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Corporate Responses To Eu Emissions Trading
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Book Synopsis Corporate Responses to EU Emissions Trading by : Jon Birger Skjærseth
Download or read book Corporate Responses to EU Emissions Trading written by Jon Birger Skjærseth and published by Routledge. This book was released on 2016-05-13 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union (EU) aims to put Europe on track toward a low-carbon economy. In this striking challenge, the EU Emissions Trading System (EU ETS) has been singled out as the Union’s key climate policy instrument, ultimately aimed as a model for a global carbon market. The learning effect of the EU ETS could thus be tremendous. This study explores how the EU ETS actually works on the ground, affecting corporate climate strategies. It covers general sector responses as well as systematic comparative studies of companies across the sectors. The latter enables improved understanding of causal effects and the role of interaction between different policy instruments and other factors that impact corporate climate strategies. The study explores a broad set of mechanisms at play potentially linking the EU ETS to company climate strategies. These include how corporate norms of responsibility are affected by the EU ETS and how economic incentives provide opportunities for innovation. The book’s main contribution lies in its systematic examination of corporate responses to the EU ETS from a broad empirical and analytical social science perspective covering companies in all main EU ETS sectors: electric power, oil, cement, steel and pulp and paper.
Book Synopsis Corporate Responses to EU Emissions Trading by : Jon Birger Skjærseth
Download or read book Corporate Responses to EU Emissions Trading written by Jon Birger Skjærseth and published by . This book was released on 2013 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Responses to Climate Change by : Rory Sullivan
Download or read book Corporate Responses to Climate Change written by Rory Sullivan and published by Routledge. This book was released on 2017-09-08 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the scale of the greenhouse gas emissions reductions that are seen as necessary to avert the worst effects of climate change, policy action is likely to result in a complete reshaping of the world economy. The consequences are not confined to 'obvious' sectors such as power generation, transport and heavy industry; virtually every company's activities, business models and strategies will need to be completely rethought. In addition, beyond their core business activities, companies have the potential to make important contributions to reducing greenhouse gas emissions through the allocation of capital, through innovation and the development of new technologies, and through their influence on the actions taken by governments on climate change. Corporate Responses to Climate Change has been written at a crucial point in the climate change debate, with the issue now central to economic and energy policy in many countries. The book analyses current business practice and performance on climate change, in the light of the dramatic changes in the regulatory and policy environment over the last five years. More specifically, it examines how climate change-related policy development and implementation have influenced corporate performance, with the objective of using this information to consider how the next stage of climate change policy – regulation, incentives, voluntary initiatives – may be designed and implemented in a manner that delivers the real and substantial reductions in greenhouse gas emissions that will be required in a timely manner, while also addressing the inevitable dilemmas at the heart of climate change policy (e.g. how are concerns such as energy security to be squared with the need for drastic reductions in greenhouse gas emissions? Can economic growth be reconciled with greenhouse gas emissions? Can emissions reductions be delivered in an economically efficient manner?). The book focuses primarily on two areas. First, how have companies actually responded to the emerging regulatory framework and the growing political and broader public interest in climate change? Have companies reduced their greenhouse gas emissions and by how much? Have companies already started to position themselves for the transition to a low-carbon economy? Does corporate self-regulation – unilateral commitments and collective voluntary approaches – represent an appropriate response to the threat presented by climate change? What are the barriers to further action? Second, the book examines what the key drivers for corporate action on climate change have been: regulation, stakeholder pressure, investor pressure. Which policy instruments have been effective, which have not, and why? How have company actions influenced the strength of these pressures? Corporate Responses to Climate Change is a state-of-the-art analysis of corporate action on climate change and will be essential reading for businesses, policy-makers, academics, NGOs, investors and all those interested in how the business sector is and should be dealing with the most serious environmental threat faced by our planet.
