Using CO2 Emission Allowances in Equity Portfolios
In: Handbook of Environmental and Sustainable Finance, S. 359-370
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In: Handbook of Environmental and Sustainable Finance, S. 359-370
In: MTZ - Motortechnische Zeitschrift, Band 82, Heft 3, S. 16-23
ISSN: 2192-8843
In: MTZ - Motortechnische Zeitschrift, Band 77, Heft 7-8, S. 16-23
ISSN: 2192-8843
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In Switzerland, transportation represents 41% of CO2 emissions from energy combustion (2016), a much higher share than in the European Union (EU) (28%) or even the USA (34%). While total Swiss CO2 emissions decreased by 10% between 1990 and 2016, CO2 emissions from transport increased by 4.5% over the same period (all data from UNFCCC database). Our projections (Vielle and Thalmann, Updated emissions scenarios without measures, 1990-2025, Tech. rep., 2017) show that the contribution of the transport sector would remain constant in a scenario taking into account climate and energy policy measures already implemented or adopted in 2016. In the EU, several initiatives have already been introduced to limit the use of petroleum products in transportation. This paper presents deep decarbonization pathways for Switzerland that demand a strong contribution from the transport sector. We find that a preferential treatment of transportation fuels raises the welfare cost of decarbonization by about 18% relative to a uniform tax on all fossil fuels. This is of similar magnitude as the preferential treatment of large CO2 emitters through an emissions trading system. We also find that the preferential treatment leads to a share of fossil fuels in total energy for road transportation in 2050 which is approximately twice as high as in the uniform treatment.
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In der vorliegenden Arbeit wird ein detailliertes Modell des deutschen Wärmesektors entwickelt. Ausgehend vom Basisjahr 2015 können Szenarien für die Transformation des Wärmesektors bis zum Zieljahr 2050 simuliert und untersucht werden. Für alle Ergebnisse wird dabei stets eine hohe regionale und zeitliche Auflösung erreicht. Weiterführend ist das Modell in ein Gesamtsystemmodell integriert, um die Auswirkungen der Entwicklung im Wärmesektor für das gekoppelte Energiesystem zu analysieren. Die Ergebnisse der betrachteten Szenarien zeigen, dass der Rückgang von Heizöl und Kohle als Energieträger zur Wärmeerzeugung bereits deutliche CO2-Emissionsminderungen hervorruft. Weiterhin wirkt sich ein hoher Grad der Elektrifizierung und besonders die damit verbundene Nutzung effizienter Wärmepumpen positiv auf den Rückgang der CO2-Emissionen aus. Jedoch wird nur bei sehr ambitionierten Entwicklungen im Wärmesektor der Zielkorridor der Bundesregierung in Bezug auf die CO2-Emissionsminderung erreicht, eine Weiterführung der aktuellen Trends ist unzureichend. Es zeigt sich zudem, dass der Ausbau der erneuerbaren Stromerzeugungskapazitäten nach dem Netzentwicklungsplan 2030 nicht ausreicht, wenn in den Sektoren Wärme und Verkehr der Strombedarf bedingt durch die Elektrifizierung stark ansteigt.
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In: CESifo Working Paper No. 7881
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The relationship between information and communication technology investment (ICT), environmental impacts, and economic growth has received increasing attention in the last 20 years. However, the relationship between ICT, energy intensity, environmental impacts, and economic growth was relatively neglected. In this paper, we aimed to contribute to the environmental literature by simultaneously analyzing the relationship between ICT, energy intensity, economic growth, Carbon dioxide (CO2) emissions, and energy consumption for the period of 1990–2020 in G7 countries. We employed the Panel Quantile Auto Regressive Distributed Lag (PQARDL) method and Panel Quantile Granger Causality (PQGC) methods. According to the results of PQARDL method, energy consumption, ICT, CO2 emission, and energy intensity have effects on economic growth in the long and short run. According to the of PQGC methods allowing causality results for different quantiles, there is evidence of a bidirectional causality between ICT investment and economic growth for all quantiles and evidence of a unidirectional causality from ICT to energy consumption and from CO2 emissions to ICT investment and energy efficiency. Our results indicate that the governments of the G7 countries have placed energy efficiency and ICT investment at the center of their policies while determining their environmental and energy policies, since energy consumption is a continuous process.
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Combining global gridded population and fossil fuel based CO2 emission data at 1 km scale, we investigate the spatial origin of CO2 emissions in relation to the population distribution within countries. We depict the correlations between these two datasets by a quasi-Lorenz curve which enables us to discern the individual contributions of densely and sparsely populated regions to the national CO2 emissions. We observe pronounced country-specific characteristics and quantify them using an indicator resembling the Gini-index. As demonstrated by a robustness test, the Gini-index for each country arise from a compound distribution between the population and emissions which differs among countries. Relating these indices with the degree of socio-economic development measured by per capita Gross Domestic Product (GDP) at purchase power parity, we find a strong negative correlation between the two quantities with a Pearson correlation coefficient of -0.71. More specifically, this implies that in developing countries locations with large population tend to emit relatively more CO2, and in developed countries the opposite tends to be the case. Based on the relation to urban scaling, we discuss the implications for CO2 emissions from cities. Our results show that general statements with regard to the (in)efficiency of large cities should be avoided as it is subject to the socio-economic development of respective countries. Concerning the political relevance, our results suggest a differentiated spatial prioritization in deploying climate change mitigation measures in cities for developed and developing countries.
