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.

The European Union (EU) has emerged as a leading governing body in the international struggle to govern climate change. The transformation that has occurred in its policies and institutions has profoundly affected climate change politics at the international level and within its 27 Member States. But how has this been achieved when the EU comprises so many levels of governance, when political leadership in Europe is so dispersed and the policy choices are especially difficult? Drawing on a variety of detailed case studies spanning the interlinked challenges of mitigation and adaptation, this volume offers an unrivalled account of how different actors wrestled with the complex governance dilemmas associated with climate policy making. Opening up the EU's inner workings to non-specialists, it provides a perspective on the way that the EU governs, as well as exploring its ability to maintain a leading position in international climate change politics.

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.

Master's Thesis from the year 2013 in the subject Business economics - Operations Research, grade: 2,3, University of Cologne, language: English, abstract: A significant volume of literature already exists concerning the inclusion of aviation in the EU-ETS. Most of the research laid its focus on specific industry levels such as the individual airline, the aviation industry in general or macroeconomic aspects. In this context, these studies tried to anticipate market reactions triggered by the EU-ETS by analyzing specific issues such as the financial impact on airlines, changes in competitive behavior or implications for the overall industry development. As a consequence, the existing studies took only a limited market view and made assumptions about expected developments in specific fields of the aviation industry. However, at the time of writing this thesis, conclusions about the scope of impact could hardly be drawn from existing impact assessments because of the wide range of issues that exceeded the scope of most impact studies. Hence, a broader research approach is needed which takes different analytical perspectives to describe the scope of impact of the EU-ETS and depict potential effects for the aviation industry.

This is a print on demand edition of a hard to find publication. The European Union¿s (EU) 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. A ¿Phase 1¿ trading period began 1/1/05. A second, Phase 2, trading period began in 2008. A Phase 3 will begin in 2013 designed to reduce emissions by 21% from 2005 levels. Contents of this report: (1) Overview; (2) Results from Phase 1 and 2; (3) Phase 3: Auctions; New Entrant Reserves; Decision on Eligible Industries; Flexibility Mechanisms and Price Volatility Control; Expanding Coverage; (4) U.S. Cap-and-Trade Proposals: Emission Inventories and Target Setting; Coverage; Allocation Schemes; Flexibility and Price Volatility. Illustrations.

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.