The impact of administrative transaction costs in the EU emissions trading system
| Autor: | Peter Heindl |
|---|---|
| Rok vydání: | 2015 |
| Předmět: |
Economic efficiency
Atmospheric Science 010504 meteorology & atmospheric sciences 020209 energy 02 engineering and technology Environmental Science (miscellaneous) Management Monitoring Policy and Law 01 natural sciences 7. Clean energy 0502 economics and business 0202 electrical engineering electronic engineering information engineering 050207 economics Industrial organization 0105 earth and related environmental sciences Upstream (petroleum industry) Transaction cost Global and Planetary Change Economic sector 05 social sciences International economics Economies of scale Commerce 13. Climate action Carbon market Business Emissions trading |
| Zdroj: | Climate Policy. 17:314-329 |
| ISSN: | 1752-7457 1469-3062 |
| DOI: | 10.1080/14693062.2015.1110108 |
| Popis: | This article empirically investigates the impact of transaction costs for monitoring, reporting, and verification (MRV) of emissions on companies regulated by the EU Emissions Trading System (EU ETS) in Germany. Based on a unique panel dataset, we investigate if MRV costs are dependent on the amount of annual emissions of regulated companies and if there are differences in transaction costs between economic sectors. The results indicate that administrative costs are dependent on the amount of annual emissions for larger companies, which has implications for the economic efficiency of the EU ETS. The most important finding, however, is that there are significant differences in MRV transaction costs dependent on the type and size of companies. This implies the existence of considerable economies of scale. Overall, the EU ETS could benefit from reforms by means of a push towards upstream regulation as this would likely increase administrative efficiency.Policy relevance statementTransaction costs are, among ... |
| Databáze: | OpenAIRE |
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