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In: Mulder , A J 2016 , ' CO2 emissions trading in the EU : Models and policy applications ' , Doctor of Philosophy , University of Groningen , [Groningen] .
Over the past decade, several CO2 emissions trading schemes have been introduced around the world. The first, and by far largest scheme, is the European Union Emissions Trading Scheme (EU ETS). Despite early hopes that the scheme could seriously trigger investments in greenhouse gas reduction technologies around Europe, its ability to do so has fallen far below prior expectations. Policymakers now face the challenging task to revitalize the EU ETS and bring its ability to trigger investment in line with policy objectives. In this thesis, we take a closer look at the performance drivers of the EU ETS by developing a dynamic stochastic simulation model of the scheme. Based on the analysis with that model, we offer several policy recommendations that can help to align the EU ETS performance more closely with the policy objectives of the EU and its individual member-states. First, we take the perspective of potential investors in Carbon Capture and Storage (CCS) to assess to what extent the EU ETS is able to structurally trigger investments in such capital intensive technologies with a high lead time. We test the impact of both the current EU ETS design, as well as amended designs, on the scope for investments in CCS. Subsequently, we examine to what extent the performance of the EU ETS incentive is affected by instruments that have been introduced in parallel to the scheme.
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Worldwide climate protection suffered another serious set-back last year. According to preliminary estimates, energy-induced emissions of carbon dioxide (CO2) - the most important greenhouse gas by far - increased by approx. 4.5% on a worldwide basis in 2004 in comparison to the previous year; compared to 1990, the increase amounted to more than one fourth. For the total greenhouse gas emissions, only information on those countries committing to emission limitation or reduction according to the Kyoto Protocol is available (Annex B countries without USA and Australia). In those countries, greenhouse gas emissions rose by an estimated 1% in the past year. In comparison to the base year 1990, in 2004 they were lower by almost 15%. This was basically a consequence of the drastic emission reduction in the so-called transformation countries (Economies in Transition) in Central and Eastern Europe (1990 to 2004: 35%); however, starting in 1998, a considerable emission increase occurred again in those countries (1998 to 2004: an increase of approx. 10%). All things considered, a measurable success in international climate protection policy is still missing _ instead of the targeted reduction, greenhouse gas emissions continued to rise in most of the countries. Upon the Kyoto Protocol becoming effective as of February 2005, those countries that ratified the Protocol now have the binding obligation to reach the promised emission target by the commitment period 2008/2012. For the majority of the countries, this will only be possible with materially intensified climate protection measures within the relatively short remaining time. In EU countries, emissions trading can make a significant contribution. However, a prerequisite therefore is the corresponding specification in the allocation plans still to be prepared for the commitment period 2008/2012.
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GHG emissions from transport must fall quickly if the EU wants to reach its target of reducing net GHG emissions by 55 % below 1990 levels by 2030 and achieve climate neutrality by 2050, as set out in the EU Climate Law.
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In: OECD journal: economic studies, S. 3-193
ISSN: 1995-2848, 0255-0822
Die energiebedingten CO2-Emissionen in Deutschland entwickelten sich im vergangenen Jahr etwa parallel zum Primärenergieverbrauch; im Vergleich zum Jahr 2000 waren sie um 1,6 % höher. Maßgeblich für diesen Anstieg war die wesentlich kühlere Witterung; ohne den Temperatureinfluss errechnet sich ein Rückgang um 0,7 %. Gegenüber dem (international vereinbarten) Basisjahr 1990 waren die effektiven CO2-Emissionen im Jahre 2001 um 13,5 % niedriger. Temperaturbereinigt fiel der Rückgang mit reichlich 15 % etwas stärker aus. Deutschland gehört zu den wenigen Industrieländern, in denen sich die CO2-Emissionen in den 90er Jahren verringert haben. Gemessen an den ambitionierten Reduktionszielen der Bundesregierung ist das derzeitige Emissionsniveau allerdings noch zu hoch. Bereits Anfang der 90er Jahre hatte sich die Bundesregierung verpflichtet, die CO2-Emissionen deutlich zu verringern. In dem kürzlich vorgelegten Entwurf der Nachhaltigkeitsstrategie für Deutschland hat sie das Ziel erneut bekräftigt, die CO2-Emissionen bis 2005 im Vergleich zu 1990 um 25 % zu senken. Um dieses Ziel nicht zu verfehlen, müssten die temperaturbereinigten CO2-Emissionen - ausgehend vom Niveau im Jahre 2001 - bis 2005 um rund 100 Mill. Tonnen oder um fast 12 % reduziert werden. Dies erscheint innerhalb so kurzer Zeit selbst bei drastisch verstärkten klimaschutzpolitischen Anstrengungen wenig realistisch.
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