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The EU has a consolidated climate and energy regulation: it played a pioneering role by adopting a wide range of climate change policies and establishing the first regional Emission Trading Scheme (EU ETS). These policies, however, raise several concerns regarding both their environmental effectiveness and their potentially negative effect on the economy, especially in terms of growth and competitiveness. The paper reviews the European experience in order to understand if these concerns are supported by quantitative evidence. It thus focuses on key economic indicators, such as costs, competitiveness and carbon leakage as assessed by quantitative ex-ante and ex-post analyses. A dedicated section, extends the investigation to the potential extra-EU spillover of the EU mitigation policy with a particular attention to developing countries. The objective of the paper is to highlight both the limits and the opportunities of the EU regulatory framework in order to offer policy insights to emerging and developing countries that are on the way to implement climate change measures. Overall, the European experience shows that the worries about the costs and competitiveness losses induced by climate regulation are usually overestimated, especially in the long term. In addition, a tightening climate policy regime in the EU might in fact negatively impact developing countries via deteriorated trade relations. Nonetheless it tends to facilitate a resource relocation that if well governed could be beneficial to those countries where the poor are mainly involved in rural activities.

AbstractThis paper analyses the role that companion policies have had in the reduction of emissions regulated by the EU Emissions Trading System (EU ETS) and the related policy interactions, with a view to identifying relevant insights for China's forthcoming Emissions Trading System (ETS). The investigation rests on: (a) the observation of the EU's and China's ETSs and policy mixes; (b) economic theory concerning companion policies and ETS design; and (c) empirical ex-post evidence from the EU ETS. Three main conclusions emerge from the analysis. First, China's ETS, while not imposing a fixed cap on emissions, will not be immune to waterbed effects of companion policies. Second, the European experience stresses the importance of making explicit the objectives pursued by companion policies, and of balancing policies for innovation and policies for adoption of low-carbon technologies. Third, in the presence of a major market surplus, only permanent adjustments to allowance supply can be effective in raising prices.

This paper analyses the role that companion policies have had in the reduction of emissions regulated by the EU Emissions Trading System (EU ETS) and the related policy interactions, with a view to identifying relevant insights for China's forthcoming Emissions Trading System (ETS). The investigation rests on: (a) the observation of the EU's and China's ETSs and policy mixes; (b) economic theory concerning companion policies and ETS design; and (c) empirical ex-post evidence from the EU ETS. Three main conclusions emerge from the analysis. First, China's ETS, while not imposing a fixed cap on emissions, will not be immune to waterbed effects of companion policies. Second, the European experience stresses the importance of making explicit the objectives pursued by companion policies, and of balancing policies for innovation and policies for adoption of low-carbon technologies. Third, in the presence of a major market surplus, only permanent adjustments to allowance supply can be effective in raising prices. ; The work leading to this study was co-financed by the EU LIFE Programme of the European Commission – Grant Agreement LIFE15 GIC/IT/000051 LIFE SIDE. This paper reflects only the authors' view and the Agency is not responsible for any use that may be made of the information it contains.

This paper explores a number of major options that the EU could consider if the decision is made to enhance the EU Nationally Determined Contributions (NDC). It shows that the options are varied, with significant differences in terms of additional mitigation effort, political will and environmental impacts. These options have been discussed through workshops with stakeholders and policy makers and an online survey. The survey asked participants to rate the political and social acceptability, as well as competitive, international and environmental impacts of 9 options for enhancing the EU NDC set out in this paper. The results of these efforts to gather input and foster discussion are analysed at the end of the paper.

The present report is chronologically the first output of the project LIFE DICET – Deepening International Cooperation on Emissions Trading (lifedicetproject.eui.eu). LIFE DICET supports EU and Member State policymakers in deepening international cooperation for the development and possible integration of carbon markets. This report is a collection of five short documents describing the Emissions Trading Systems (ETSs) currently in force in the following jurisdictions: EU, California-Québec, China, New Zealand and Switzerland. A central component of the DICET project is the Carbon Market Policy Dialogue (CMPD) between the European Commission, as the regulator of the EU ETS, and the regulatory authorities for the other ETSs in the above said jurisdictions. The purpose of this report, and of others that will follow, is to inform the CMPD. Specifically, the report collects basic information about the main features of the ETSs represented in the CMPD (e.g., sectors covered, number of installations, total allowance volume, allocation method, etc.) and, for each of them, provides brief explanations and relevant references concerning both the main current regulatory issues and the recent and prospective reforms. The report was written in December 2019, so it provides the reader with a snapshot of the ETSs at that specific point in time. This caveat is in order as each and every of the six ETSs has been going through a phase of relevant policy and regulatory changes. ; The present report is a deliverable of the LIFE DICET project, which is co-financed by the EU LIFE Programme of the European Commission.

