PDF BookClimate Change and the EU Emissions Trading Scheme (ETS) Looking to 2020

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[Free PDF.6kRk] Climate Change and the EU Emissions Trading Scheme (ETS) Looking to 2020

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The European Union’s (EU) Emissions Trading Scheme (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; covered entities emit about 45% of the EU’s carbon dioxide emissions. A “Phase 1” trading period began January 1, 2005. A second, Phase 2, trading period began in 2008, covering the period of the Kyoto Protocol. A Phase 3 will begin in 2013 designed to reduce emissions by 21% from 2005 levels.Several positive results from the Phase 1 “learning by doing” exercise assisted the ETS in making the Phase 2 process run more smoothly, including: (1) greatly improving emissions data, (2) encouraging development of the Kyoto Protocol’s project-based mechanisms—Clean Development Mechanism (CDM) and Joint Implementation (JI), and (3) influencing corporate behavior to begin pricing in the value of allowances in decision-making, particularly in the electric utility sector.However, several issues that arose during the first phase were not resolved as the ETS moved into Phase 2, including allocation schemes and new entrant reserves, and others. A more comprehensive and coordinated response by the EU has been made for Phase 3 with harmonized and coordinated rules being developed by the European Commission.The United States is not a party to the Kyoto Protocol. However, five years of carbon emissions trading has given the EU valuable experience in designing and operating a greenhouse gas trading system. This experience may provide some insight into cap-and-trade design issues currently being debated in the United States.• The EU-ETS experience illustrates the importance of having reliable emissions data for all facilities covered under a cap-and-trade scheme; data that are pivotal for developing allocation systems, reduction targets, and enforcement provisions.• In the United States debate continues on comprehensive versus sector-specific reduction programs; the EU-ETS experience suggests that adding sectors to a trading scheme once established may be a slow, contentious process.• As with most EU industries, most U.S. industry groups either oppose auctions outright or want them to be supplemental to a base free allocation. The EU-ETS experience suggests Congress may want to consider specifying any auction requirement if it wishes to incorporate market economics more fully into compliance decisions.• EU-ETS analysis suggests the most important variables in determining Phase 1 allowance price changes were oil and natural gas price changes; this apparent linkage raises possible market manipulation issues, particularly with the inclusion of financial instruments such as options and futures contracts. The EU will examine the matter in preparation for Phase 3. Congress may consider whether the government needs enhanced regulatory and oversight authority over such instruments. 100 reasons why climate change is natural UK News ... 100 reasons why climate change is natural HERE are the 100 reasons released in a dossier issued by the European Foundation why climate change is natural and not man ... nzclimatescience.net - Home Coalition's mission: To represent accurately and without prejudice facts regarding climate change; to provide considered opinion on matters related to both natural ... Stop Climate Chaos Home Page Fine Gael's Foundation for Government document shows they still have their heads in the sand on climate change 8 Apr 2016. Stop Climate Chaos has today said that Fine ... Kyoto Protocol - Wikipedia the free encyclopedia Description. The Kyoto Protocol is an agreement made under the United Nations Framework Convention on Climate Change (UNFCCC). Countries that ratify this protocol ... PRESS/NEWS - Climate change Fijians vulnerable to climate change All Fijians have been urged to adjust their perception to that of a society vulnerable to climate change. Fiji Sun Online American Clean Energy and Security Act - Wikipedia The American Clean Energy and Security Act of 2009 (ACES) was an energy bill in the 111th United States Congress (H.R. 2454) that would have established a variant of ... Proposal to revise the EU emissions trading system (EU ETS) Questions and answers on the proposal to revise the EU emissions trading system (EU ETS) Brussels 15 July 2015 Secret deal: Australia already has an ETS carbon tax ... Get ready. The legislation was done on the last day Parliament sat in December. The Coalition government knew it would be popular with the voters who all want ... Kyoto Protocol - Wikipedia Kyoto Protocol; Kyoto Protocol to the United Nations Framework Convention on Climate Change GreenAir - Reporting on aviation and the environment GreenAir Online reports on environmental and green issues concerning aviation aerospace airlines airports travel and tourism
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