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Paying the Carbon Price

The Subsidisation of Heavy Polluters under Emissions Trading Schemes

Elena de Lemos Pinto Aydos

Paying the Carbon Price analyses the practice of freely allocating permits in Emissions Trading Schemes (ETSs) and demonstrates how many heavy polluters participating in ETSs are not yet paying the full price of carbon. This innovative book provides a framework to assist policymakers in the design of transitional assistance measures that are both legally robust and will support the effectiveness of the ETSs whilst limiting negative impacts on international trade.
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Chapter 3: Real world emissions trading schemes: challenges and lessons learnt

The Subsidisation of Heavy Polluters under Emissions Trading Schemes

Elena de Lemos Pinto Aydos

Extract

Chapter 3 introduces the three case studies, that is, the European Union Emissions Trading System (EU ETS), the New Zealand Emissions Trading Scheme (NZ ETS) and the Australian Carbon Pricing Mechanism (AUS CPM). The chapter provides the reader with a basic understanding of the key elements of each ETS, such as the coverages, emissions caps, governance regimes and links with other schemes. It also reflects on the main achievements and challenges particular to each scheme. For example, the significant problems with surplus emissions permits experienced by the EU ETS, the process that led to the repeal of the CPM in Australia and the distinctiveness of the NZ ETS, which has been resilient and stable, despite significant changes in the country’s approach towards international climate change negotiations. Keywords: European Union Emissions Trading System (EU ETS) – New Zealand Emissions Trading Scheme (NZ ETS) – Australian Carbon Pricing Mechanism (AUS CPM)

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