Relevant bibliographies by topics / Emissions trading market

Academic literature on the topic 'Emissions trading market'

Author: Grafiati
Published: 7 July 2024
Last updated: 7 July 2024

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
  6. Reports

Journal articles on the topic "Emissions trading market":

1

Wang, Xiaoya. "The impact of China's entry into the carbon trading market on European carbon prices." BCP Business & Management 34 (December 14, 2022): 1542–50. http://dx.doi.org/10.54691/bcpbm.v34i.3210.

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As the world's largest greenhouse gas emission country, the success or failure of the Chinese national carbon emissions trading market will largely determine climate change’s further development. Chinese national carbon market, which was opened on July 16, 2021, will also exert spillover effects on carbon trading markets in other countries, including the European carbon emissions trading market, which will have a more significant impact. This paper uses the double difference model(DID), sets the price of European certification emission reduction(CER) as the dependent variable, and takes China's entering into the carbon emissions trading market and the RMB exchange rate as the independent variable to test the influences of China's entering in the carbon emissions trading market on the European CER price. After that, non-linear machine learning models such as support vector machines are used to fit and predict the price of European CER, which further verifies that the opening of the Chinese national carbon emissions trading market contributes to a decline in European CER price.
2

Wu, Ming Ming. "China’s Carbon Emissions Trading Market Analysis." Advanced Materials Research 113-116 (June 2010): 484–87. http://dx.doi.org/10.4028/www.scientific.net/amr.113-116.484.

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As one of the carbon trade mechanisms ratified by Tokyo Protocol, the Carbon Emission Permits Trade has played a significant role of offsetting the global warming problem. This paper introduces the international carbon emissions trading market mechanisms, transaction type, and volume and price, and then analyses the status of carbon emissions trading at home and abroad. Finally, the author puts forward construction carbon emissions trading in China.
3

Zhang, Kailin, Ailin Zhao, Qibo Yan, Meiqi Sheng, and Xiaochun Zhang. "Research on Carbon Emission Market Pricing Based on Putty-Clay Vintage Model." E3S Web of Conferences 358 (2022): 02012. http://dx.doi.org/10.1051/e3sconf/202235802012.

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With the rapid development of economy, the ecological environment problem of global warming is becoming increasingly serious. In order to effectively implement carbon emission reduction, countries have successively established carbon tax system or carbon emission trading market. China has established carbon emissions trading market in seven pilot provinces since 2013, and plans to implement the national carbon emissions trading market in the ‘14th Five-Year’ period. In this process, how to price ‘carbon’ is the primary problem of China’s carbon trading market construction. This paper first reviews the current development status of carbon emissions pricing in China’s carbon trading pilot, and then analyzes the theoretical basis and price formation mechanism of carbon emissions trading pricing in the current carbon trading market, and then puts forward the carbon emissions pricing model based on Putty-Clay Vintage model, and puts forward reasonable policy suggestions for improving the current carbon pricing strategy in China.
4

Meng, Runtian. "A Comparative Study of Carbon Trading in China and Internationally." Advances in Economics, Management and Political Sciences 5, no. 1 (April 27, 2023): 6–12. http://dx.doi.org/10.54254/2754-1169/5/20220052.

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With the development of society and industry, global warming has become an important environmental issue, and carbon trading is a powerful tool to limit greenhouse gas emissions, and more and more countries have started to adopt carbon trading systems to decrease carbon emissions and to improve the environment. This paper lists the major carbon trading markets in the world and compares them with China's carbon trading, examining the development status, implementation and achievements of carbon trading in each country. This study investigates the carbon trading mechanisms in the EU, Japan and New Zealand, conducts a detailed study on carbon pricing, voluntary emission reduction, and policy promotion, points out the strengths and weaknesses of carbon trading in China, and makes suggestions for development and improvement. This will be useful for other carbon trading markets as well, and the expansion of the ranges of carbon trading mechanisms employed will further control carbon emissions. There is a need to establish a multi-level emissions trading system using various market-based instruments from central to provincial levels and to maintain the carbon market using more flexible carbon pricing. This paper hopes to establish a solid market system to achieve the goal of combating global warming by improving all aspects of carbon trading.
5

Wang, Haochong. "Enabling Carbon Market Regulation under the Coupling of Institutional Rationality and Economic Rationality." Frontiers in Humanities and Social Sciences 3, no. 5 (May 23, 2023): 125–32. http://dx.doi.org/10.54691/fhss.v3i5.5047.

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Carbon emissions trading is an important market-based instrument to address climate change and achieve carbon neutrality, which is different from general commodity trading and requires effective government regulation and empowerment. This paper analyzes the differences between the primary and secondary markets of carbon emissions trading from the perspective of coupling institutional and economic rationality, and points out that in the current carbon emissions regulation, the regulatory intervention is still insufficient in terms of scientificity, compulsion and flexibility, and systematic empowerment is needed. We should start from three perspectives: promoting the implementation of the Regulation on Carbon Emission Trading, clarifying the regulatory boundary between the horizontal authorities and the vertical central and local agencies in the carbon market, and paying attention to the synergy of economic incentive-based carbon emission regulation tools, and gradually constructing a regulation model compatible with carbon tax and carbon emission trading.
6

Wang, Xinyu. "How does global sustainable Policy influence Nation Policy -- A case Study of China." BCP Business & Management 33 (November 20, 2022): 270–83. http://dx.doi.org/10.54691/bcpbm.v33i.2760.

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In the face of increasing pressure to reduce emissions, China, as a major developing country in terms of emission reduction, is obliged to establish a carbon trading market. At present, there are constraints in China's carbon trading market, such as insufficient financial participation, obvious regional segmentation of emission reduction, lack of pricing power in the international carbon trading market, lack of intermediary service capacity, and institutional irregularities. Drawing on the development experience of carbon trading markets in developed countries, this paper clarifies the idea of establishing China's carbon trading market, recognizes the current international environment, analyzes the constraints to the development of the carbon trading market, designs the carbon trading market system, and discusses the required legal, policy, and regulatory safeguards. Finally, nine suggestions are put forward to improve the legal and regulatory system of carbon trading.
7

Wang, Linshan, Chuanming Liu, and Xi Yang. "Research on Carbon Emission Reduction Effect of China's Carbon Trading Pilot." Advances in Social Sciences Research Journal 7, no. 5 (May 23, 2020): 240–50. http://dx.doi.org/10.14738/assrj.75.8233.

