Climate Innovation Impact of the EU Emission Trading Scheme and Danish companies
Author
Madsen, Lars
Term
4. Term
Publication year
2012
Submitted on
2012-09-10
Pages
73
Abstract
Dette projekt undersøger, hvordan EU’s kvotehandelssystem for drivhusgasser (EU ETS) påvirker danske virksomheder. Fokus er på, hvordan forskellige tildelingsmetoder – altså måden, virksomheder får tildelt emissionskvoter – påvirker deres strategier og vilje til at reducere udledninger. Vi spørger, hvordan valget af tildelingsmetode påvirker EU ETS’ evne til at motivere danske virksomheder til at nedbringe drivhusgasudledninger. Undersøgelsen bygger på et spørgeskema sendt til 68 virksomheder, hvoraf 29 svarede. Analysen har to dele. Del 1 ser på effekterne af grandfathering i systemets første to perioder, hvor kvoter i høj grad blev tildelt ud fra historiske udledninger. Del 2 ser på de forventede effekter af en mere restriktiv benchmarking-tildeling i den tredje periode fra 2013, hvor kvoter i højere grad afhænger af fastsatte effektivitetsstandarder. Resultaterne viser, at EU ETS påvirker danske virksomheder: De deltager i kvotehandel og investerer i at reducere udledninger. Men i sin daværende udformning var systemet ikke nok til at udløse større ændringer i den anvendte produktionsteknologi. Analysen peger også på, at overgangen til en strengere benchmarking-tildeling fra 2013 for nogle virksomheder ikke forventes at ændre adfærden markant. Derfor kan der være behov for supplerende virkemidler og støtteordninger, hvis man vil fremme skift til mindre CO2-intensiv teknologi.
This thesis examines how the European Union Emissions Trading System (EU ETS) affects Danish companies. In particular, it looks at how different allocation methods—how emission allowances are given to firms—shape corporate strategies and incentives to cut emissions. The guiding question is how the choice of allocation method influences the EU ETS’s ability to encourage Danish companies to reduce greenhouse gas emissions. The study is based on a survey sent to 68 companies, with 29 responses. The analysis has two parts. Part 1 assesses the effects of grandfathering in the first two phases of the EU ETS, in which allowances were largely allocated based on past emissions. Part 2 examines the expected effects of a stricter benchmarking allocation in the third phase from 2013, where allowances depend more on performance standards. Findings indicate that the EU ETS does influence Danish companies: they trade allowances and invest in emission reductions. However, in its then-current form, the system was unlikely to trigger major changes in the production technologies companies use. The analysis also suggests that, for some companies, the shift to stricter benchmarking from 2013 would not significantly change behavior toward the EU ETS. Complementary policies and support measures are therefore needed to encourage adoption of lower-carbon technologies.
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