The Deep Decarbonization Pathways Project (DDPP), an initiative of the Sustainable Development Solutions Network (SDSN) and the Institute for Sustainable Development and International Relations (IDDRI), aims to demonstrate how countries can transform their energy systems by 2050 in order to achieve a low-carbon economy and significantly reduce the global risk of catastrophic climate change. Built upon a rigorous accounting of national circumstances, the DDPP defines transparent pathways supporting the decarbonization of energy systems while respecting the specifics of national political economy and the fulfillment of domestic development priorities. The project comprises 16 Country Research Teams, composed of leading research institutions from countries representing about 70% of global GHG emissions and at very different stages of development. These 16 countries are: Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, South Africa, South Korea, the United Kingdom, and the United States. "Pathways to Deep Carbonization in Italy" contributes to the national debate on climate-change mitigation, and the importance of deep decarbonization, by examining three alternative pathways that could reduce Italian CO2 emissions by at least 40% in 2030 and 80% in 2050, compared to 1990. It analyzes the challenges the Italian energy system faces, and possible future technological developments that will need to be pursued.

Les 16 équipes de chercheurs mobilisées dans le cadre du projet ont élaboré et approfondi leurs trajectoires de décarbonation par rapport au rapport 2014, affinant leurs résultats et conclusions par l'intermédiaire de plusieurs scénarios définissant différentes orientations possibles de décarbonation pour un même pays.À l'échelle globale, le rapport montre que la décarbonation profonde des économies actuellement les plus émettrices est techniquement faisable, tout en prenant en compte les projections attendues de croissance démographique et économique. D'ores et déjà, ces tendances de décarbonation apparaissent compatibles avec l'objectif de 2°C maximum de réchauffement à l'horizon 2100 ; et des potentiels de réduction d'émissions plus drastiques encore ont été identifiés par les différentes équipes. Ces conclusions pourront en outre, à l'avenir, être complétées par d'autres pays et par la prise en compte de sources d'émissions provenant de sources non analysées par le DDPP (affectation des terres, procédés industriels, etc.).Le rapport 2015 insiste particulièrement sur la compatibilité des objectifs de décarbonation et de développement économique et social. Décarboner permet en effet en premier lieu d'éviter les effets délétères du changement climatique, et s'inscrit en parallèle dans une stratégie d'amélioration significative de services essentiels comme l'accès à l'énergie. Les stratégies de décarbonation profonde peuvent contribuer au développement durable des pays.Enfin, les investissements nécessaires à la décarbonation profonde, de l'ordre de 0,8% du PIB en 2020 (1,3 % en 2050), ne représentent pas un surcoût majeur par rapport aux investissements nécessaires en l'absence de politiques climatiques. De plus, sous réserve de signaux adéquats sur le long terme, la réorientation des investissements vers les technologies bas carbone ouvrent d'importantes perspectives commerciales.Dans le cadre de la COP21, où se négocie ces jours-ci un accord pour un nouveau régime climatique à partir de 2020, les stratégies ...

Les 16 équipes de chercheurs mobilisées dans le cadre du projet ont élaboré et approfondi leurs trajectoires de décarbonation par rapport au rapport 2014, affinant leurs résultats et conclusions par l'intermédiaire de plusieurs scénarios définissant différentes orientations possibles de décarbonation pour un même pays.À l'échelle globale, le rapport montre que la décarbonation profonde des économies actuellement les plus émettrices est techniquement faisable, tout en prenant en compte les projections attendues de croissance démographique et économique. D'ores et déjà, ces tendances de décarbonation apparaissent compatibles avec l'objectif de 2°C maximum de réchauffement à l'horizon 2100 ; et des potentiels de réduction d'émissions plus drastiques encore ont été identifiés par les différentes équipes. Ces conclusions pourront en outre, à l'avenir, être complétées par d'autres pays et par la prise en compte de sources d'émissions provenant de sources non analysées par le DDPP (affectation des terres, procédés industriels, etc.).Le rapport 2015 insiste particulièrement sur la compatibilité des objectifs de décarbonation et de développement économique et social. Décarboner permet en effet en premier lieu d'éviter les effets délétères du changement climatique, et s'inscrit en parallèle dans une stratégie d'amélioration significative de services essentiels comme l'accès à l'énergie. Les stratégies de décarbonation profonde peuvent contribuer au développement durable des pays.Enfin, les investissements nécessaires à la décarbonation profonde, de l'ordre de 0,8% du PIB en 2020 (1,3 % en 2050), ne représentent pas un surcoût majeur par rapport aux investissements nécessaires en l'absence de politiques climatiques. De plus, sous réserve de signaux adéquats sur le long terme, la réorientation des investissements vers les technologies bas carbone ouvrent d'importantes perspectives commerciales.Dans le cadre de la COP21, où se négocie ces jours-ci un accord pour un nouveau régime climatique à partir de 2020, les stratégies de décarbonation sont indispensables pour informer les feuilles de route portant sur les choix de long terme, évitant ainsi des situations de blocage (lock-in), notamment technologiques, pouvant in fine freiner l'action climatique et en retarder ses effets.