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Emissions trading: decades of existence. Big Future?

Panel: Panel 5. Market-based instruments

Author:
Popovych Olena, Energy Centre Bratislava

Abstract

In this paper I attempt to make a short overview of the existing emissions trading (ET) systems as well as the ones under preparation. First, the historic insight of emission trading systems origin is presented. It is shown how the US Environmental Protection Agency moved from credit-based systems to allowance based Acid Rain Program, which is currently world-known successful program. Further, the case of the Slovak SO2 emission trading system and greenhouse gases emissions trading in Denmark and the United Kingdom (UK) are described. Lessons learned that should be incorporated into the future emission trading systems, in particular, into EU CO2 ET system scheduled to begin in 2008, are emphasised. In the paper I argue that ET is an efficient market-based instrument to tackle environmental problems by stimulating implementation of energy efficient, renewable energy and clean fossil projects.

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