Act Locally, Trade Globally: Emissions Trading for Climate PolicyInternational Energy Agency, 2005 - 234 pages Climate policy raises a number of challenges for the energy sector, the most significant being the transition from a high to a low-CO2 energy path in a few decades. Emissions trading has become the instrument of choice to help manage the cost of this transition, whether used at international or at domestic level. Act Locally, Trade Globally, offers an overview of existing trading systems, their mechanisms, and looks into the future of the instrument for limiting greenhouse gas emissions. |
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Page 14
... avoid countries competing to offer better investment conditions to industry at the expense of least - cost GHG mitigation . At the same time , industrial energy users worry about the cost of meeting their cap and the rising cost of ...
... avoid countries competing to offer better investment conditions to industry at the expense of least - cost GHG mitigation . At the same time , industrial energy users worry about the cost of meeting their cap and the rising cost of ...
Page 212
... avoid facing unnecessary uncertainties on mitigation costs - this will also help establish the long term price that investors need in order to make sound decisions . But there is no silver bullet that can bring institutional capacity ...
... avoid facing unnecessary uncertainties on mitigation costs - this will also help establish the long term price that investors need in order to make sound decisions . But there is no silver bullet that can bring institutional capacity ...
Page 213
... avoid overspending here when money would deliver more reductions in greenhouse gases there . Extending domestic trading beyond industry and the power sector should be explored and if deemed effective , policymakers will have to convince ...
... avoid overspending here when money would deliver more reductions in greenhouse gases there . Extending domestic trading beyond industry and the power sector should be explored and if deemed effective , policymakers will have to convince ...
Contents
Executive Summary | 11 |
List of boxes | 22 |
List of tables | 23 |
Copyright | |
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Common terms and phrases
AAUS abatement costs annual assigned amount auction aviation banking baseline benefits BROADENING AND DEEPENING cap-and-trade car manufacturers carbon fund carbon market carbon price carbon tax CDM projects CERS clean development mechanism climate change climate policy CO₂ emissions commitment period competition compliance cover coverage credits developing countries domestic emissions trading dynamic targets electricity emission allowances emission reductions emissions trading scheme emissions trading system entities entrants environmental ERUS EU ETS EUAS European European Commission fossil fuel GHG emissions global greenhouse gas emissions implementation incentives industrialised countries industry installations intensity targets international emissions trading investment KYOTO PROTOCOL MECHANISMS linking marginal cost market liquidity methodologies million MtCO₂e non-binding targets opportunity cost options participation plants policy makers potential price cap price of carbon price signal production programme reduce emissions registry relative require risk sectors TARGETING SOURCES tonne transactions transport uncertainty UNFCCC units vehicle World Bank