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Is European climate policy the new CAP? Bruegel Policy Brief 2011/01, January 2011

Georg, Zachmann. (2011) Is European climate policy the new CAP? Bruegel Policy Brief 2011/01, January 2011. [Policy Paper]

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    Abstract

    In its third phase (2013-20) the European Union's emissions trading system (ETS) will issue allowances for around two billion tonnes of CO2 equivalent each year. The emission rights are valued at around €30-35 billion at current prices, between one-half and two-thirds of the amount the EU spends on the Common Agricultural Policy. The redistributive effects of the allocation of emission allowances are therefore potentially significant. Quantitative indicators for the relative degree to which individual countries will be affected by the ETS suggest that economic consequences for the member states will be quite different. By comparing the indicators for each country with that country's initial allocation, we find, however, that countries with less favourable initial conditions are largely compensated.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > environmental policy (including international arena)
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 08 Feb 2011
    Page Range: p. 8
    Last Modified: 15 Feb 2011 18:42
    URI: http://aei.pitt.edu/id/eprint/15761

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