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Carbon emissions trading is one of the important ways to reduce carbon emissions by giving CO2 emission rights a commodity attribute that allows them to trade on the market and to reduce greenhouse gas emissions through the market mechanisms. Based on the inter-provincial panel data from 1997 to 2016, this paper constructs a basic theoretical analysis framework to analyze the carbon emission reduction effects of carbon trading policies, adopts PSM-DID to study the carbon emission reduction effects of carbon trading pilots. This study finds that: (1) The implementation of the carbon trading pilot can promote carbon emission reduction, but the pilot provinces and municipalities have different economic development levels, industrial structure and supporting measures adopted after the implementation of the carbon trading pilot policy, resulting in differences in carbon emission reduction effects between pilot provinces. (2) For the seller of carbon emission rights, carbon emission reduction is achieved through three effects of "market return-inducing", "technical innovation incentive" and "government support"; for the buyer, carbon emission reduction is achieved through three effects of "enterprise cost pressure", "process innovation motivation" and "market guiding". (4) The results of traditional PSM-DID further prove that the carbon trading pilot can significantly reduce CO2 emissions.
8

Yang, Xianzi, Chen Zhang, Yu Yang, Yaqi Wu, Po Yun, and Zulfiqar Ali Wagan. "China’s Carbon Pricing Based on Heterogeneous Tail Distribution." Sustainability 12, no. 7 (April 1, 2020): 2754. http://dx.doi.org/10.3390/su12072754.

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To address climate change, the carbon emission trading scheme has become one of the main measures to achieve emission reduction goals. One of the core problems in constructing the carbon emissions trading market is determining carbon emissions trading prices. The scientific nature of carbon emissions pricing determines the effectiveness of market regulation. Research on the influencing factors and heterogeneous tail distribution of carbon prices can increase the accuracy of carbon pricing, which is particularly important for the development of the carbon emissions trading market. The current studies have some limitations and lack heterogeneous tail description. We employ the arbitrage pricing theory-standardized standard asymmetric exponential power distribution model to analyze China’s regional carbon emissions trading price and use a genetic algorithm to solve linear programming. The results confirm the theoretical results and efficiency of the proposed algorithm. First, the new model can capture the skewness, fat-tailed distribution, and asymmetric effects of China’s regional carbon emissions trading price. Second, the macroeconomy, similar products, energy price, and exchange rate influence the carbon price fluctuation; investors’ behavior plays an important role in the heterogeneous tail distribution of carbon price. The findings provide references for the government to take appropriate measures to promote carbon emission reduction and improve the effectiveness of China’s carbon market. Therefore, our findings can help enhance emission reduction and achieve sustainable development of a low-carbon environment.
9

Zhou, Li Li. "China's Carbon Emissions Pricing Options: Based on Black-Scholes Model Testing." Advanced Materials Research 573-574 (October 2012): 1010–16. http://dx.doi.org/10.4028/www.scientific.net/amr.573-574.1010.

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In this paper, by analyzing the cause of the weak power for China's carbon emissions, we design the trading and OTC options contracts of China's carbon emissions. By testing we found that the pricing method can indeed improve the pricing power of carbon emissions and acquire more transactions in negotiations .The policy implications of this article: Firstly, China should combine with domestic and international progress to plan the framework of China's carbon emissions trading as soon as possible. Secondly, we also launch the research of carbon emissions trading market and experimental work; the third, establishing trading center with the market-oriented to guide China's implementation of greenhouse gas emission reduction projects and to achieve Low-cost emission.
10

Long, Jia, Yi Shen, and Yongchang Liu. "Research on the effectiveness of Carbon Market Pilot Policies." Highlights in Business, Economics and Management 33 (May 9, 2024): 136–44. http://dx.doi.org/10.54097/trv35t42.

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The carbon trading market is widely recognized as a crucial tool in the effort to combat climate change and alleviate greenhouse gas emissions. It is essential to evaluate its effectiveness in implementation. To achieve this aim, we utilized the Differences-in-Differences (DID) method to analyze carbon emission data spanning from 2007 to 2020 across various provinces in China. The primary objective is to empirically investigate the impact of China's carbon emissions trading mechanism on regional carbon emissions. Results show that the implementation of the carbon emissions trading mechanism has played a positive role in reducing carbon emissions. The research identifies a significant positive correlation between the level of economic development (GDP) and foreign direct investment (FDI) with carbon emissions. Additionally, there is a positive association between the volume of proposals addressing environmental issues and carbon emissions. In summary, this study provides valuable insights into the effectiveness of China's carbon emissions trading mechanism, offering important lessons for future policy development and the optimization of the carbon market.
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Journal articles Dissertations / Theses Books

Dissertations / Theses on the topic "Emissions trading market":

1

Wölfing, Nikolas. "Interacting markets in electricity wholesale : forward and spot, and the impact of emissions trading." Thesis, Paris 1, 2013. http://www.theses.fr/2013PA010049.

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Cette thèse s'intéresse à plusieurs aspects des marchés de gros de l'électricité. L'achat et vente d'électricité se négocient sur les marchés à terme et sur le marché day-ahead. Sur ce dernier se pratique un type d'enchère très spécifique, où les enchères des acteurs prennent la forme de fonctions d'offre et de demande. Chapitre 2 prend comme point de départ un résultat de Zachmann et von Hirschhausen (2008) qui constatent une réponse asymétrique du prix de gros de l'électricité en Allemagne au changement du prix des permis d'émission négociable ( EUA ). Cependant, en contradiction avec les résultats existants, il est démontré que l'asymétrie a disparu suite à la publication d'un rapport d'enquête par l'autorité de la concurrence. Chapitre 3 porte sur l'interaction des marchés à terme et day-ahead dans un jeu d'oligopole répété. L'effet du marché à terme sur la stabilité des collusions est étudié dans le cas où les stratégies sur le marché spot prennent la forme des fonctions d'offre. Il est démontré que la simple existence d'un marché à terme peut élargir l'intervalle des valeurs du facteur d'actualisation pour lesquelles la collusion est soutenable. Chapitre 4 examine si une réaction asymétrique au changement du prix du C02 est également présente dans les fonctions d'offre du marché d'électricité day-ahead. À cette fin, les outils de l'analyse des données fonctionnelles sont adoptés et appliquées à des données des enchères. Chapitre 5 développe un test pour l'auto-corrélation dans un panel d'observations fonctionnelles. Une simulation Monte-Carlo montre une bonne puissance du test dans des échantillons de taille habituellement utilisé dans la recherche appliquée
This thesis addresses aspects of interacting markets in electricity wholesale. Electricity is traded in forward markets and in day-ahead auctions, which implement a very specifie market design. The bids of market participants take the fonn of supply and demand functions. Chapter 2 builds upon a finding of Zachmann and von Hirschhausen (2008) who report an asymmetric response of electricity wholesale prices for Gennany to changes in the price of EV Emission Allowances (EVA). ln contrast to the fonner contribution, it is shown that the asymmetry disappeared in response to a report on investigations by the competition authority. Chapter 3 addresses the interaction offorward markets and day-ahead auctions in a repeated oligopoly game. The effect offorward trading on the sustainability of collusion is studied for the case that spot market strategies take the fonn of supply functions. It is shown that the existence of forward markets enlarges the range of discount factors for which collusion can be sustained. Chapter 4 examines if an asymmetric reaction to EVA prices can also be found in the supply functions from the day-ahead market. To this end, tools from the field of functionaJ data analysis are adopted and applied to observed bids from the day-ahead auction. Chapter 5 develops a test for autocorrelation in functional panel data. Asymptotic nonnality of the statistic is proved, and Monte-Carlo simulation sho\l good power of the test in sample sizes which frequently prevail in applied research
2

