The authors review the decision-making since the Labour Government came into office (November 2007). The Australian Government‘s ̳Carbon Pollution Reduction Scheme‘ White Paper (15 December 2008) proposes that an Australian Emissions Trading Scheme (AETS) be implemented in mid 2010. Acknowledging that the scheme is comprehensive, the paper finds that in many cases, Australia will take a softer ...

This study analyzes the impacts of different drivers on pricing EU carbon futures in various periods by using time-varying parameter vector autoregressive (TVP-VAR) model. The results indicate that: (1) relationships between oil, gas, electricity, stock prices and price have significant characteristics those experienced an inversion 2016. might be due to pressure achieving “EU 20-20-20” targets...

This paper focuses on the relationship between European Union Emission Trading System allowances’ prices and Italian electricity price, aiming at assessing whether such a mechanism has been driver for decarbonization of power sector. To this aim, we calculate long-run relationships energy prices, natural gas through VECM model, distinguishing peak off-peak prices. The analysis is carried out th...

In this work, we investigate which countries have been more central during Phases I and II of the European Emission Trading Scheme (EU ETS) with respect to the different types of accounts operating in the system. We borrow a set of centrality measures from Network Theory’s tools to describe how the structure of the system has evolved over time and to identify which countries have been in the co...

The European Union Emission Trading Scheme (EU ETS) is a cornerstone of the EU's strategy to fight climate change and an important device for plummeting greenhouse gas (GHG) emissions in economically efficient manner. power industry has switched auction-based allocation system at onset Phase III EU ETS bring economic efficiency by negating windfall profits that have been resulted from grandfath...

The European Green Deal declares climate neutrality as a goal for the year 2050. It establishes an EU binding target to reduce greenhouse gas emissions by 55 percent 2030 compared 1990. market, through Emissions Trading Scheme, will determine how member states contribute this target. Effort Sharing Regulation defines national targets remaining GHG not covered ETS. In paper, energy optimization ...

The upcoming European Emissions Trading Scheme (ETS) is one of the more controversial climate policy instruments. Predictions about its likely impact and its performance can at present only be made to a certain degree. As long as the National Allocations Plans are not finally settled, the overall supply of allowances is not determined. In this paper we identify key features and key impacts of t...

The upcoming European Emissions Trading Scheme (ETS) is one of the more controversial climate policy instruments. Predictions about its likely impact and its performance can at present only be made to a certain degree. As long as the National Allocations Plans are not finally settled the overall supply of allowances is not determined. In this paper, we will identify key features and key impacts...

Markets, especially those for ‘fictitious’ commodities, are not the simple result of the gradual extension of exchange relations but social and political constructs. This paper discusses the socio-historical development of carbon markets and their application in the EU against the background of a Polanyian ‘double movement’: the reembedding of labour, money and land into social ties in the post...

Since 2005, when the European Union Emissions Trading Scheme (EU ETS) launched, green adoption in business and industry has been marred by fraudulent carbon credits, VAT swindlers and carbon cowboys, inefficiencies of a nascent market, and not least of all by legislative uncertainty. The disrepute afforded by these examples hindered low carbon growth and deterred emerging business models from a...