Book Synopsis Strategic Responses to the Eu Emission Trading Scheme by : Simon Hecker
Download or read book Strategic Responses to the Eu Emission Trading Scheme written by Simon Hecker and published by GRIN Verlag. This book was released on 2011-10 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2011 in the subject Economy - Environment economics, grade: 1.1, course: International Business, language: English, abstract: Emitting half of the greenhouse gases in industrialised countries, the oil and gas sector plays a central role in global GHG emissions. Environmental regulations such as the EU ETS emerged to fight climate change by reducing GHG emissions. Although those regulations increasingly affect oil and gas companies, specific implications of the EU ETS on business strategies are widely unknown. Therefore, this dissertation explores strategic responses to the EU ETS and analyses the impact of the regulation on the oil and gas sector. A strategic response framework, derived from the literature review, provides the basis for the analysis and is consequently adapted to the research findings. Empirical case studies of BP and Shell, combine secondary data and expert interviews to identify and further outline specific responses to the EU ETS. The research findings indicate that the EU ETS significantly impacts business strategies of oil and gas firms. The resulting strategic responses are mainly influenced by regulatory pressure, economic factors and competitive implications. Responses in various corporate, managerial and operational areas could be identified. From a corporate perspective, oil and gas companies support the EU ETS, as a trading scheme for carbon is preferred to other options, such as carbon taxes. Managerial responses comprise the introduction of environmental risk management systems, incorporating a carbon price into investment decisions, and the establishment of carbon trading teams, mitigating the costs of the EU ETS. Operationally, oil and gas firms responded directly by engaging in carbon trading and investing in Carbon Capture and Storage technologies. While, process improvements and lower emission generating products such as natural gases and biofuels are responses triggered by the EU ETS, investments
Book Synopsis Strategic Responses to the EU Emission Trading Scheme by : Simon Hecker
Download or read book Strategic Responses to the EU Emission Trading Scheme written by Simon Hecker and published by GRIN Verlag. This book was released on 2011-10-28 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2011 in the subject Economy - Environment economics, grade: 1.1, , course: International Business, language: English, abstract: Emitting half of the greenhouse gases in industrialised countries, the oil and gas sector plays a central role in global GHG emissions. Environmental regulations such as the EU ETS emerged to fight climate change by reducing GHG emissions. Although those regulations increasingly affect oil and gas companies, specific implications of the EU ETS on business strategies are widely unknown. Therefore, this dissertation explores strategic responses to the EU ETS and analyses the impact of the regulation on the oil and gas sector. A strategic response framework, derived from the literature review, provides the basis for the analysis and is consequently adapted to the research findings. Empirical case studies of BP and Shell, combine secondary data and expert interviews to identify and further outline specific responses to the EU ETS. The research findings indicate that the EU ETS significantly impacts business strategies of oil and gas firms. The resulting strategic responses are mainly influenced by regulatory pressure, economic factors and competitive implications. Responses in various corporate, managerial and operational areas could be identified. From a corporate perspective, oil and gas companies support the EU ETS, as a trading scheme for carbon is preferred to other options, such as carbon taxes. Managerial responses comprise the introduction of environmental risk management systems, incorporating a carbon price into investment decisions, and the establishment of carbon trading teams, mitigating the costs of the EU ETS. Operationally, oil and gas firms responded directly by engaging in carbon trading and investing in Carbon Capture and Storage technologies. While, process improvements and lower emission generating products such as natural gases and biofuels are responses triggered by the EU ETS, investments in renewables are not affected. Additional findings of the research are the high probability that carbon and investment leakage will take place as well as the significant impact, the EU ETS might has on M&A and outsourcing decisions, depending on the carbon price.
