The EU ETS is unprepared for 2040 and beyond
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F25%3A00637971" target="_blank" >RIV/67985998:_____/25:00637971 - isvavai.cz</a>
Výsledek na webu
<a href="https://www.cerge-ei.cz/pdf/wp/Wp799.pdf" target="_blank" >https://www.cerge-ei.cz/pdf/wp/Wp799.pdf</a>
DOI - Digital Object Identifier
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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
The EU ETS is unprepared for 2040 and beyond
Popis výsledku v původním jazyce
The central instruments of a cap-and-trade program are its abatement schedule and a system of guardrails designed to prevent permit prices from becoming excessively high or low. I argue that these instruments are currently poorly aligned in the EU’s cap-and-trade flagship climate policy, the EU ETS. I argue that the abatement schedule risks being overly ambitious and that the ETS’ existing guardrails, the Market Stability Reserve (MSR), do not offer sufficient protection against extreme prices. This misalignment may result in substantial economic costs and could ultimately undermine public support for the ETS. This paper recommends consideration of more effective guardrails, such as the well-established the price collar as implemented in California’s cap-and-trade program.
Název v anglickém jazyce
The EU ETS is unprepared for 2040 and beyond
Popis výsledku anglicky
The central instruments of a cap-and-trade program are its abatement schedule and a system of guardrails designed to prevent permit prices from becoming excessively high or low. I argue that these instruments are currently poorly aligned in the EU’s cap-and-trade flagship climate policy, the EU ETS. I argue that the abatement schedule risks being overly ambitious and that the ETS’ existing guardrails, the Market Stability Reserve (MSR), do not offer sufficient protection against extreme prices. This misalignment may result in substantial economic costs and could ultimately undermine public support for the ETS. This paper recommends consideration of more effective guardrails, such as the well-established the price collar as implemented in California’s cap-and-trade program.
Klasifikace
Druh
O - Ostatní výsledky
CEP obor
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OECD FORD obor
50202 - Applied Economics, Econometrics
Návaznosti výsledku
Projekt
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Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2025
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů