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The Influence Of Emission Trading Regulation On Airline Stock Prices
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Book Synopsis The Influence of Emission Trading Regulation on Airline Stock Prices by : Lisa Jung
Download or read book The Influence of Emission Trading Regulation on Airline Stock Prices written by Lisa Jung and published by GRIN Verlag. This book was released on 2023-10-04 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2012 in the subject Business economics - Miscellaneous, grade: 1.3, European Business School - International University Schloß Reichartshausen Oestrich-Winkel (Aviation Management), language: English, abstract: The introduction of an emission trading system within the European Union from 2012 on represents a major financial barrier for all airlines, especially those operating their hubs inside the EU. While the plan is to request all airlines flying in the EU to buy emission certificates, most non-European carriers could still benefit from the international disputes going on at the moment. European-based airlines in turn fear a disadvantage against their non-european competitors, as the need for emission certificates will burden their already high cost structures even further. The paper should first explain the concept of emission trading schemes as well as the current plan of introducing emission trading in the European Union. The second part will then elaborate on the airline’s perspective on emission trading and the included risks/ disadvantages originating from an introduction of such a system. A third part will then analyze the correlation between announcements concerning the emission trading system and the performance of airline stock prices. The analysis shall be based on the stock performance of major European airlines, as they will be the ones facing major discrimination if the system gets introduced. Finally, the usefulness of an emission trading system is going to be discussed and alternatives to solve the climate change issue will be presented.
Book Synopsis Climate Policy and the Airline Industry by : Dominic Alistair McConnachie
Download or read book Climate Policy and the Airline Industry written by Dominic Alistair McConnachie and published by . This book was released on 2012 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis, I assess the impact of the current EU Emissions Trading Scheme and a hypothetical renewable jet fuel mandate on US airlines. I find that both the EU Scheme up until 2020 and a renewable jet fuel mandate of 1 bn gallons per year from 2018 to 2022 would have a small impact on US airlines and emissions, and operations would continue to grow by -3% p.a. I find that if carriers pass on all additional costs to consumers in the EU Scheme, including the opportunity costs associated with free allowances, windfall gains may be substantial at about $2.6bn because under current allocation rules, airlines would only have to purchase about a third of the required allowances. However, an increase in the proportion of allowances auctioned would reduce windfall gains and profits for US airlines would decline. If airlines pass on only allowance expenses airlines do not receive windfall gains. Out-of-sector abatement is estimated at about a third of airline emissions for the North Atlantic routes, compared to the estimated 1.6% in-sector emissions reductions due largely to reductions in demand under the EU Scheme. Under proposed EU legislation, airlines can use renewable jet fuel instead of purchasing emissions allowances. I find that the current allowance price would make it cheaper for airlines to purchase renewable jet fuel only under conditions where the renewable fuel price premium is 10 cents per gallon or less. I find that a renewable jet fuel mandate of 1bn gallons per year for US commercial aviation (about 4% of the total fuel use) with renewable jet fuel price premium of $1.50 would increase airline fuel costs by ~2% and reduce greenhouse gas emissions by between 2% and 4%. Emissions would continue to grow and reach approximate 2018 levels by 2022. I use the social cost of carbon, with a baseline value of $100/tCO2e, to calculate the societal cost-effective price premium of renewable jet. I find that fuels can have a price premium of between 40c and $1.30 per gallon, depending on life cycle greenhouse gas reduction. Renewable jet fuels examined in this thesis, including the only commercially available fuel, currently have price premiums of more than $2 per gallon and a calculated greenhouse gas abatement cost of more than $250/tCO2e. This thesis shows that the emerging renewable jet fuel industry needs to reduce costs to achieve greenhouse gas abatement costs, and therefore societal benefits, comparable to the social cost of carbon or EU allowance costs. It also shows that for the fuels examined with currently estimated prices, the EU Scheme, and the now defunct Waxman-Markey Bill would be lower cost options of greenhouse gas abatement for airlines than a renewable fuel mandate, and in any case would not preclude the use of renewable fuels should they be produced with lower price premiums.
Book Synopsis Manual on the Regulation of International Air Transport by : International Civil Aviation Organization
Download or read book Manual on the Regulation of International Air Transport written by International Civil Aviation Organization and published by . This book was released on 2004 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Markets for Clean Air by : A. Denny Ellerman
Download or read book Markets for Clean Air written by A. Denny Ellerman and published by Cambridge University Press. This book was released on 2000-06-19 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book analyzes the behavior and performance of the market for emissions permits, called allowances in the Acid Rain Program, and quantifies emission reductions, compliance costs, and cost savings associated with the trading program."--BOOK JACKET.
Book Synopsis International Trade Regulation and the Mitigation of Climate Change by : Thomas Cottier
Download or read book International Trade Regulation and the Mitigation of Climate Change written by Thomas Cottier and published by Cambridge University Press. This book was released on 2009-09-24 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can trade regulation contribute towards ameliorating the GHG emissions and reducing their concentrations in the atmosphere? This collection of essays analyses options for climate-change mitigation through the lens of the trade lawyer. By examining international law, and in particular the relevant WTO agreements, the authors address the areas of potential conflict between international trade law and international law on climate mitigation and, where possible, suggest ways to strengthen mutual supportiveness between the two regimes. They do so taking into account the drivers of human-induced climate change in energy markets and of consumption.
Book Synopsis Aviation and Climate Change by : Frank Fichert
Download or read book Aviation and Climate Change written by Frank Fichert and published by Routledge. This book was released on 2020-05-19 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the political, economic and managerial challenges for policy makers and the air transport industry as they face climate change. Based on an overview of the scientific background and technological options for emissions reduction, Aviation and Climate Change provides an in-depth assessment of environmental regulation and management. It provides an up-to-the-minute analysis of the effects of aviation on climate change, and an economic analysis of policies to reduce or eliminate greenhouse gas emissions. The main emphasis of the book is on the economic mechanisms used to lessen emissions – carbon taxes, emissions trading schemes and offset schemes. It pays particular attention to the ways these policies work, and to the interaction between them – for instance, the interaction between taxes and emissions trading schemes. One feature of the book is that it analyses the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) which has been developed by ICAO for international aviation, and which is due to commence operation shortly. The advantages and disadvantages of this controversial scheme are discussed. This book will be of interest to researchers in diverse areas (economics, political science, engineering, natural sciences), to air transport policy makers, and to managers in the aviation industry.
Book Synopsis Pricing Carbon by : A. Denny Ellerman
Download or read book Pricing Carbon written by A. Denny Ellerman and published by . This book was released on 2014-05-14 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first detailed description and analysis of the European Union Emissions Trading Scheme.
Download or read book The Greenhouse Gas Protocol written by and published by World Business Pub.. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The GHG Protocol Corporate Accounting and Reporting Standard helps companies and other organizations to identify, calculate, and report GHG emissions. It is designed to set the standard for accurate, complete, consistent, relevant and transparent accounting and reporting of GHG emissions.
Book Synopsis Climate Border Adjustments and WTO Law by : Ulrike Will
Download or read book Climate Border Adjustments and WTO Law written by Ulrike Will and published by BRILL. This book was released on 2019-07-29 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Climate Border Adjustments and WTO Law, Ulrike Will develops a convincing reform proposal for a climate border adjustment (BA) on imports within the EU Emission Trading System (ETS), which would be immune to disputes at the WTO and comply with international climate agreements while remaining economically feasible and straightforward to implement.
Book Synopsis The Poverty and Distributional Impacts of Carbon Pricing: Channels and Policy Implications by : Baoping Shang
Download or read book The Poverty and Distributional Impacts of Carbon Pricing: Channels and Policy Implications written by Baoping Shang and published by International Monetary Fund. This book was released on 2021-06-25 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the poverty and distributional impacts of carbon pricing reforms is critical for the success of ambitious actions in the fight against climate change. This paper uses a simple framework to systematically review the channels through which carbon pricing can potentially affect poverty and inequality. It finds that the channels differ in important ways along several dimensions. The paper also identifies several key gaps in the current literature and discusses some considerations on how policy designs could take into account the attributes of the channels in mitigating the impacts of carbon pricing reforms on households.
Book Synopsis Carbon Pricing in Japan by : Toshi H. Arimura
Download or read book Carbon Pricing in Japan written by Toshi H. Arimura and published by Springer Nature. This book was released on 2020-09-17 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book evaluates, from an economic perspective, various measures introduced in Japan to prevent climate change. Although various countries have implemented such policies in response to the pressing issue of climate change, the effectiveness of those programs has not been sufficiently compared. In particular, policy evaluations in the Asian region are far behind those in North America and Europe due to data limitations and political reasons. The first part of the book summarizes measures in different sectors in Japan to prevent climate change, such as emissions trading and carbon tax, and assesses their impact. The second part shows how those policies have changed the behavior of firms and households. In addition, it presents macro-economic simulations that consider the potential of renewable energy. Lastly, based on these comprehensive assessments, it compares the effectiveness of measures to prevent climate change in Japan and Western countries. Providing valuable insights, this book will appeal to both academic researchers and policymakers seeking cost-effective measures against climate change.
Book Synopsis The Citizen's Guide to Climate Success by : Mark Jaccard
Download or read book The Citizen's Guide to Climate Success written by Mark Jaccard and published by Cambridge University Press. This book was released on 2020-02-06 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shows readers how we can all help solve the climate crisis by focusing on a few key, achievable actions.