Book Synopsis Multinational Corporations and Emissions Trading by : Jonatan Pinkse
Download or read book Multinational Corporations and Emissions Trading written by Jonatan Pinkse and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the Kyoto Protocol intended to implement emissions trading globally, this has so far been impossible. As a result, particularly Multinational Corporations (MNCs) currently face a wide variety of emissions trading schemes that differ in scope and enforcement, thus creating divergent levels of institutional constraints across locations. This article sheds light on the implications of these new constraints for MNCs, and also explores their responses to emissions trading schemes in terms of (perceived) opportunities to (re)shape the institution. Findings on strategic responses of Global 500 companies expose the constraints of particularly the EU emissions trading scheme, as well as the opportunities being explored or already exploited in various ways in this scheme and other emerging ones. Based on these findings the article proposes a framework that discerns four scenarios in which MNCs can find themselves: institutional conformist, institutional evader, institutional entrepreneur and institutional arbitrageur.
Book Synopsis Business Consequences of the EU Emissions Trading Scheme by :
Download or read book Business Consequences of the EU Emissions Trading Scheme written by and published by CEPS. This book was released on 2005 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Business of Climate Change by : Kathryn Begg
Download or read book The Business of Climate Change written by Kathryn Begg and published by Routledge. This book was released on 2018-05-08 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years climate change has become a leading issue on both the business and political agenda. With the Kyoto Protocol to the UN Framework Convention on Climate Change now ratified, business is bracing itself for the reality of serious regulation on the reduction of greenhouse gas emissions.The Business of Climate Change presents a state-of-the-art analysis of corporate responses to the climate change issue. The book describes and assesses a number of recent business approaches that will help to identify effective strategies and promote the dissemination of proactive corporate practices on climate change worldwide. By identifying the factors that cause companies to pursue low-carbon strategies and support the Kyoto process, the book will also be helpful to governments in formulating policy.Business and industry have a crucial role to play in the implementation of the Kyoto Protocol. They are major emitters of greenhouse gases, and pressure is mounting for them to engage in a range of mitigation strategies, from emission inventorying and trading schemes to investments in low-carbon technologies. Behind the scenes a number of companies have started to develop strategies to curtail greenhouse gas emissions.These strategies can be very diverse in nature. At a political level, companies try to influence policy implementation and, more specifically, to test ideas in anticipation of possible regulation on the climate change issue. At a more practical level, there are a burgeoning number of initiatives to conserve energy use in production, transportation and buildings, to develop renewable sources of energy, to measure carbon emissions and sequestration at a detailed level, and to develop various markets for trading carbon credits among companies and countries. Some technologies, such as hybrid cars and compact fluorescent lighting, are now market realities.Common to all of these initiatives is that they operate in an environment of high complexity and uncertainty. The political implementation of the Kyoto Protocol remains uncertain and many details remain unspecified. Economic instruments such as emission trading are favoured, but their mechanisms are still hotly debated and the future price of credits is unknown. New markets for low-emission products and technologies are beginning to appear, but there are currently few regulatory drivers to assist their development. The impact of potential regulation on business will vary tremendously between companies and sectors. The fossil fuel and energy sectors fear the economics of action, while sectors such as insurance and agriculture fear the economics of inaction. Combined with the remaining uncertainties about what form climate change may take, corporate responses to reduce risks have to differentiate between sectors and have to be flexible. For individual companies, these big uncertainties demand new thinking and contingency planning.The Business of Climate Change is split into four sections: "Introduction and overview" presents a broad perspective on business and climate policies
Book Synopsis Firms’ Response to Climate Regulations-Empirical Investigations Based on the European Emissions Trading System by : Fotios Kalantzis
Download or read book Firms’ Response to Climate Regulations-Empirical Investigations Based on the European Emissions Trading System written by Fotios Kalantzis and published by International Monetary Fund. This book was released on 2024-06-28 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a novel cross-country dataset, which merges firm-level financials with information on firms’ participation in the European Unions’ Emissions Trading System (ETS), we investigate how firm performance is affected by tightening of environmental policies that put a price on pollution. We find that more stringent policies do not have a strong negative impact on the profitability of ETS-regulated or non-ETS firms. While firms report an increase in their input costs during periods of high carbon prices, their reported turnover is also higher. Among ETS-regulated firms which must purchase emission certificates under the EU ETS, tightening of climate policies in periods of high carbon prices results in increased investment, particularly in intangible assets. We establish robustness of our results using a quantile regression analysis, ensuring our key findings are not driven by distributional irregularities. Our findings provide support for the benefits of EU ETS on accelerating firms’ climate transition, while keeping firm-level financial costs at bay.
