under the 1997 Kyoto Protocol to secure significant reductions in UK greenhouse gas emissions, in order to address the causes of global warming. Under the Scheme, companies are issued with allowances equal to their target emissions for the year, and at the end of the year must hold enough allowances to cover its actual emissions. A company can choose to reduce its actual emissions below its target (enabling it to sell excess allowances to other companies, or to save them for use in future years), to meet its target, or to buy extra allowances to cover any emissions in excess of its target amount. Following on from a National Audit Office report on this topic (HCP 517, session 2003-04; ISBN 0102927804) published in April 2004, the Committee's report examines the risk management procedures associated with the Scheme, the way baselines for greenhouse emissions were set, the effectiveness of the auction and the market, and the wider benefits to the UK economy.
Author: Great Britain. Parliament. House of Commons. Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215020154
Category : Science
Languages : en
Pages : 36
Get Book Here
Book Description
The Scheme is one of the Government's policy measures designed to help meet its commitments under the 1997 Kyoto Protocol to secure significant reductions in UK greenhouse gas emissions, in order to address the causes of global warming. Under the Scheme, companies are issued with allowances equal to their target emissions for the year, and at the end of the year must hold enough allowances to cover its actual emissions. A company can choose to reduce its actual emissions below its target (enabling it to sell excess allowances to other companies, or to save them for use in future years), to meet its target, or to buy extra allowances to cover any emissions in excess of its target amount. Following on from a National Audit Office report on this topic (HCP 517, session 2003-04; ISBN 0102927804) published in April 2004, the Committee's report examines the risk management procedures associated with the Scheme, the way baselines for greenhouse emissions were set, the effectiveness of the auction and the market, and the wider benefits to the UK economy.
Author: UK Emissions Trading Group
Publisher:
ISBN:
Category :
Languages : en
Pages : 121
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Book Description
Author: Jonathan Robinson
Publisher: Cameron May
ISBN: 1905017359
Category : Climatic changes
Languages : en
Pages : 928
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Book Description
This book is the first comprehensive analysis of the regulatory framework for carbon trading in Europe. It brings together in one volume the first full legal analysis of EU and UK law relating to the EU emissions trading scheme, and all the legislative materials necessary to understand this innovative and complex area of environmental law. It is an essential companion for any professional advising on carbon trading in the UK or EU and a user-friendly reference tool for lawyers, carbon traders, and those working in regulated industries and financial institutions with an interest in carbon finance. It also provides an invaluable set of materials and lessons learned for policy makers and industry in jurisdictions where carbon trading are under development and for those with an interest in the use of market-based mechanisms to address other environmental problems.
Author: Jon Birger Skjærseth
Publisher: Routledge
ISBN: 1317140354
Category : Political Science
Languages : en
Pages : 231
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Book Description
The EU Emissions Trading Scheme (EU ETS) has been characterized as one of the most far-reaching and radical environmental policies for many years. Given the EU's earlier resistance to this market-based and US-flavoured programme, the development and implementation of the EU ETS has been rapid. This novel approach to environmental regulation has the potential to affect not only greenhouse gas emissions in the EU, but also international strategies for climate change protection. This book investigates the origins, evolution and consequences of the EU ETS and offers significant contributions to the literatures on climate policy and EU policy making.
Author: Sonja Butzengeiger
Publisher: Routledge
ISBN: 1134034741
Category : Political Science
Languages : en
Pages : 146
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Book Description
This special issue of the Climate Policy journal outlines the fundamentals of the new European Emissions Trading Scheme (EU ETS), assesses the strategies for and impact of implementation and highlights the scheme's potential, including positive aspects and remaining hurdles. The EU Emission Trading Scheme (EU ETS) is the first international trading scheme for CO2 in the world. Its aim is to reduce the cost of compliance to existing targets under the Kyoto Protocol. From 1st January 2005, companies in high-energy sectors covered by the scheme must limit their CO2 emissions to allocated levels, arranged in two periods: from 2005-2007 and 2008-2012 (to match the first Kyoto commitment period). In practice, the scheme is likely to cover over 12,000 installations across the European Union, corresponding to approximately 46% of the total EU CO2 emissions. The EU ETS represents a significant development in working at an international level to combat dangerous climate change. The EU Emissions Trading Scheme presents a comprehensive and insightful analysis of the EU ETS, written by international experts in the field. The publication includes the latest research on emissions credits, the interaction of the trading scheme with national energy policies and the debate on future expansion.
Author: Great Britain. National Audit Office
Publisher:
ISBN: 9780102927801
Category : Climatic changes
Languages : en
Pages : 46
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Book Description
The Scheme is part of the Government's climate change programme, which is designed to secure significant reductions in UK greenhouse gas emissions, believed to cause global warming. Under the Scheme, companies are issued with allowances equal to their target emissions for the year, and at the end of the year must hold enough allowances to cover its actual emissions. A company can choose to reduce its actual emissions below its target (enabling it to sell excess allowances to other companies, or to save them for use in future years), to meet its target, or to buy extra allowances to cover any emissions in excess of its target amount. This NAO report examines the Scheme's origins, impact and wider benefits, based upon consultation with participating companies and other stakeholders, case studies involving four of the biggest companies involved, and advice of an expert panel and assistance from specialist consultants. Overall, the report concludes that the Scheme is a pioneering initiative that has encouraged participants to identify emissions reductions, and has potential to benefit the UK economy. However, the fact that the Scheme is a voluntary one has led to difficulties in attracting participants and setting demanding targets. A number of recommendations are made to improve the existing UK Scheme and to help develop European trading schemes, including raising the value obtained from incentive payments and ensuring lessons are learned from the experience of the Scheme in any further developments or in the design of new environmental trading schemes.
