Seminars & webinars
18 April 2013

Second thoughts after the second trading period of EU ETS


Where: Venice
Location:

Fondazione Eni Enrico Mattei
Isola di San Giorgio Maggiore
30124 Venice

***
Video-conference
at FEEM Milan

How to reach: Google map
Event's Timetable:


h. 12.00 Seminar

Information:

Seminars Office, seminars@feem.it

Speakers:

Stefan P. Schleicher, Wegener Center for Climate and Global Change at the University of Graz

Abstract

The EU Emissions ‘Trading System (EU) was intended as the flagship of EU energy and environmental policy. After the introduction in 2005 and two trading periods the market for carbon allowances is on the verge of breaking down. We present an extensive data analysis of the more than 11.000 installations for obtaining evidence about the substantial differences in the performance over countries and sectors. We identify reasons why the cap and trade mechanism may have been built on too weak conceptual foundations and why the mechanism design of the allocation procedure was flawed. Finally we argue that the current proposals for a reform are not sufficient and a fundamental structural re-design is recommended for which we put forward suggestions for incentive compatible mechanism designs.

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Second thoughts after the second trading period of EU ETS

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