De, Klerk W. A. (Willem Abraham). "An investigation into the trading in emissions credits as a free market mechanism to curb global warming." Thesis, Stellenbosch : Stellenbosch University, 2002. http://hdl.handle.net/10019.1/49717.

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Thesis (MBA)--Stellenbosch University, 2002.
ENGLISH ABSTRACT: One of the most topical and widely discussed factors which could lead to the ultimate end of life on earth is global warming and its devastating effects. Several current trends clearly demonstrate that global warming is directly impacting on rising sea levels, the melting of icecaps and other significant worldwide climatic changes. These climatic changes will have a profound effect on the economy of the world as well as having health and social consequences for humans on earth. It has also become evident that mankind has played a significant role in causing global warming through its excessive burning of fossil fuels and its deforestation activities. Mainstream economists have increasingly realised that the prime cause of environmental problems is the absence of markets and more specifically, the absence of private ownership, which provide the foundation for markets. This occurrence has also been described in the literature as the tragedy of the commons. Mankind has come to a point in its history whereby it is in great danger of causing its own annihilation through the destruction of its natural environment. As a result of this, world leaders and many industrialists have realised that it is essential that the world must do something to preserve the natural environment. This was the rationale behind the Kyoto Protocol. In Kyoto 38 industrial states undertook to reduce their total emissions of six important greenhouse gases by at least 5 percent by the period 2012 at the latest. It was agreed in Kyoto that the system to be used to curb global warming should be based on free market principles that would focus on limiting the tragedy of the commons. On this basis it was agreed that the international trade in greenhouse gas emission allowances might fulfil an important role in providing countries and companies with the capabilities to achieve part of their reduction obligations. The Kyoto mechanism was therefore designed on the basis of emissions trading, but also had an equity objective with respect to developing countries. Supporters of the trading scheme are of the opinion that this market will guarantee that certain emission targets are met. In principle, the international trade in emission credits offers several advantages in terms of a flexible and cost-efficient realisation of the reduction obligations undertaken at Kyoto. Supporters of emissions trading are also of the opinion that trading in these gases also has economic and technological benefits. The answer to global warming might be as simple as buy low, sell high conventions. Now greenhouse-gas emissions are becoming a commodity that can be bought and sold on a worldwide scale, just like gold or soybeans. It is expected that the trading in greenhouse-gas emission rights will ultimately constitute the largest commodities market in the world. An international market for greenhouse gas emission allowances is already developing. However, rules governing such transactions are not fully worked out yet. The 178-nation Kyoto Protocol on global warming may provide a start, despite the US's refusal to support the treaty. It will be the aim of this thesis to provide understanding in terms of the functioning of emissions trading schemes and therefore the Kyoto mechanism as a solution to this problem of global warming. It will also be an important objective of this thesis to provide insight into the issues applicable to climatic change and the Kyoto mechanism.
AFRIKAANSE OPSOMMING: Atmosfeerverwarming is wêreldwyd een van die mees bespreekte kwessies. Die nadelige effek van atmosfeerverwarming as gevolg van die toenemende kweekhuiseffek, het die potensiaal om tot die uiteindelike uitwissing van lewe op aarde te lei. Verskeie tendense dui daarop dat atmosfeerverwarming 'n direkte impak op stygende seevlakke, die ontvriesing van die pakys by die pole en ander noemenswaardige klimaatsversteuringe het. Indien iets drasties nie gedoen word om atmosfeer verhitting te keer nie, sal klimaatsversteuringe 'n geweldig nadelige effek op die wêreld ekonomie te weeg bring, asook 'n nadelige effek op gesondheids- en sosiale toestande tot gevolg hê. Dit het duidelik geword dat die aktiwiteite van die mensdom, hoofsaaklik verbranding van fossielbrandstowwe en ontbossing, te blameer is vir atmosfeerverwarming. Ekonome wêreldwyd het toenemend besef dat die hoofrede vir omgewingsprobleme, soos atmosfeerverwarming, toegeskryf kan word aan die afwesigheid van markte en meer spesifiek die afwesigheid van privaatbesit, wat in effek die basis van die vrye mark vorm. Hierdie gebeurtenis word in die ekonomiese literatuur beskryf as die "tragedie van die gemene goedere" . Wêreldpolitici en industriële leiers het besef dat die mens by 'n punt in sy geskiedenis gekom het waar hy moontlik sy eie uitwissing kan bewerkstellig en dat iets drasties gedoen moet word om die natuurlike omgewing te beskerm om sodoende volhoubare ekonomiese groei te verseker. Hierdie besef het gelei tot die totstandkoming van die Kyoto Protokol waar 38 nywerheidslande ooreengekom het om voor die jaar 2012 hul totale nasionale emissies van die ses belangrikste kweekhuisgasse met ten minste 5 persent tot onder hul 1990 emissievlakke te verminder. Daar was in Kyoto ooreengekom dat die stelsel wat gebruik moet word om die Kyoto doelwitte te bereik sterk vryemark eienskappe moet besit asook meganismes om regverdigheid en gelykheid tussen lande in terme van kweekhuisgasbeperkings te verseker. Die Kyoto meganismes is ontwerp met sterk vryemark eienskappe, wat basies 'n stelsel is waarvolgens lugbesoedelingsregte verhandel kan word. Hierdie verhandeling van besoedelingsregte kan toegepas word om kweekhuis gasse te verminder. Die Kyoto meganismes en dus lugbesoedelingsverhandeling verskaf buigbaarheid aan besighede en lande om hul onderskeie besoedelingsbeperkingsdoelwitte op die mees koste effektiewe manier te bereik. Die antwoord op atmosfeer verwarming kan dalk so eenvoudig wees soos koop laag en verkoop hoog. Kweekhuisgasse is besig om net soos graan of goud 'n kommoditeit te raak. Daar word verwag dat die verhandeling in kweekhuis gas besoedelingsregte uiteindelik sal groei tot die grootste kommoditeitsmark ter wêreld. Ondersteuners van die Kyoto meganismes is van mening dat kweekhuisgas verhandeling ook ekonomiese en tegnologiese voordele inhou. Dit is 'n oogmerk van die Kyoto meganismes om die verskuiwing van tegnologie tussen ontwikkelde en ontwikkelende lande asook volhoubare groei te verseker. 'n Grysmark vir kweekhuisgas regte is reeds internasionaal, voor die beplande instelling van die Kyoto meganismes, aan die ontwikkel. Die reëls en regulasies vir die Kyoto meganismes is nog nie gefinaliseer nie. Dit en die onwilligheid van die VSA om die Protokol te onderteken, belemmer die vroegtydige implementering van die Kyoto meganismes en die effektiwiteit van die stelsel. Dit is die doelwit van die werkstuk om die leser bekend te maak met die funksionering van emissieverhandeling as 'n vryemark stelsel om omgewingsprobleme soos atmosfeerverwarming te verminder. Die werkstuk beoog ook om die kwessies betrokke by klimaatsverandering en die Kyoto meganismes aan die leser te verduidelik.
3

