ESRI Discussion Paper Series No.230
European Climate Change Policy assessed, with Particular Focus on the European Union Emissions Trading Scheme?Evolution and Key Features to 2020 (UCD)

Frank J. Convery
Heritage Trust Professor of Environmental Policy
Corrado Di Maria
Environmental Economics Unit, University College Ireland, Dublin
Barry Anderson
Environmental Economics Unit, University College Ireland, Dublin
Jurate Jaraite
Environmental Economics Unit, University College Ireland, Dublin

Abstract

In this paper, we have surveyed the effects of European climate change policy on European economies and societies, and analyzed them empirically. The paper consists of four parts. Namely, 1) a survey of ex-ante studies and ex-post literatures on the cost assessments of European Union Emissions Trading Scheme (EU-ETS), 2) a research work on subjects and prospects of development, commercialization and diffusion of the Carbon Capture and Storage (CCS), 3) Irish case study on transaction costs of firms in the EU-ETS, and 4) Irish case study on response by firms in the EU-ETS. As a conclusion, this paper proposed appropriate environmental policy process for Japan based on the studies' results.


Structure of the whole text (PDF-Format 3 File)

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  2. page3
    PREFACE
  3. page5
    EXECUTIVE SUMMARY
  4. page14
    SOME IMPLICATIONS FOR THE JAPANESE POLICY PROCESS
    1. page14
      Insights for the design and operation of a Japanese Emissions Trading Scheme (JETS)
    2. page14
      Useful Perspectives for Modelling emissions trading markets ex ante and ex post.
    3. page15
      Business Opportunities and the Sectoral Approach.
  5. page17
    LEARNING FROM THE EX-ANTE LITERATURE ON THE EU ETS
    1. page17
      Abstract
    2. page18
      1. Introduction
    3. page19
      2. Guiding definitions and concepts of models assessing costs of climate change policies
    4. page24
      3. Ex-post costs in the EU ETS
    5. page25
      4. Ex-ante costs of the EU ETS
    6. page33
      5. Concluding lessons
    7. page35
      References
  6. page42
    1. page42
      Introduction
    2. page43
      1. The global climate change challenge is very unlikely to be successfully met
      unless we succeed in capturing the carbon emitted from new (coal and gas-fired) electricity plants.
    3. page47
      2. Carbon capture, transport and storage is technically feasible
    4. page50
      3. But there are huge challenges in scaling up from the current situation to meet the overall global challenge.
    5. page53
    6. page55
      5. European Policy Response has been comprehensive in attempting to address these challenges
    7. page58
      6. Key issues as to whether CCS deployment will succeed.
    8. page59
      7. Issues for the Japan policy process
    9. page59
      References
  7. page60
    TRANSACTION COSTS OF FIRMS IN THE EU ETS - IRISH CASE STUDY
    1. page60
      Abstract
    2. page61
      1. Introduction
    3. page62
      2. Environmental policy and transaction costs: theory and application
    4. page65
      3. Taxonomy of transaction costs in the EU ETS
    5. page66
      4. Research Methods
    6. page67
      5. Findings
    7. page74
      6. Conclusions and policy implications
    8. page77
      References
    9. page80
      Annex
  8. page100
    RESPONSE BY INDUSTRY TO THE EU ETS - IRELAND CASE STUDY
    1. page100
      Introduction
    2. page100
      Ireland and the EU ETS
    3. page102
      Research methodology
    4. page102
      Results
  9. page108
    ANNEX A EUROPEAN CLIMATE CHANGE AND ENERGY PACKAGE
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