The EU's Climate Policy

Edited by: Jos Delbeke

This book provides an up-to-date account of the EU's climate policies that apply across the European economy. It examines the nuts and bolts of the world's largest carbon market - the EU emission trading system - functioning in a new form as of January 1, 2013. The topics covered include: the importance of using market forces to reduce greenhouse gas emissions * binding caps * large scale auctions and the use of revenues * the support given for modernization and deployment of innovative technologies * free allocation and 'carbon leakage' * action on aviation emissions * the registry IT system * monitoring, reporting, and verification * the use of international credits and incentives given to action outside the EU * the use of clean development mechanism credits applicable from 2013 onwards * the developing links of the EU system with Australia and Switzerland * an outlook on pathways to building a truly international carbon market. An additional section describes the effort-sharing decision that sets binding national targets for sectors not covered by the EU emission trading system, and explains the EU-level policies that support meeting these targets. These include CO2 emission limit values for passenger cars, energy efficiency regulations, the fuel quality Directive, and regulations on non-CO2 greenhouse gases. Activity on land use and forestry is also covered. The final section describes the main challenges for developing an effective international climate policy. It sketches the progress to date and, in particular, the changing dynamics and growing complexity in the climate negotiations, focusing on the challenges ahead in the negotiations on a new, legally binding, agreement to be finalized by 2015 and to be implemented from 2020 onwards.

160 pages

Not Yet Published
Format: Paper
ISBN: 9789491673016