Rodríguez, Morales Jorge Ernesto. "Competition Policy and State Aid under the European Union Emissions Trading System." Pontificia Universidad Católica del Perú, 2015. http://repositorio.pucp.edu.pe/index/handle/123456789/115611.

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The interaction between competition and environmental policy is quite complex, particularly before state aids, whose control level reflects the emerging opportunity cost between both policies. In order to illustrate the potential efficiency losses or the imbalances on level playing field of competition, this article analyzes the legal, economic and political dimensions of the European Union Emissions Trading System (EU ETS) free allocation of allowances mechanism for the power generation sector.
La interacción entre la política de competencia y la medio ambientales bastante compleja, especialmente en el caso de las ayudas estatales, cuyo nivel de control refleja el coste de oportunidad emergente entre ambas. Con el fin de ilustrar las potenciales pérdidas de eficiencia o los desequilibrios en la equidad de condiciones de competencia, este artículo analiza las dimensiones legal, económica y política del mecanismo de asignación gratuita de permisos de emisión del Régimen Comunitario de Comercio de Derechos de Emisión (RCCDE) de la Unión Europea para el sector de la generación eléctrica.
4

Viteva, Svetlana. "The informational efficiency of the European carbon market." Thesis, University of Stirling, 2012. http://hdl.handle.net/1893/11204.

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This thesis examines the informational efficiency of the European carbon market based on the European Union Emissions Trading Scheme (EU ETS). The issue is approached from three different perspectives. I explore whether the volatility embedded in carbon options is a rational forecast of subsequently realized volatility. Then, I investigate if, and to what extent, new information about the structural and institutional set-up of the market impacts the carbon price dynamics. Lastly, I examine whether the European carbon market is relevant for the firm valuations of covered companies. First, perhaps because the market is new and derivatives’ trading on emission allowances has only started recently, carbon options have not yet been extensively studied. By using data on options traded on the European Climate Exchange, this thesis examines an aspect of market efficiency which has been previously overlooked. Market efficiency suggests that, conditional upon the accuracy of the option pricing model, implied volatility should be an unbiased and efficient forecast of future realized volatility (Campbell et al., 1997). Black (1976) implied volatility and implied volatility estimates directly surveyed from market participants are used in this thesis to study the information content of carbon options. Implied volatility is found to be highly informative and directionally accurate in forecasting future volatility. There is no evidence, however, that volatility embedded in carbon options is an unbiased and efficient forecast of future realized volatility. Instead, historical volatility-based forecasts are shown to contain incremental information to implied volatility, particularly for short-term forecasts. In addition, this thesis finds no evidence that directly surveyed implied volatility estimates perform better as a forecast of future volatility relative to Black’s (1976) estimates. Second, the market sensitivity to announcements about the organizational and institutional set-up of the EU ETS is re-examined. Despite their importance for the carbon price formation, demand-side announcements and announcements about the post-2012 framework have not yet been researched. By examining a very comprehensive and updated dataset of announcements, this thesis adds to the earlier works of Miclaus et al. (2008), Mansanet-Bataller and Pardo (2009) and Lepone et al. (2011). Market participants are found to rationally incorporate new information about the institutional and regulatory framework of the emissions trading scheme into the carbon price dynamics. However, they seem to be unable to accurately assess the implications of inter-temporal banking and borrowing on pricing futures contracts with different maturities. The impact of macroeconomic conditions on the market responsiveness is investigated by splitting the dataset into subsamples according to two alternative methods: 1) a simple split into pre-crisis and full-crisis time periods, and 2) according to a Bai-Perron structural break test. Evidence is found that in the context of economic slowdown and known allowances oversupply, the relationship between the carbon price and its fundamentals (institutional announcements, energy prices and extreme weather) breaks down. These findings are consistent with the arguments in Hintermann (2010), Keppler and Mansanet-Bataller (2010) and Koop and Tole (2011) that carbon price drivers change in response to the differing context of the individual trading periods. Third, the role of carbon performance in firm valuation is understudied. Since companies were not obliged to disclose their carbon emissions prior to the launch of the EU ETS, there exists little empirical evidence of the effect of carbon performance on market value. Earlier studies of the European carbon market have only focused on the impact of ETS compliance on the profitability and competitiveness of covered companies (e.g. Anger and Oberndorfer, 2008). There is also little research on how the newly available emissions data has altered the carbon performance of companies. This thesis addresses these gaps in the literature by examining the stock price reactions of British and German firms on the day of verified emissions release under the EU ETS over the period 2006 – 2011. An event study is conducted using a Seemingly Unrelated Regressions model to deal with the event clustering present in the dataset. Limited evidence is found that investors use information about the carbon performance of companies in their valuations. The information contained in the carbon emissions reports is shown to be somewhat more important for companies with high carbon-intensive operations. This thesis finds no conclusive evidence that the cap-and-trade programme has been able to provide regulated companies with enough incentives to de-carbonize their operations. The market does not punish companies which continue to emit carbon at increasing rates or reward companies which improve their carbon performance. In brief, the results of the thesis suggest that the market is not fully efficient yet. Inefficiently priced carbon options may allow for arbitrage trades in the market. The inability of investors to incorporate rules on inter-temporal banking and borrowing of allowances across the different trading periods leads to significant price reactions when there should be none. A recessionary economic environment and a known oversupply of emission allowances have led to a disconnect between the carbon price and its fundamental drivers. And, lastly, the signal embedded in the carbon price is not strong enough to invoke investor action and turn carbon performance into a standard component of investment analysis.
5

Eriksson, Andreas. "The impact of EU the emissions trading system on the price of electricity : An econometric analysis of the Nordic electricity market." Thesis, Luleå tekniska universitet, Institutionen för ekonomi, teknik och samhälle, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:ltu:diva-71421.