Book Synopsis The European Union Emissions Trading Scheme by : Sarah Phelan
Download or read book The European Union Emissions Trading Scheme written by Sarah Phelan and published by . This book was released on 2004 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Emissions Trading written by Ralf Antes and published by Springer Science & Business Media. This book was released on 2008-07-01 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emissions trading challenges the management of companies in an entirely new manner. Most importantly it shifts the mode of governance of environmental policy from hierarchy to market. The contributions in this book discuss the theoretical implications of different institutional designs of emissions trading schemes. They review schemes implemented in the US and Europe, and evaluate the range of investment decisions and corporate strategies resulting from the new policy framework.
Book Synopsis The EU’s Emissions Trading Scheme as a Climate Protection Instrument. How it Works and How to Improve it by : Lukas Melhus
Download or read book The EU’s Emissions Trading Scheme as a Climate Protection Instrument. How it Works and How to Improve it written by Lukas Melhus and published by GRIN Verlag. This book was released on 2022-06-09 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2021 in the subject Economics - Macro-economics, general, grade: 1,0, Baden-Wuerttemberg Cooperative State University (DHBW), language: English, abstract: Simply put, emissions trading is a governmental instrument or framework to reduce pollutant emissions. While such trading has seen popularity in recent years, the broad concept has been around for quite some time. In 1968, Canadian economist John Dales argued that a government should issue a certain number of pollution rights certificates and offer them for sale, while at the same time enacting a law mandating anyone discharging a certain amount of waste in a given year to own one or more pollution rights for the whole year. He further argued that this framework would benefit by having the price determined by competition between buyers and sellers of rights rather than a person or authority.4 The fundamental idea behind emissions trading has remained the same to this day. At the end of the 1960s, the United States of America were the first to experiment with governmental trading schemes.5,6,7 During the Carter administration, the US Environmental Protection Agency (EPA) continued to expand these pollution control mechanisms, notably using them to reduce and ultimately stop the use of leaded petrol in the 1980s.8 Emissions trading schemes continued to be popular in the US and were used by the following administrations.
Download or read book Emissions Trading written by Ralf Antes and published by Springer Science & Business Media. This book was released on 2011-08-12 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emissions trading challenges the management of companies in an entirely new manner: Not only does it, like other market-based environmental policy instruments, allow for a bigger flexibility in management decisions concerning emission issues. More importantly, it shifts the mode of governance of environmental policy from hierarchy to market. But how is this change reflected in management processes, decisions and organizational structures? The contributions in this book discuss the theoretical implications of different institutional designs of emissions trading schemes, review schemes that have been implemented in the US and Europe, and evaluate the range of investment decisions and corporate strategies which have resulted from the new policy framework.
Book Synopsis Carbon Market Implications for New Eu Member States by : Dora Fazekas
Download or read book Carbon Market Implications for New Eu Member States written by Dora Fazekas and published by LAP Lambert Academic Publishing. This book was released on 2011-05 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a theoretically sound and empirically validated understanding of carbon trading in a New Member State of the EU. The research contributes to the field of environmental economics by analyzing data of companies directly subject to the EU Emissions Trading Scheme (EU ETS) and by drawing conclusions in order to improve the system for the post-Kyoto phase. This ex-post research is the first attempt to qualitatively and quantitatively estimate the effects of emissions trading on a new market economy based on actual market data. The study provides insights into how political, economic and climate policy contexts shape responses to the EU ETS.
