Does a unilateral climate change policy cause companies to shift the location of production, thereby creating carbon leakage? In this paper, we analyze effect European Union Emissions Trading System (EU ETS) on geographic distribution emissions by multinational companies. The empirical evidence is based unique data for period 2007–2014 from Carbon Disclosure Project, which tracks businesses reg...

The central pillar of European climate policy, the European Emissions Trading System (EU ETS), is currently under scrutiny, as the allowance price is persistently low at around 5€/tCO2. The cap was met and emissions actually declined in recent years, ensuring the environmental effectiveness of the scheme. However, the low price may affect the long-term cost-effectiveness of the instrument by re...

In recent years, carbon emission markets have become liquid and promising markets within the European Union emissions trading scheme (EU ETS). In order to fit and forecast futures price for CO2 emissions allowances, we propose a new N-factor affine term structure model for CO2 futures price and estimate parameters in the new affine model by using the Kalman filter technique. Our empirical resul...

Abstract This paper analyses the role that companion policies have had in reduction of emissions regulated by EU Emissions Trading System (EU ETS) and related policy interactions, with a view to identifying relevant insights for China's forthcoming (ETS). The investigation rests on: (a) observation EU's ETSs mixes; (b) economic theory concerning ETS design; (c) empirical ex-post evidence from E...

We examine the economic impacts of using revenues from environmental taxation to reduce a pre-existing distortionary tax in multisector economy where regulation and apply heterogeneously across polluting sectors. With numerical framework including detailed sectoral disaggregation, we quantify these specific case European Union carbon pricing coexists with electricity levies employed support ren...

This paper assesses the potential impact of European Union Emissions Trading System (EU ETS) on firm productivity. We estimate a stylized version neo-Schumpeterian model, which incorporates innovation and productivity catch-up as two sources firm’s growth, while at same time accounting for persistent dispersion within industries. dynamic model allows us to differentiate effects EU ETS total fac...

This contribution aims to provide a better understanding of trade unions’ engagement with climate change policies. It analyses the interactions between intra- and interorganizational bargaining, taking steel 2018 revision EU Emissions Trading System (EU ETS) as case study. The finds that bargaining employers’ organizations strongly influenced formulation negotiating positions on ETS. is mainly ...

The European Emission Trading System (EU ETS) is generally considered as the prototype system for the other Emission Trading Systems (ETSs) for the reduction of greenhouse gases (GHGs) that are rapidly spreading around the world. To get a deeper understanding on the actual capacity of the EU ETS to stand as a model for the other ETSs, the present paper discusses the differences and similarities...

In this study, nondominated sorting genetic algorithm II (NSGA-II) was used to minimize the cost and carbon emissions of a liquefied natural gas (LNG) dual-fuel ship for given route. This study considered regulations emission control areas (ECA) European Union (EU) Emissions Trading System (ETS) determine optimal speed LNG/oil ratio ship. NSGA-II arrival time at each port LNG usage voyage leg a...