Author: Sanja Bogojevic
Publisher: Bloomsbury Publishing
ISBN: 1782251650
Category : Law
Languages : en
Pages : 228
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Book Description
Over the last four decades emissions trading has enjoyed a high profile in environmental law scholarship and in environmental law and policy. Much of the discussion is promotional, preferring emissions trading above other regulatory strategies without, however, engaging with legal complexities embedded in conceptualising, scrutinising and managing emissions trading regimes. The combined effect of these debates is to create a perception that emissions trading is a straightforward regulatory strategy, imposable across various jurisdictions and environmental settings. This book shows that this view is problematic for at least two reasons. First, emissions trading responds to distinct environmental and non-environmental goals, including creating profit-centres, substituting bureaucratic control of resources, and ensuring regulatory compliance. This is important, as the particular purpose entrusted to a given emissions trading regime has, as its corollary, a particular governance structure, according to which the regime may be constructed and managed, and which trusts the emissions market, the state and rights in emissions allowances with distinct roles. Second, the governance structures of emissions trading regimes are culture-specific, which is a significant reminder of the importance of law in understanding not only how emissions trading schemes function but also what meaning is given to them as regulatory strategies. This is shown by deconstructing emissions trading discourses: that is, by inquiring into the assumptions about emissions trading, as featuring in emissions trading scholarship and in debates involving law and policymakers and the judiciary at the EU level. Ultimately, this book makes a strong argument for reconfiguring the common understanding of emissions trading schemes as regulatory strategies, and sets out a framework for analysis to sustain that reconfiguration.
Author: U K Stationery Office
Publisher: The Stationery Office
ISBN: 9780104014080
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
Both the UK and the EU have pinned much of their climate change policy on the effective opeation of the EU emissions trading system (ETS). Now in its second year the scheme has yet to demonstate that it can deliver the substantial greenhouse gas emission reductions that will form the yardstick of its success. This report examines the proposed revisions to the ETS, which would take effect in the scheme's third trading period, scheduled to last from 2013 to 2020. It is ultimately felt that if the ETS is to live up to its full potential, the aim must be to link it up with emissions trading schemes in other parts of the world so as to make the most of emission reduction opportunities in additional countries and sectors. However, the establishment of such links could prove arduous. It is anticipated that the EU may eventually face stark trade-offs between maintaining the environmental integrity of the ETS and extending its reach.
Author: Michael Grubb
Publisher: Earthscan
ISBN: 184977594X
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
The EU emissions trading scheme is the largest emissions control scheme in the world, capping almost half of European CO2 emissions. As the scheme emerges from its pilot phase, this special issue of Climate Policy journal analyses the lessons learned from the last two years and their implications for phase II.The volume presents some of the key analyses that helped inform the European Commission's decisions on national allocation plans, with research ranging from detailed country-by-country comparisons to more generic analysis that puts forward the case for harmonization. Challenging calls to seperate electricity from other sectors, a macroeconomic study suggests that the biggest efficiency gains come from inter-sectoral trading, even more than international trading. Empirical papers, which look at the expected scarcity of allowances in the market and merge models for the power and non-power sectors to project emissions and contrast these to the aggregate allocation volume, are complemented by two numerical simulations of trade and distributional effects, estimating the efficiency gains of the EU ETS in phase I and assessing allocation and distribution effects in the RGGI context.
Author: Aishwarya Padmanabhan
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Greenhouse gases (GHGs) can contribute to global warming regardless of their country of origin. To reduce the impacts, it doesn't matter which region of the world cuts back on emissions, as long as the overall amount across the globe falls. That is the idea behind greenhouse gas emissions trading, which places a cap on total emissions, allocates credits to individual emitters and then allows them to buy or sell credits in a market to meet their targets. These systems are set up within a cap-and-trade program enacted by legislation of the state, country or region. The Kyoto Protocol allows certain participating countries to buy and sell some of their allowances to meet their emissions targets. It also permits different domestic or regional trading schemes to link to one another. One such example is the UK Emissions Trading Scheme (UK ETS) which attempts to address the problem of GHGs. The UK ETS is one of the first examples of a market for carbon dioxide emissions trading. As a pilot scheme, it was largely inspired by the European Union Emissions Trading Scheme (EU ETS) to achieve their targets set in the Kyoto Protocol but differs on some key design aspects. The Author wishes to study this particular ETS since it has been relatively successful and it aims to understand its results and lessons learnt to date so that it can be a model or paradigm for other economies of the world to follow suit in the path towards addressing climate change issues such as Global Warming.
