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Emissions Trading, CDM, JI, and More: The Climate Strategy of the EU

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  • Gernot Klepper
  • Sonja Peterson

Abstract

The objective of this paper is to assess the likely allocation effects of the current climate protection strategy as it is laid out in the National Allocation Plans (NAPs) for the European Emissions Trading Scheme (ETS). The multi-regional, multi-sectoral CGE-model DART is used to simulate the effects of the current policies in the year 2012 when the Kyoto targets need to be met. Different scenarios are simulated in order to highlight the effects of the grandfathering of permits to energy-intensive installations, the use of the project-based mechanisms (CDM and JI), and the restriction imposed by the supplementarity criterion.

Suggested Citation

  • Gernot Klepper & Sonja Peterson, 2006. "Emissions Trading, CDM, JI, and More: The Climate Strategy of the EU," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 1-26.
    • Handle: RePEc:aen:journl:2006v27-02-a01
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    References listed on IDEAS

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    1. Gernot Klepper & Sonja Peterson, 2005. "Trading Hot-Air. The Influence of Permit Allocation Rules, Market Power and the US Withdrawal from the Kyoto Protocol," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 32(2), pages 205-228, October.
    2. Franck Lecocq, 2005. "State and Trends of the Carbon Market—2004," World Bank Publications - Books, The World Bank Group, number 7457.
    3. Gernot Klepper & Sonja Peterson, 2004. "The EU Emissions Trading Scheme. Allowance Prices, Trade Flows, Competitiveness Effects," Working Papers 2004.49, Fondazione Eni Enrico Mattei.
    4. Franck Lecocq & Karan Capoor, "undated". "State and Trends of the Carbon Market 2005," World Bank Publications - Reports 13411, The World Bank Group.
    5. repec:wbk:wboper:13410 is not listed on IDEAS
    6. Klepper, Gernot & Peterson, Sonja, 2004. "The EU emissions trading scheme allowance prices, trade flows and competitiveness effects," Open Access Publications from Kiel Institute for the World Economy 3270, Kiel Institute for the World Economy (IfW Kiel).
    7. Klepper, Gernot & Peterson, Sonja & Springer, Katrin, 2003. "DART97: a description of the multi-regional, multi-sectoral trade model for the analysis of climate policies," Kiel Working Papers 1149, Kiel Institute for the World Economy (IfW Kiel).
    8. Axel Michaelowa & Marcus Stronzik & Frauke Eckermann & Alistair Hunt, 2003. "Transaction costs of the Kyoto Mechanisms," Climate Policy, Taylor & Francis Journals, vol. 3(3), pages 261-278, September.
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    JEL classification:

    • F0 - International Economics - - General

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