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The aim of this study is to examine how the EU ETS price has affected the price of electricity in the Nordic electricity market, and how future changes in the carbon price may affect the wholesale electricity prices. The Nordic countries included are Sweden, Norway, Denmark and Finland. The analysis builds on a reduced econometric model where the Nordic electricity price constitutes the dependent variable. Problem with autocorrelation implied that quarterly data rather than monthly data were used. This model is estimated using ordinary least square (OLS) regression technique. Four variables were found to be statistically significant. These include the EU ETS price, the hydro reservoir level, the coal price and the temperature. The estimated coefficients were used to conduct a simulation on what could happen if the EU ETS price increased to € 30 per ton. The results showed that the electricity price would than increase by about € 16 per MWh from its current level at about € 37 per MWh.
6

Aiyegbusi, Olufemi. "The Alberta carbon market : an exploration of alternative policy options through agent-based modeling." Thesis, Lethbridge, Alta. : University of Lethbridge, Faculty of Management, c2012, 2012. http://hdl.handle.net/10133/3434.

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Our study examines some design alternatives for a carbon market by exploring the fledgling Alberta carbon market. We attempt to evaluate the performance of these designs on the bases of trade volume, cost efficiency and stability. To achieve this we construct an empirically-calibrated but simple agent-based model, certain aspects of which we selectively modify to incorporate various design options. We make comparisons among these options based on data simulated from the ensuing family of models. We find strong evidence that in general, market design features such as source-of-credits, the scale of the market, and pricing-mechanism are very important considerations that influence the performance of the market. In addition, we find support for the notion that the level of the price cap relative to the average cost of abatement in the market matters, and beyond a threshold, higher price caps are associated with lower levels of performance.
vii, 155 leaves ; 29 cm
7

Radja, Rajni. "The economic sequestration potential of agricultural soils in Canada in response to a carbon market /." Thesis, McGill University, 2007. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=100202.

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The Canadian greenhouse gas offset system was proposed and developed with the objective of assisting Canada in achieving its Kyoto target by means of low cost emission reduction. This study estimates the potential of agricultural soils in Canada to provide carbon credits. Carbon sequestration practices such as moderate till, no-till and perennial crop activities were considered in the analysis. Crops under different tillage regimes, hay and alfalfa were also included in the study. Simulation analysis was undertaken using the Canadian Regional Agricultural Model (CRAM) for carbon prices ranging from $5 to $100/t of CO2e. Carbon credits generated as a result of the sequestration activities were estimated by endogenizing a carbon price for the sequestration activity into the CRAM model. The analysis was done regionally, provincially, and nationally. Two scenarios were investigated; one that included tillage practices and perennial crops (Policy All) and the other that only included tillage practices (Policy Till). Cropping pattern changes, carbon sequestration levels, carbon revenues, and adoption rates were estimated in the simulation. In addition, the role of transaction costs in the offset system was also examined.
The results of the simulation indicated that crop shifts towards hay and alfalfa occurred in the Policy All scenario, while practice shifts towards moderate and no-till occurred in the Policy Till scenario. Simulation analysis indicated that carbon sequestration levels vary by province and region. Among the provinces, the Prairie provinces had the highest carbon sequestration levels ranging from 50 percent under the Policy Till scenario, while under the Policy All scenario it was close to 97 percent. Nationally at a medium price of $15/t of CO2 approximately 1.08 Mt of CO2 and 0.11 Mt of CO2 were sequestered under Policy All and Policy Till scenario. When transaction costs were included in the analysis, approximately 30 to 40 percent less sequestration from the baseline was estimated. The results varied by province and region.
8

Jetté-Nantel, Simon. "Impact of a carbon market on afforestation incentives : a real option approach." Thesis, McGill University, 2006. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=98735.

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The study investigates farmers' decision to afforest marginal agricultural land to create carbon sinks in western Canada. A real option model, which incorporates price risks related to carbon and timber revenues as well as opportunity cost uncertainty, is used to assess the impact of a carbon market on farmers' afforestation decision. Irreversibility of the decision is also modeled by including sunk cost of forest establishment and the cost of reversing the afforestation process. In addition, the non-permanence impact on the profitability of afforestation was analyzed by assessing the effect of two non-permanence carbon accounting schemes.
Results indicate that both, actual non-permanence policies and the presence of real options, have a significant negative impact on afforestation incentives. However, the carbon market has a positive effect as it increases the expected revenues to afforestation and also represents a diversification opportunity. Yet, even in the presence of a carbon market the investment barrier remains considerable. Despite the positive effect of the carbon market, results show that unless carbon prices reach levels well above $100/tC a subsidization of afforestation cost is needed in order to generate substantial GHG abatement from marginal agricultural land afforestation in western Canada.
9

Dhavala, Kishore. "Essays on Emissions Trading Markets." FIU Digital Commons, 2012. http://digitalcommons.fiu.edu/etd/733.

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This dissertation is a collection of three economics essays on different aspects of carbon emission trading markets. The first essay analyzes the dynamic optimal emission control strategies of two nations. With a potential to become the largest buyer under the Kyoto Protocol, the US is assumed to be a monopsony, whereas with a large number of tradable permits on hand Russia is assumed to be a monopoly. Optimal costs of emission control programs are estimated for both the countries under four different market scenarios: non-cooperative no trade, US monopsony, Russia monopoly, and cooperative trading. The US monopsony scenario is found to be the most Pareto cost efficient. The Pareto efficient outcome, however, would require the US to make side payments to Russia, which will even out the differences in the cost savings from cooperative behavior. The second essay analyzes the price dynamics of the Chicago Climate Exchange (CCX), a voluntary emissions trading market. By examining the volatility in market returns using AR-GARCH and Markov switching models, the study associates the market price fluctuations with two different political regimes of the US government. Further, the study also identifies a high volatility in the returns few months before the market collapse. Three possible regulatory and market-based forces are identified as probable causes of market volatility and its ultimate collapse. Organizers of other voluntary markets in the US and worldwide may closely watch for these regime switching forces in order to overcome emission market crashes. The third essay compares excess skewness and kurtosis in carbon prices between CCX and EU ETS (European Union Emission Trading Scheme) Phase I and II markets, by examining the tail behavior when market expectations exceed the threshold level. Dynamic extreme value theory is used to find out the mean price exceedence of the threshold levels and estimate the risk loss. The calculated risk measures suggest that CCX and EU ETS Phase I are extremely immature markets for a risk investor, whereas EU ETS Phase II is a more stable market that could develop as a mature carbon market in future years.
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Norberg, Martina, and Ladan Sharifian. "EU:s system för handel med utsläppsrätter i Sverige : En intervjustudie om några svenska energibolags och myndigheters uppfattning och agerande." Thesis, Linköping University, The Tema Institute, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-6804.