Book Synopsis National Allocation Plans in the EU Emissions Trading Scheme by : Michael Grubb
Download or read book National Allocation Plans in the EU Emissions Trading Scheme written by Michael Grubb and published by Routledge. This book was released on 2010-09-23 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU emissions trading scheme is the largest emissions control scheme in the world, capping almost half of European CO2 emissions. As the scheme emerges from its pilot phase, this special issue of Climate Policy journal analyses the lessons learned from the last two years and their implications for phase II. The volume presents some of the key analyses that helped inform the European Commission's decisions on national allocation plans, with research ranging from detailed country-by-country comparisons to more generic analysis that puts forward the case for harmonization. Challenging calls to seperate electricity from other sectors, a macroeconomic study suggests that the biggest efficiency gains come from inter-sectoral trading, even more than international trading. Empirical papers, which look at the expected scarcity of allowances in the market and merge models for the power and non-power sectors to project emissions and contrast these to the aggregate allocation volume, are complemented by two numerical simulations of trade and distributional effects, estimating the efficiency gains of the EU ETS in phase I and assessing allocation and distribution effects in the RGGI context.
Book Synopsis Carbon Coalitions by : Jonas Meckling
Download or read book Carbon Coalitions written by Jonas Meckling and published by MIT Press. This book was released on 2011-08-12 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of how a transnational coalition of firms and NGOs influenced the emergence of emissions trading as a central component of global climate governance. Over the past decade, carbon trading has emerged as the industrialized world's primary policy response to global climate change despite considerable controversy. With carbon markets worth $144 billion in 2009, carbon trading represents the largest manifestation of the trend toward market-based environmental governance. In Carbon Coalitions, Jonas Meckling presents the first comprehensive study on the rise of carbon trading and the role business played in making this policy instrument a central pillar of global climate governance. Meckling explains how a transnational coalition of firms and a few market-oriented environmental groups actively promoted international emissions trading as a compromise policy solution in a situation of political stalemate. The coalition sidelined not only environmental groups that favored taxation and command-and-control regulation but also business interests that rejected any emissions controls. Considering the sources of business influence, Meckling emphasizes the importance of political opportunities (policy crises and norms), coalition resources (funding and legitimacy,) and political strategy (mobilizing state allies and multilevel advocacy). Meckling presents three case studies that represent milestones in the rise of carbon trading: the internationalization of emissions trading in the Kyoto Protocol (1989–2000); the creation of the EU Emissions Trading System (1998–2008); and the reemergence of emissions trading on the U.S. policy agenda (2001–2009). These cases and the theoretical framework that Meckling develops for understanding the influence of transnational business coalitions offer critical insights into the role of business in the emergence of market-based global environmental governance.
Book Synopsis The Politics of Low-Carbon Innovation by : Per Ove Eikeland
Download or read book The Politics of Low-Carbon Innovation written by Per Ove Eikeland and published by Springer. This book was released on 2019-06-28 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Although technological innovation is undoubtedly crucial for addressing climate change, low-carbon innovation policies and politics have hardly been studied. This book clearly reveals the promises and pitfalls of European efforts in this field – recommended reading!"—Sebastian Oberthür, Institute for European Studies, Belguim "This compact volume effectively addresses a surprisingly unknown territory in an otherwise well-explored landscape. In doing so, it will provide a useful resource to all who follow the uneven progress of climate and energy policy in the EU context, as well as those who are interested in policies to stimulate technology development more broadly." —Tim Rayner, Tyndall Centre for Climate Change Research, University of East Anglia, UK The EU Strategic Energy Technology Plan (SET-Plan) was aimed at accelerating low-carbon innovation by raising, coordinating and concentrating resources to certain low-carbon technologies. At the ten-year anniversary of the SET-Plan, this book examines why it was adopted and what it has achieved. Using an analytical framework developed to capture the ‘politics of innovation’, the authors trace the history of the Plan from initiation to implementation, and then explain its development as seen from the perspectives of the EU institutions, member-states, industry, the research community and international technology markets. The concluding chapter discusses lessons and prospects for European low-carbon innovation towards 2030 and beyond. This new work fills a void in the literature on EU climate and energy policies, and will appeal to scholars, students and practitioners in these fields.