Book Synopsis Pollution, Property & Prices by : John Harkness Dales
Download or read book Pollution, Property & Prices written by John Harkness Dales and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Dales pointed out that traditional economic and legal solutions to pollution and resource problems were never going to be satisfactory and that a "third way" was needed. Today, all environmental economists of my generation recognise the debt we owe to Dales's work, as one of the intellectual foundations for emissions trading that began in California in the 1970s and now extends across the world. It is a work of immense influence which deserves reprinting.' - David Pearce, University College London, UK In this classic book, originally published in 1968 by University of Toronto Press, John Dales proposed a new policy instrument for tackling pollution problems, namely 'markets in pollution rights'. Dales was one of the first economists to put forward such a solution, and in subsequent years a system of emissions trading has evolved which is now a centrepiece in international discussions of how to address the problem of global climate change.
Book Synopsis Interactions Between China’s National Emissions Trading Scheme and Electricity Market: Practices and Policies by : Tsun Se Cheong
Download or read book Interactions Between China’s National Emissions Trading Scheme and Electricity Market: Practices and Policies written by Tsun Se Cheong and published by Frontiers Media SA. This book was released on 2023-11-03 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s national carbon market, the world’s largest emissions trading scheme (ETS), kicked off its first online trade recently. This can be called a milestone for the country towards the nation’s goals of having CO2 emissions peak before 2030 and achieving carbon neutrality by 2060. China’s national ETS initially covers the power sector, before being expanded to a much broader set of energy-intensive industries. On one hand, the electricity sector, the largest carbon-emitting industry, is responsible for about 40% of China’s emissions, and it has great significance to response to global climate change. On the other hand, the effectiveness of China’s ETS will rest on how well it is coordinated with power market regulations and policies. In this regard, the deepening of reform, as well as the advanced technology and its applications in the electricity market will add new challenges and opportunities to electricity trade, which, in turn, influences national ETS. Therefore, this brings urgency to accurately capture the dynamic interactions between national ETS and electricity market to transform carbon trading into a practical and effective way to decarbonize the power sector.
Author :United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Clean Air, Climate Change, and Nuclear Safety Publisher : ISBN 13 : Total Pages :132 pages Book Rating :4.0/5 ( download)
Book Synopsis The Impact of Clean Air Regulations on Natural Gas Prices by : United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Clean Air, Climate Change, and Nuclear Safety
Download or read book The Impact of Clean Air Regulations on Natural Gas Prices written by United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Clean Air, Climate Change, and Nuclear Safety and published by . This book was released on 2008 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Global Carbon Pricing by : Peter Cramton
Download or read book Global Carbon Pricing written by Peter Cramton and published by MIT Press. This book was released on 2017-06-16 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the traditional “pledge and review” climate agreements have failed, and how carbon pricing, based on trust and reciprocity, could succeed. After twenty-five years of failure, climate negotiations continue to use a “pledge and review” approach: countries pledge (almost anything), subject to (unenforced) review. This approach ignores everything we know about human cooperation. In this book, leading economists describe an alternate model for climate agreements, drawing on the work of the late Nobel laureate Elinor Ostrom and others. They show that a “common commitment” scheme is more effective than an “individual commitment” scheme; the latter depends on altruism while the former involves reciprocity (“we will if you will”). The contributors propose that global carbon pricing is the best candidate for a reciprocal common commitment in climate negotiations. Each country would commit to placing charges on carbon emissions sufficient to match an agreed global price formula. The contributors show that carbon pricing would facilitate negotiations and enforcement, improve efficiency and flexibility, and make other climate policies more effective. Additionally, they analyze the failings of the 2015 Paris climate conference. Contributors Richard N. Cooper, Peter Cramton, Ottmar Edenhofer, Christian Gollier, Éloi Laurent, David JC MacKay, William Nordhaus, Axel Ockenfels, Joseph E. Stiglitz, Steven Stoft, Jean Tirole, Martin L. Weitzman
Book Synopsis Carbon Markets in a Climate-Changing Capitalism by : Gareth Bryant
Download or read book Carbon Markets in a Climate-Changing Capitalism written by Gareth Bryant and published by Cambridge University Press. This book was released on 2019-02-21 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: The promise of harnessing market forces to combat climate change has been unsettled by low carbon prices, financial losses, and ongoing controversies in global carbon markets. And yet governments around the world remain committed to market-based solutions to bring down greenhouse gas emissions. This book discusses what went wrong with the marketisation of climate change and what this means for the future of action on climate change. The book explores the co-production of capitalism and climate change by developing new understandings of relationships between the appropriation, commodification and capitalisation of nature. The book reveals contradictions in carbon markets for addressing climate change as a socio-ecological, economic and political crisis, and points towards more targeted and democratic policies to combat climate change. This book will appeal to students, researchers, policy makers and campaigners who are interested in climate change and climate policy, and the political economy of capitalism and the environment.