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Den 1 januari 2005, startades det europeiska handelssystemet med utsläppsrätter. Handelssystemet avser att minska

koldioxidutsläppen inom Europa, för att fullfölja åtagandet i Kyotoprotokollet. I Sverige har flera sektorer påverkats

av handeln med utsläppsrätter bl.a. energisektorn, som står i fokus för denna studie.

Syftet med uppsatsen är att studera hur de större och mindre energibolagen samt de ansvariga myndigheterna i

Sverige uppfattar systemet för handel med utsläppsrätter. För att uppfylla syftet formulerades ett antal

frågeställningar om hur energibolagen och myndigheterna ser på handelssystemets följande områden, fördelar och

nackdelar, implementering, tilldelningsprinciper, förbättringspotential, framtida utveckling, samt om det finns några

likheter och skillnader mellan energibolagen. Detta gjordes genom intervjuer med representanter från ett urval av

svenska energibolag och ansvariga myndigheter. Resultatet av intervjuerna analyserades och jämfördes med tidigare

studier. Därefter diskuterades frågeställningarna.

Slutsatserna visar att handelssystemet anses vara ett kostnadseffektivt styrmedel. Vidare visar slutsatserna att vid

implementeringen var tidspressen det största problemet för både energibolagen och myndigheterna. Vad gäller

tilldelningsprinciper föredrar energibolagen tilldelning baserad på riktmärken, detta bl.a. då de ser problem med

uppdatering av de historiska utsläppen. När det gäller handelssystemets förbättringspotential önskar energibolagen

främst större harmonisering, längre perioder samt en förenkling av reglerna och kraven. Både energibolagen och

myndigheterna framhåller att handelssystemets framtid är väldigt osäker och att det beror mycket på vilka

internationella beslut som fattas. En skillnad som har kunnat urskiljas mellan de större och mindre energibolagen är

att de större tänker globalt på klimatproblematiken och miljön, i jämförelse med de mindre energibolagen, vars fokus

ligger på den inhemska marknaden.

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Books on the topic "Emissions trading market":

1

F, Haites Erik, United Nations Environment Programme. Division of Technology, Industry, and Economics, UNEP Collaborating Centre on Energy and Environment, and Carbon Market Programme, eds. An emerging market for the environment: A guide to emissions trading. [Roskilde, Denmark]: UNEP Collaborating Centre on Energy and Environment, 2002.

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Masuda, Masato. Haishutsuken torihiki to teitanso shakai: Kokusai haishutsuken shijō torihiki no riron to jissen = Global carbon market & low carbon society. 8th ed. Tōkyō: Chikura Shobō, 2008.

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Joskow, Paul L. Auction design and the market for sulfur dioxide emissions. Cambridge, MA: National Bureau of Economic Research, 1996.

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Association, International Emissions Trading, ed. Greenhouse gas market 2003: Emerging but fragmented. Geneva, Switzerland: International Emissions Trading Association, 2003.

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Raufer, Roger K. Acid rain and emissions trading: Implementing a market approach to pollution control. Totowa, N.J: Rowman & Littlefield, 1987.

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Raufer, Roger K. Acid rain and emissions trading: Implementing a market approach to pollution control. Totowa, N.J: Rowman & Littlefield, 1987.

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Raufer, Roger K. Acid rain and emissions trading: Implementing a market approach to pollution control. Totowa, New Jersey: Rowan & Littlefield, 1987.

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Klingenfeld, Daniel. On strategies for avoiding dangerous climate change: Elements of a global carbon market. Zürich: Lit, 2012.

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Burney, Nelson E. Carbon tax and cap-and-trade tools: Market-based approaches for controlling greenhouse gases. Hauppauge, N.Y: Nova Science Publishers, 2009.

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Burney, Nelson E. Carbon tax and cap-and-trade tools: Market-based approaches for controlling greenhouse gases. Hauppauge, N.Y: Nova Science Publishers, 2009.

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Book chapters on the topic "Emissions trading market":

1

Fichtner, Wolf. "The European electricity market – impact of emissions trading." In Emissions Trading, 121–32. New York, NY: Springer New York, 2008. http://dx.doi.org/10.1007/978-0-387-73653-2_8.

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Gagelmann, Frank. "The influence of the allocation method on market liquidity, volatility and firms’ investment decisions." In Emissions Trading, 69–88. New York, NY: Springer New York, 2008. http://dx.doi.org/10.1007/978-0-387-73653-2_5.

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Chevallier, Julien. "Intertemporal Emissions Trading and Market Power: Modeling a Dominant Firm with a Competitive Fringe." In Emissions Trading, 9–32. Berlin, Heidelberg: Springer Berlin Heidelberg, 2011. http://dx.doi.org/10.1007/978-3-642-20592-7_2.

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Nye, Michael. "Understanding business participation in UK emissions trading: dimensions of choice and influences on market development." In Emissions Trading, 235–49. New York, NY: Springer New York, 2008. http://dx.doi.org/10.1007/978-0-387-73653-2_15.

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Weidlich, Anke, Frank Sensfuß, Massimo Genoese, and Daniel Veit. "Studying the effects of CO2 emissions trading on the electricity market: A multi-agent-based approach." In Emissions Trading, 91–101. New York, NY: Springer New York, 2008. http://dx.doi.org/10.1007/978-0-387-73653-2_6.

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Wettestad, Jørgen, and Torbjørg Jevnaker. "The ETS Post-2008 Years: From Crisis and Turmoil to ‘Market Thermostat’." In Rescuing EU Emissions Trading, 37–70. London: Palgrave Macmillan UK, 2016. http://dx.doi.org/10.1057/978-1-137-56674-4_4.

