Download Emissions Trading and Competitiveness Allocations, by Michael Grubb PDF
By Michael Grubb
** Tightening of CO2 emission allocations within the european may possibly suggest giant money owed for industries affected--what affects will this have on their competitiveness? ** major specialists examine the results on competitiveness and profitability for a number of commercial sectors and the responses on hand to them ** First ever in-depth examine of this severe measurement of carbon emissions buying and selling schemes This particular factor of the weather coverage magazine examines the affects at the competitiveness and the economic incentives on hand from the CO2 allowance allocations lower than the ecu Emissions buying and selling Scheme, and discusses acceptable allocation methodologies, and whether–and if that is so at what stage–the ETS itself may have to be amended. The learn is multidisciplinary, combining fiscal, criminal and coverage research with particular reviews of affects on electrical energy, cement and different commercial sectors and allocation matters. It brings jointly the result of study performed during the last years from numerous study facilities and consultancies in Europe, and particularly paintings commissioned by means of the Carbon belief and weather innovations community. via those, it offers the main entire and certain set of analyses of allocation and competitiveness but performed. Lead authors comprise: Damien Demailly, Michael Grubb, Angus Johnston, Karsten Neuhoff, Jos Sijm and Robin Smale.
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Extra info for Emissions Trading and Competitiveness Allocations, Incentives and Industrial Competitiveness under the EU Emissions Trading Scheme
Only in the steel and cement sectors does output reduction contribute to a significant carbon reduction. It is notable that the abatement curves predict similar levels of emissions reduction across all policy scenarios. There is an initial level of abatement that is achieved under low allowance prices, according to the abatement curve method. This is presumably because the curve contains a volume of abatement that has been deemed beneficial or costless to the company. e. abatement costs rise steeply after the initial, virtually costless, actions are exhausted.
3 As shown below, even assuming linear demand, it can be shown that significant pass-through occurs along with resulting profit-making from the EU ETS; adopting the isoelastic assumption would simply tend to make these effects even greater. Once the proportion of cost increase that is passed on to customers is known, the impact on profits from a decrease in margins can be established relatively easily. The magnitude of this effect is given by the sensitivity of demand to price, the ‘own-price elasticity of demand’.
They are all energy- and capital-intensive relative to the UK average. Energy is an important input into production, and the production plants tend to be large because of the associated economies of scale. Moreover, these f irms are often vertically integrated into companies that produce the raw materials for their production process, or consume or retail their product. In combination, these factors result in sectors comprising relatively few firms, and entry by new firms into the sector is relatively uncommon.