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E-raamat: European Emission Trading System and Its Followers: Comparative Analysis and Linking Perspectives

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European Emission Trading System and Its Followers: Comparative Analysis and Linking PerspectivesSuurem pilt
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Given the rapid spread of ETSs in an increasing number of countries and the important role that they are likely to play for the success or failure of the environmental policy in the years to come, this book provides an interdisciplinary analysis of the EU ETS from both the legal and economic perspectives comparing it with the other main ETSs existing worldwide, in order to assess whether the EU ETS has truly represented a prototype for the other ETSs established around the world and to investigate the current perspectives for linking them in the future.
Through the years, the EU ETS has progressively gained a paramount position within the EU environmental policy and climate change legislation and currently represents the most striking flagship in this sector, with more than 11.000 installations covered by the scheme. In parallel, the EU ETS has paved the way for the establishment of many other ETSs in several other jurisdictions. Such schemes are now recognized worldwide as the “cornerstones” of the climate change policy. 

1 The EU ETS: The Pioneer---Main Purpose, Structure and Features
1(28)
1.1 Introduction
1(1)
1.2 The Current EU ETS Legislative Framework
2(1)
1.3 EU ETS Purpose and Scope
3(1)
1.4 The Actors of the EU ETS: The Duties of the Operators and of the Participating States and the Sanctions Against Non-compliant Operators
4(2)
1.5 Allocation Regime and Validity of the European Union Allowances
6(4)
1.5.1 General Rules for Allocation of EUAs
6(1)
1.5.2 The EU-Wide Cap for Stationary Installations and for Aircraft Operators
6(1)
1.5.3 The Allocation Rules for EUAs to Stationary Installations
7(1)
1.5.4 The Benchmarks and the Special Regime for Manufacturing and Risk of Carbon Leakage
8(2)
1.6 The New Entrants Reserve (NER) and the NER300 Programme
10(1)
1.7 Article 27 of the EU ETS Directive: The Exclusion of Small Installations
11(2)
1.8 The Auctioning Regime
13(3)
1.8.1 The Rules on Timing, Administration and Other Aspects of the Auctioning of GHG Emission Allowances According to EC Directive 2003/87 and EC Regulation 1031/2010
13(2)
1.8.2 The Auction Revenues
15(1)
1.9 The Union Registry
16(1)
1.10 Carbon Pricing
17(5)
1.11 Incentives to Eco-Innovation and Technological Effectiveness
22(2)
1.12 Back-Loading and Proposals for Other Structural Reforms of the EU ETS
24(5)
References
26(3)
2 California, RGGI, Quebec: The Followers
29(42)
2.1 The California Cap and Trade Scheme
29(15)
2.1.1 Introduction
29(1)
2.1.2 The California ETS: Main Scope, Purpose, Structure and Features
30(1)
2.1.3 Duties of the Covered Entities and Competences of the California Air Resource Board (CARB) Executive Officer
31(2)
2.1.4 Sanctions Against Non-compliant Entities
33(1)
2.1.5 The Allocation Regime of the California Allowances
33(5)
2.1.6 The California Instruments Tracking System (CITSS)
38(1)
2.1.7 Carbon Pricing
38(1)
2.1.8 Auction Revenues and Incentives to Environment-Friendly Technologies
39(2)
2.1.9 Compliance Cost Assessment
41(2)
2.1.10 Environmental Performance: Preliminary Evaluation
43(1)
2.2 The Regional Greenhouse Gas Initiative (RGGI)
44(17)
2.2.1 Introduction
44(1)
2.2.2 The RGGI: Main Scope, Purpose, Structure and Features
45(1)
2.2.3 Duties of the Covered Operators and Competences of the Regulatory Agency
45(3)
2.2.4 Sanctions Against Non-compliant Operators
48(1)
2.2.5 The Allocation Regime of the RGGI Allowances
48(3)
2.2.6 The RGGI CO2 Allowance Tracking System (COATS)
51(1)
2.2.7 Carbon Pricing
51(6)
2.2.8 Auction Revenues and Incentives to Environment-Friendly Technologies
57(1)
2.2.9 Compliance Cost Assessment
58(2)
2.2.10 Environmental Performance: Preliminary Evaluation
60(1)
2.3 The Quebec Cap and Trade System
61(10)
2.3.1 Introduction
61(1)
2.3.2 The Quebec Cap and Trade: Main Scope, Purpose, Structure and Features
61(1)
2.3.3 Duties of the Covered Operators and Competences of the Ministry for the Environment of Quebec
62(1)
2.3.4 Sanctions Against Non-compliant Operators
63(1)
2.3.5 The Allocation Regime of the Quebec Allowances
64(2)
2.3.6 The Quebec Compliance Instrument Tracking System Service (CITSS)
66(1)
2.3.7 Carbon Pricing
67(2)
References
69(2)
3 Comparing the EU ETS with Its Followers
71(20)
3.1 Introduction
71(1)
3.2 Evolution of the Emission Trading Schemes
72(1)
3.3 The EU ETS: Lessons Learnt
73(5)
3.4 The EU ETS, Eco-Innovation and Environmental Effectiveness: Early Experiences
78(2)
3.5 The Other ETSs: Differences and Similarities
80(5)
3.6 A Few Emerging Trends from the Comparative Analysis
85(2)
3.7 Conclusions
87(4)
References
88(3)
4 Linking Emission Trading Schemes
91(18)
4.1 Introduction
91(1)
4.2 Exploring Different Types of Linking
92(2)
4.3 The Proper Legal Framework for Linking
94(1)
4.4 Linking ETSs: Main Drivers, Pros and Cons
95(2)
4.5 Linking ETSs: Necessary and Optional Features
97(5)
4.5.1 Necessary Features
97(2)
4.5.2 Optional Features
99(3)
4.6 Options for Linking: A Critical Assessment
102(5)
4.6.1 Option 1: A Global Single ETS
102(2)
4.6.2 Option 2: A Multilateral Agreement Among Regional/Domestic ETS Regimes
104(1)
4.6.3 Option 3: One or More Bilateral Agreements Between Regional/Domestic ETSs
105(2)
4.7 Beyond Linking? Risks and Opportunities of the ETS Financialisation
107(1)
4.8 Conclusions
108(1)
References 109
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