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Dinther, Clemens van, Christoph M. Flath, Johannes Gaerttner, Julian Huber, Esther Mengelkamp, Alexander Schuller, Philipp Staudt, and Anke Weidlich. "Engineering Energy Markets: The Past, the Present, and the Future." In Market Engineering, 113–34. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-66661-3_7.

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AbstractSince the beginning of the energy sector liberalization, the design of energy markets has become a prominent field of research. Markets nowadays facilitate efficient resource allocation in many fields of energy system operation, such as plant dispatch, control reserve provisioning, delimitation of related carbon emissions, grid congestion management, and, more recently, smart grid concepts and local energy trading. Therefore, good market designs play an important role in enabling the energy transition toward a more sustainable energy supply for all. In this chapter, we retrace how market engineering shaped the development of energy markets and how the research focus shifted from national wholesale markets to more decentralized and location-sensitive concepts.
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Kuch, Declan. "The Rise of Emissions Trading as a Market Mechanism and the Promise of ‘Civilized Markets’." In The Rise and Fall of Carbon Emissions Trading, 13–28. London: Palgrave Macmillan UK, 2015. http://dx.doi.org/10.1057/9781137490384_2.

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López-Vallejo, Marcela. "Non-additionality, Overestimation of Supply, and Double Counting in Offset Programs: Insight for the Mexican Carbon Market." In Springer Climate, 191–221. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-82759-5_10.

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AbstractMexico utilizes an emissions trading system as one of its carbon pricing instruments. Mexico’s planning, like that of other countries, includes flexible mechanisms such as offsets. Offsets allow market participants to compensate for their emissions through mitigation projects. Offsetting via participation in the Clean Development Mechanism and Joint Implementation was fundamental to the Kyoto Protocol. In contrast, the Paris Agreement is ambiguous about its use. Other national or regional offset programs, such as the EU, Australia, New Zealand, Japan, or Korea, work within emission trading systems. Subnationally, the California-Quebec program has been in effect since 2014. As Greenhouse Gases (GHGs) are global, offsetting allows market participants to compensate for their emissions through mitigation projects, whether domestically or abroad. Given their global scope, such programs present a wide variability in quality. This chapter presents an overview of offset programs worldwide and argues that non-additionality, overestimated supply, and double counting are their three most pressing quality problems. This analysis sheds light upon the nascent Mexican system and its offset program.
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Sosa-Nunez, Gustavo. "Relationship Between Emissions Trading System and the 2030 Agenda for Sustainable Development." In Springer Climate, 285–303. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-82759-5_14.

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AbstractWith the Paris Agreement and through Nationally Determined Contributions, nation-states have agreed to reduce their emissions of greenhouse gases. Some of them have approached this aspect by setting emission trading systems. In some cases, it is in the regional and sub-national levels where these types of developments are taking place. The relevance of this market-based instrument is increasing over time, to the point of being regarded as a cornerstone of climate change mitigation strategies, despite the lack of global agreement on the matter. The importance of emission trading systems, however, can be observed when assessing their relevance for achieving the 2030 Agenda for Sustainable Development. Implementing them can, and should, assist in reaching diverse targets of different Sustainable Development Goals. This is the case of the goals related to energy, economic growth, inclusive industrialization, sustainable cities, sustainable production and consumption patterns, marine and land life, as well as the climate itself. Then, the relevance of emission trading systems can be observed throughout the whole 2030 Agenda. It is thus in this context that this contribution aims to assess the manner in which this relationship takes place in the global fora and in Mexico. A key argument is that there should be the participation of a wider set of sectors and actors.

Conference papers on the topic "Emissions trading market":

1

Narin, Müslüme. "Flexible Mechanisms of the Kyoto Protocol: Emissions Trading." In International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00770.

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The growth of the world economy, rapid population growth and urbanization increased the demand for energy. Nowadays, a large part of the growing demand for energy provided by fossil fuels, carbon dioxide and greenhouse gas emissions resulting from the burning of these fuels leading to climate change and global warming. Reduction of greenhouse gas emissions in 1994 to the United Nations Framework Convention on Climate Change, the Kyoto Protocol entered into force in 2005. The Kyoto Protocol, emission volume of the three market-based flexibility mechanisms have to be considered. One of these mechanisms is emissions trading. This study will focus on emissions trading systems and carbon markets. All over the world in recent years, based on the spot and futures contracts are traded on the carbon. In this direction of the world's carbon stocks and its activities will be discussed. Also in 2008, in the aftermath of the global crisis and European Debt Crisis its effects on carbon markets will be investigated.
2

Haoyun Zhu and Xu Chen. "Market-Decision Coupling Model based on emissions trading." In 2012 International Conference on Computer Science and Information Processing (CSIP). IEEE, 2012. http://dx.doi.org/10.1109/csip.2012.6308895.

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Zhang, Qing. "Research on Carbon Emissions Trading System in Electricity Market." In 2016 2nd International Conference on Economics, Management Engineering and Education Technology (ICEMEET 2016). Paris, France: Atlantis Press, 2017. http://dx.doi.org/10.2991/icemeet-16.2017.24.

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Ito, Mari, and Ryuta Takashima. "Market Power in Emissions Trading and Renewable Energy Policy." In 8th International Conference on Operations Research and Enterprise Systems. SCITEPRESS - Science and Technology Publications, 2019. http://dx.doi.org/10.5220/0007470300002104.

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Ito, Mari, and Ryuta Takashima. "Market Power in Emissions Trading and Renewable Energy Policy." In 8th International Conference on Operations Research and Enterprise Systems. SCITEPRESS - Science and Technology Publications, 2019. http://dx.doi.org/10.5220/0007470304290434.

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Zheng, Dujuan. "Driver Analysis of Trading Price Volatility in Carbon Emissions Market." In 2014 International Conference on Mechatronics, Electronic, Industrial and Control Engineering. Paris, France: Atlantis Press, 2014. http://dx.doi.org/10.2991/meic-14.2014.105.

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Kockar, Ivana, Antonio J. Conejo, and James R. McDonald. "Influence of emissions trading scheme on market clearing and prices." In Energy Society General Meeting (PES). IEEE, 2009. http://dx.doi.org/10.1109/pes.2009.5275425.

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Ren, Chengli. "Carbon Emissions Trading Market Mechanism Design: Perspectives of Legal Economics." In 2021 International Conference on Social Development and Media Communication (SDMC 2021). Paris, France: Atlantis Press, 2022. http://dx.doi.org/10.2991/assehr.k.220105.222.

