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Business perspectives on the EU emissions trading scheme

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  • Thomas L. Brewer

Abstract

A new and diverse range of regulatory issues for business has emerged as a result of the entry into force of the EU emissions trading scheme (ETS). The scheme is, of course, most directly relevant to firms with installations in the EU in the industry sectors that are covered in Phase I; however, the scheme also has implications for firms in other sectors, and indeed for firms outside the EU as well. This article focuses on how business people have perceived the scheme, particularly during the several years before its formal start-up on 1 January 2005. The article draws upon four surveys, as well as anecdotal evidence, to identify the key components of those perceptions. In sum, there is evidence of much uncertainty, but also skepticism and lack of interest. Among executives responding to the surveys, there was a widespread lack of information about the scheme and its consequences for their firms. As many as half of the firms in directly affected industries assumed that the ETS would not become operational according to schedule-and that when it did become operational, it would not be very consequential. At the same time, many firms nevertheless undertook a series of precautionary actions to prepare for the eventuality of an operational ETS by training personnel, establishing management teams and project directors, developing strategic responses, and trying to assess the impact of the ETS on themselves.

Suggested Citation

  • Thomas L. Brewer, 2005. "Business perspectives on the EU emissions trading scheme," Climate Policy, Taylor & Francis Journals, vol. 5(1), pages 137-144, January.
  • Handle: RePEc:taf:tcpoxx:v:5:y:2005:i:1:p:137-144
    DOI: 10.1080/14693062.2005.9685546
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    Cited by:

    1. Haupt, Madlen & Ismer, Roland, 2011. "Emissions Trading Schemes under IFRS - Towards a “true and fair view”," EconStor Research Reports 65872, ZBW - Leibniz Information Centre for Economics.
    2. Rodica-Manuela Gogonea & Simona Ioana Ghita & Andreea Simona Saseanu, 2020. "Biocapacity—Premise of Sustainable Development in the European Space," Sustainability, MDPI, vol. 12(3), pages 1-26, February.
    3. Christian Engau & Volker Hoffmann, 2011. "Corporate response strategies to regulatory uncertainty: evidence from uncertainty about post-Kyoto regulation," Policy Sciences, Springer;Society of Policy Sciences, vol. 44(1), pages 53-80, March.
    4. Anderson, Barry & Leib, Jörg & Martin, Ralf & McGuigan, Marty & Muuls, Mirabelle & Wagner, Ulrich J. & de Preux, Laure B., 2011. "Climate change policy and business in Europe: evidence from interviewing managers," LSE Research Online Documents on Economics 47493, London School of Economics and Political Science, LSE Library.
    5. Hyemin Park & Minkyung Lee, 2021. "Factors determining firms’ trading decision in the Korea ETS market," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 23(3), pages 557-580, July.
    6. Sunhee Suk, 2018. "Determinants and Characteristics of Korean Companies’ Carbon Management under the Carbon Pricing Scheme," Energies, MDPI, vol. 11(4), pages 1-23, April.
    7. Koch, Nicolas & Bassen, Alexander, 2013. "Valuing the carbon exposure of European utilities. The role of fuel mix, permit allocation and replacement investments," Energy Economics, Elsevier, vol. 36(C), pages 431-443.

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