Carbon leakage is an issue of major interest in both academic and policy debates about the effectiveness of unilateral climate policy addressing global externalities. The debate is particularly salient in Europe, where the EU Emissions TradingSystem (EU ETS) covers emissions of many traded sectors. In a first step, we review how carbon leakage and the pollution haven effect are defined and identified ...
International offset certificates trade at lower prices than European Union Allowances (EUAs), although they are substitutes within the EU Emissions Trading System (EU ETS) for CO2. Firms therefore had a strong incentive to use the cheaper certificates. However, a considerable number of firms did not use their allowed offset quota and, by doing so, seemingly forwent profits. While most of the literature ...
Das 2003 eingeführte europäische Emissionshandelssystem (EU-ETS) ist ein zentrales Instrument der nationalen und europäischen Klimapolitik. Seit der 3. Handelsperiode (2013-2020) wird die Obergrenze der Emissionen (das „Cap“) nun EU-weit festgelegt, ein großer Teil der Emissionsberechtigungen wird versteigert und für die kostenlose Zuteilung gelten in allen EU-Mitgliedstaaten dieselben Regeln. Die ...
(Climate Change ; 2018, 29)
| Verena Graichen; Hannah Förster, Jakob Graichen, Sean Healy, Julia Repenning, Katja Schumacher, Vicki Duscha, Nele Friedrichsen, Sascha Lehmann, Gizem Erdogmus, Ines Haug, Solbin Kim, Aleksandar Zaklan, Jochen Diekmann
The Paris Agreement calls on countries to pursue efforts to limit global average temperature rise to 1.5°C. We derive a 2016–2050 emission budget for the EU Emissions Trading System (EU ETS) based on cost-effectiveness criteria aimed at achieving the 1.5°C target with a 50%–66% probability, and translate it into a cap reduction path. We show that, under current ETS parameters, the vast majority of ...
21 (2021), 6, S. 778–791
| Aleksandar Zaklan, Jakob Wachsmuth, Vicki Duscha
Carbon leakage is of interest in both academic and policy debates about the effectiveness of unilateral climate policy, especially in Europe, where the EU Emissions Trading System (EU ETS) affects many traded sectors. We review how the literature identifies leakage and the pollution haven effect. We then evaluate whether EU ETS emission costs caused carbon leakage in European manufacturing, using trade ...
Journal of Environmental Economics and Management
93 (2019), S. 125-147
| Helene Naegele, Aleksandar Zaklan
International carbon offset certificates were cheaper than European Union Allowances, although they were substitutes within the EU Emissions Trading System (EU ETS). Thus, firms had a strong incentive to use offset certificates. However, a considerable number of firms did not exhaust their offset quota and, by doing so, seemingly forwent profits. While most literature on emissions trading evaluates ...
Environmental & Resource Economics
70 (2018), 1, S. 77-106
| Helene Naegele