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Cheng, Frank, Yagil Engel, and Michael P. Wellman. "Cap-and-Trade Emissions Regulation: A Strategic Analysis." In Twenty-Eighth International Joint Conference on Artificial Intelligence {IJCAI-19}. California: International Joint Conferences on Artificial Intelligence Organization, 2019. http://dx.doi.org/10.24963/ijcai.2019/27.

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Cap-and-trade schemes are designed to achieve target levels of regulated emissions in a socially efficient manner. These schemes work by issuing regulatory credits and allowing firms to buy and sell them according to their relative compliance costs. Analyzing the efficacy of such schemes in concentrated industries is complicated by the strategic interactions among firms producing heterogeneous products. We tackle this complexity via an agent-based microeconomic model of the US market for personal vehicles. We calculate Nash equilibria among credits-trading strategies in a variety of scenarios and regulatory models. We find that while cap-and-trade results improves efficiency overall, consumers bear a disproportionate share of regulation cost, as firms use credit trading to segment the vehicle market. Credits trading volume decreases when firms behave more strategically, which weakens the segmentation effect.
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Chudy, Dawid, and Waadysaaw Mielczarski. "Impact of Emissions Trading System on the Operation of Electricity Supply Industry." In 2019 16th International Conference on the European Energy Market (EEM). IEEE, 2019. http://dx.doi.org/10.1109/eem.2019.8916522.

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Reports on the topic "Emissions trading market":

1

Rickels, Wilfried. Database and report on currently already existing or announced ocean NETs projects, including a world map of projects. OceanNets, August 2022. http://dx.doi.org/10.3289/oceannets_d1.8.

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Emissions trading systems (ETS) and markets usually do not allow for the inclusion of carbon dioxide removal (CDR) activities and if they do, removal activities are primarily restricted to afforestation. The New Zealand emission trading system (NZ ETS), for examples, integrates afforestation, and the California Low-Fuel Standard, the Quebec ETS and the Chinese ETS permit the restricted inclusion of afforestation offsets. Furthermore, the California Low-Carbon Fuel Standard System allows for the inclusion of removal via Direct Air Capture. In combination with the 45Q tax credit program, the largest incentives for CDR via Negative Emissions Technologies (NETs) are currently provided in the US. However, both do not yet allow for the inclusion of ocean-based carbon removal. Hence, we provide first a brief overview about the NZ ETS and its inclusion of afforestation, pointing out that the concept will likely not be applicable to ocean-based CDR with the potential exemption of blue carbon projects. Second, we discuss the 45Q tax credit program, the California Low-Fuel Standard System, and the California Compliance Offset Scheme. Third, we provide an overview about the company database related to ocean-based carbon removal. Fourth, we briefly look at the voluntary carbon market, providing some insights for carbon removal accounting.
2

Rickels, Wilfried. Economic benefit of regional ocean carbon uptake. EuroSea, 2023. http://dx.doi.org/10.3289/eurosea_d7.5.

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Currently, the ocean carbon sink annually removes about a third of anthropogenic fossil fuel and industrial CO2 emissions, reducing therefore climate change damages and CO2 abatement costs. While the land sinks have entered climate policies, the ocean sink has not—for good reasons since the former stores carbon within the boundaries of a state while the ocean removes carbon from the atmosphere rather in its property as a global common. However, the question remains what is the value of the ocean carbon sink and should it be differently attributed when comparing a coastal state with a large exclusive economic zone (EEZ) compared to landlocked state. Here, we demonstrate different approaches to value the ocean sink, comparing a climate-change damage-based approach with an abatement, market-based approach. We use a high-resolution carbon flux dataset (0.25x0.25 degree) to estimate the ocean carbon sink and source in coastal areas. We assign a net sink of 1.72 GtC proportional to countries with negative carbon fluxes in their EEZ. In our calculation the annual value of the global ocean sink ranges from 61.19 B USD (Std 31.80), equivalent to the 2021 GDP of Slovenia, to 1433 B USD (Std 94.30), equivalent to the 2021 GDP of Spain (World Bank data) for the abatement cost-based assessment approach (assuming full emission trading and low ambition levels in the national determined contribution) and for the climate-change damage-based assessment approach relying on an upper value of the social cost of carbon in our investigation. By breaking down the carbon sink by nations EEZ we estimate which countries are the largest donors of ocean carbon wealth and which countries would be affected the most if a weakening of the ocean sink would need to be compensated by higher emission reduction levels. (EuroSea Deliverable, D7.5)
3

Fowlie, Meredith, Stephen Holland, and Erin Mansur. What Do Emissions Markets Deliver and to Whom? Evidence from Southern California's NOx Trading Program. Cambridge, MA: National Bureau of Economic Research, June 2009. http://dx.doi.org/10.3386/w15082.

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Zholdayakova, Saule, Yerdaulet Abuov, Daulet Zhakupov, Botakoz Suleimenova, and Alisa Kim. Toward a Hydrogen Economy in Kazakhstan. Asian Development Bank Institute, October 2022. http://dx.doi.org/10.56506/iwlu3832.

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The energy transition is driving governments and industries to adopt various measures to reduce their climate impacts while maintaining the stability of their economy. Hydrogen technologies are one of the central topics in the energy transition. Different nations have different stances on it. Some governments see hydrogen as a decarbonization tool or part of their energy security strategy, while some others see it as a potential export commodity. While identifying priorities for the future, Kazakhstan should clearly define the role of hydrogen in the country’s long-term energy and decarbonization strategy. This work presents the first country-scale assessment of hydrogen technologies in Kazakhstan by focusing on policy, technology and economy aspects. A preliminary analysis has shown that Kazakhstan should approach hydrogen mainly as a part of its long-term decarbonization strategy. While coping with the financial risks of launching a hydrogen economy, the country can benefit from the export potential of low-carbon hydrogen in the near term. The export potential of low-carbon hydrogen in Kazakhstan is justified by its proximity to the largest hydrogen markets, huge resource base, and potentially low cost of production (in the case of blue hydrogen). Technology options for hydrogen transportation and storage for Kazakhstan are discussed in our work. The paper also identifies target hydrogen utilization areas in emission sectors regulated by Kazakhstan’s Emissions Trading System.
5

Market power and market access in International GHG emissions trading. Organisation for Economic Co-Operation and Development (OECD), January 2000. http://dx.doi.org/10.1787/d09b424e-en.

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Market access issues in international GHG emissions trading. Organisation for Economic Co-Operation and Development (OECD), January 2000. http://dx.doi.org/10.1787/4cdaef9a-en.

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Linking GHG emission trading schemes and markets. Organisation for Economic Co-Operation and Development (OECD), January 2006. http://dx.doi.org/10.1787/825759b6-en.

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