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Discussion or working paper
Gernot Klepper ,
Sonja Peterson

Emissions Trading, CDM, JI, and More - The Climate Strategy of the EU

  • Abstract
    The objective of this paper is to assess the likely allocation effects of the current cli-mate protection strategy as it is laid out in the National Allocation Plans (NAPs) for the European Emissions Trading Scheme (ETS). The multi-regional, multi-sectoral CGE-model DART is used to simulate the effects of the current policies in the year 2012 when the Kyoto targets need to be met. Different scenarios are simulated in or-der to highlight the effects of the grandfathering of permits to energy-intensive instal-lations, the use of the project-based mechanisms (CDM and JI), and the restriction imposed by the supplementarity criterion.

  • Keywords

    Kyoto targets, EU, EU emissions trading scheme, National Allocation Plans, CDM and JI, computable general equilibrium model, DART

  • JEL classification

    D58, F18, Q48, Q54

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