Allowance Allocation and the Relevance to Carbon Leakage under the EU ETS
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This paper aims to analyze the effects of functional natures of current major allowance allocations on the trading market and on EU economy as a whole and the relevance to carbon leakage. And this paper demonstrates and argues that the risk of carbon leakage can be mitigated to some degree at the allocation level The paper elucidates as well the position that grandfathering with the trait of free financial aid has caused the oversupply of the allowances (EUA) entailing negative effects in part on the trading market and EU industry to some degree. Subsequently, it analyzes and proves that the backdrop has prompted the European Commission to encourage the gradual phase-in of auctioning and that, as a result, some of the EU ETS covered installations emitting CO2 emissions heavily are increasingly exposed to the carbon leakage risk for the burden of the cost. In response to it, the paper plainly proves and argues that the grandfathering related measures with some modifications should be approachable and practicable solutions to mitigate the risk. And lastly, the paper suggests some other approachable options to the problem as well.
Abstract
This paper aims to analyze the effects of functional natures of current major allowance allocations on the trading market and on EU economy as a whole and the relevance to carbon leakage. And this paper demonstrates and argues that the risk of carbon leakage can be mitigated to some degree at the allocation level The paper elucidates as well the position that grandfathering with the trait of free financial aid has caused the oversupply of the allowances (EUA) entailing negative effects in part on the trading market and EU industry to some degree. Subsequently, it analyzes and proves that the backdrop has prompted the European Commission to encourage the gradual phase-in of auctioning and that, as a result, some of the EU ETS covered installations emitting CO2 emissions heavily are increasingly exposed to the carbon leakage risk for the burden of the cost. In response to it, the paper plainly proves and argues that the grandfathering related measures with some modifications should be approachable and practicable solutions to mitigate the risk. And lastly, the paper suggests some other approachable options to the problem as well.
참고문헌 (32)
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