The emission right trade is an instrument of the environmental policy with the goal of the climatic protection. It relies on the Coase theorem and from Harold the-sets described.

Philosophy and theory

A goal of the emission right trade is global of emissions given quantitatively by the policy more harmful, spaciously working economically as efficient a distribution as possible as necessarily judged reduction or. This instrument is used today in particular for reduction climaticeffective greenhouse gases, is however applicable in principle to each kind of pollutant emission.

For this the enterprises concerned by the state or an authority tradable emission certificates are spent to, which entitle these in each case for a certain emission quantity (e.g. a ton of CO2). The total quantity of the spent certificates for a certain period is fixed thereby (so-called covering) and thereby in accordance with the emission reduction which can be reached is specified. The certificates can be acted between the enterprises freely, whereby the price is determined according to the free market by supply and demand. In the English linguistic usage one speaks also of "cap and trade".

Each enterprise can decide whether it e.g. buys to go with certificates or alternatively invested in measures for emission reduction. Enterprises, which need more certificates, must buy it from other enterprises, which need less, because they fulfilled their reduction obligation already large. It is thus released to the enterprises, how quickly or slowly they want to fulfill and the associated technical conversions into their other innovation plans fit their reduction obligations in.

In accordance with the theory thereby the emission reduction will take place as the first, where this is lowest-priced possible and so long with increasing prices continued, until the demanded emission reduction is reached; thus the reduction to the lowest possible overall economic costs is reached.

The expenditure of the certificates can take place in form of an auction, in addition, a free dispatching. In the latter case thereby a certain distributor must be specified, itself oriented at the past emissions of the enterprises usually. Also combinations are conceivable. From view of the economic theory the kind of the expenditure for certificate is insignificant for functioning the instrument.

Therefore an emission goal with substantially lower overall economic costs can be achieved in principle, than this by order-legal defaults or taxes (e.g. the so-called Pigou tax) would be possible with the help of the emission trade.

The actual effectiveness and efficiency of the instrument depend however also strongly on the concrete arrangement.

Originally the emission trade relies on the Coase theorem, which treats the Internalisierung of negative external effects, as by negative effects concerning are included into a commercial system. Such a commercial system represents an efficient means to internalisieren the negative external effects of goods, which the excluding barness is not subject, by availing oneself of the efficient distribution under utilization of the effects of the market. Ronald Coase was distinguished for these and other achievements 1991 with the Nobelpreis for economics.

The Internalisierung in this sense is not however in the today usual commercial systems carried out, there the actual external ones costs (e.g. the subsequent costs of the climatic change) not is included into the trade. Thus a misunderstanding would be to be accepted that emission causers with the acquisition of the certificates would be responsible for the public developing the subsequent costs. At the market the screen end certificate price actually illustrates only the economical costs of reaching the given emission goal and states themselves nothing over the height of the subsequent costs of the remaining emissions.

Conversion in Kyoto minutes

In Kyoto minutes the signing industrialized countries informed themselves on a world-wide reduction of the emissions about greenhouse gases around 5,2% opposite 1990. In order to limit the influence of the varying weather with the examination of the Zielerreichung, as a goal period 2008-2012 (means) one specified. The European union joined additionally to the individual member states also and ready explained themselves to reduce their emissions of greenhouse gases around 8% (approx. 0.35 billion tons) opposite 1990. This reduction goal is differently distributed on the individual member states of the European community (burden sharing). Germany carries the main load with approximately 75% of the European reduction goal and must its greenhouse gas missions by 21% opposite 1990 reduce. In accordance with kind 3 exp. 8 of Kyoto minutes selected Germany for wasserstoffhaltige fluorocarbons (H-FKW), by-fluoridated hydrocarbons (FKW) and sulfur hexafluoride (SF6) the base year 1995.

For reaching the climatic protection goals since 13 November 2004 the valid "Linking Directive apply for "three flexible mechanisms with. Joint implementation (JI) permits to industrialized countries (annex B countries), to accomplish among themselves climatic protection projects on co-operation basis during one by Clean development Mechanism (CDM) the promotion of certain projects in developing countries (not annex B countries) to be taken into account be able can. The third and most popular instrument, is emission the Trading in such a way specified (ET).

In Kyoto minutes no obligation is written down to the emission trade, since a global trade is not yet possible for the moment.

The European Union emission trade

European-wide an emission right commercial system (European Union - ETS emission Trading Scheme) for CO2 and other climaticeffective gases was introduced on 1 January 2005 (partly with some delays).

, Thus not yet five the others of Kyoto minutes greenhouse gases, and only one part of the European causers of CO2-Emissionen seized the commercial system only CO2 seized for the time being. These are combustion plants (in particular power stations), oil refineries, coke ovens, iron and steel plants as well as plants of the cement, glass, lime, brick, ceramic(s), cellulose and paper industry. These constitute together taken scarcely half of the European-wide CO2-Emissionen.

The first commercial period (or commercial period) runs from 2005 to 2007. Second runs from 2008 to 2012 and collapses with it with the obligation period of Kyoto minutes, to which the emission goals refer. Starting from the 2. The member states also different greenhouse gases can take up period to the trade.

Concerning the assignment of the emission authorizations a relatively large clearance was granted to the individual member states. The distribution of the certificates is specified individually for each commercial period national (NAP), so mentioned by each country in. Since the emission trade seizes only certain sectors, the individual countries can specify also the total quantity of the spent authorizations within certain limits. However the European Union commission requires the adherence to certain criteria, among other things that the spent quantity permits "a reaching of the goals specified in Kyoto minutes". Other criteria e.g. concern the equal treatment of enterprises and the adherence to EU-Wettbewerbsrechts.Die the NAP for the 1. Commercial period were put to 2004 firmly, the plans for the 2. Commercial period must be delivered and become to 30 June 2006 to time discussed.

The ouple guideline (Linking Directive, 2004/101/EG) links the European Union emission trade with the other flexible mechanisms of Kyoto minutes. If enterprises in other countries carry out projects for emission reduction and thus in the framework the Joint implementation (JI, projects in annex B countries) and/or the Clean emission credit notes acquire development Mechanism (CDM, projects in not annex B countries, v.a. developing countries), they can convert these into emission certificates. To CDM this applies already in the first commercial period, to JI only starting from 2008 (2. Commercial period). The individual countries specify upper limits for the application of these mechanisms.

Source: European Union, questions and answers to the emission trade and to the national allocation schemes, European Union guideline 2003/87/EG.

Articles in category "Emission right trade"

We found here 18 articles.