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Abatement and Allocation in the Pilot Phase of the EU ETS AgEcon
Anderson, Barry; Di Maria, Corrado; Convery, Frank J..
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...
Tipo: Working or Discussion Paper Palavras-chave: Emissions Trading Scheme; Climate Policy; Dynamic Panel Data Analysis; Environmental Economics and Policy; C23; O13; Q54; Q58.
Ano: 2009 URL: http://purl.umn.edu/55831
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