Policy-making under uncertainty: Commentary upon the European Union Emissions Trading Scheme

Haar, Laura; Haar, Lawrence

doi:10.1016/j.enpol.2005.07.003

Cited by 27 publications

(10 citation statements)

References 12 publications

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“…This is not surprising given the fact that we analysed a broad sample that included firms from a wide variety of sectors. Emissions trading particularly applies to energy-intensive industries and the EU-ETS has the intention to specifically incite these industries to change their activities in a way that produces less emissions (Haar and Haar, 2006 show resemblance with similar strategies that have already been identified in the literature (see Suchman, 1995;Oliver, 1991). The first strategy is to conform to institutional pressures and accept the institution as it is.…”

Section: A Framework For Strategic Respo Ses To Emissio S Tradi Gmentioning

confidence: 99%

Multinational Corporations and Emissions Trading:

Pinkse

Kolk

2007

European Management Journal

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Section: A Framework For Strategic Respo Ses To Emissio S Tradi Gmentioning

confidence: 99%

Multinational Corporations and Emissions Trading:

Pinkse

Kolk

2007

European Management Journal

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“…Of the top 13 firms rated in 691 Strategic Opportunities by Ceres (Table 3) (Aulisi et al, 2005). The European Union 714 and some environmental organizations had 715 expressed early concerns that highly flexible trading 716 systems would raise problems regarding conditional-717 ity and verification, enabling companies and coun-718 tries to evade their responsibilities through creative 719 accounting and buying carbon credits of dubious ori-720 gin (Haar and Haar, 2006). By 2006, however, the 721 European Trading System accounted for 62% of the 722 volume and over 80% of the value of total carbon 723 trading worldwide, estimated by market analyst 724 Point Carbon at €22.5 billion for 1.6 billion tonnes 725 of carbon dioxide equivalent.…”

mentioning

confidence: 99%

North American business strategies towards climate change

Jones¹

2008

Strategic Direction

109

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Business has become a key part of the fabric of global environmental governance, considered here as the network which orders and regulates economic activity and its impacts. We argue that businesses generally are willing to undertake limited measures consistent with a fragmented and weak policy regime. Further, the actions of businesses act to create, shape and preserve that compromised regime. We examine three types of indicators of business responses in North America: ratings by external organizations, commitments regarding emissions, and joint political action. We find business response to be highly ambiguous, with energetic efforts yielding few results.

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“…The common solution -financial support mechanisms for RE-has led to many issues and problems. The alternative of putting a price on CO2 and changing the merit order of dispatchable electricity generation has been attempted but, for many reasons, has been unsuccessful (Haar and Haar, 2006).…”

Section: Support Mechanisms and Instruments For Rementioning

confidence: 99%

An Option Analysis of the European Union Renewable Energy Support Mechanisms

Haar¹,

Haar²

2017

EEEP

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We examine the economic efficiency of incentive mechanisms used to promote Renewable Energy (RE) across the European Union (EU) by looking at returns to investors along with any negative externalities or social costs. Using electricity price data from 2009 to 2013, we evaluate the RE support mechanisms adopted by some of the largest EU economies. We explain the limitations of various metrics used to inform incentives for RE and propose an alternative metric reflecting investor requirements. Our results show that while the EU schemes were effective in delivering RE capacity, the incentives provided were overly generous and economically inefficient. To assess the indirect costs of RE in liberalized electricity markets we employ real option theory to quantify the costs of hedging and pricing the exposure faced by conventional fossil fuel generators required to accept RE under dispatch priority. We find that the cost of hedging against random RE output under dispatch priority is expensive while increasing RE in liberalized markets, by depressing prices and increasing price volatility, may place greater burden on conventional, dispatchable generators. As support for RE is presented as a public good, we argue that economically efficient RE support mechanisms require recognizing both their direct and indirect costs.

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Policy-making under uncertainty: Commentary upon the European Union Emissions Trading Scheme

Cited by 27 publications

References 12 publications

Multinational Corporations and Emissions Trading:

Multinational Corporations and Emissions Trading:

North American business strategies towards climate change

An Option Analysis of the European Union Renewable Energy Support Mechanisms

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