The European Union's Emissions Trading Scheme
In: Environmental Remediation Technologies, Regulations and Safety
Intro -- THE EUROPEAN UNION'S EMISSIONS TRADING SCHEME: CLIMATE AND AVIATION CONSIDERATIONS -- THE EUROPEAN UNION'S EMISSIONS TRADING SCHEME: CLIMATE AND AVIATION CONSIDERATIONS -- LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA -- CONTENTS -- PREFACE -- Chapter 1: CLIMATE CHANGE AND THE EU EMISSIONS TRADING SCHEME (ETS): LOOKING TO 2020 -- SUMMARY -- OVERVIEW -- RESULTS FROM PHASE 1 AND 2 -- PHASE 3 -- Auctions -- New Entrant Reserves -- EC Phase 3 Decision on Eligible Industries -- Flexibility Mechanisms and Price Volatility Control -- Expanding Coverage -- SUMMARY AND CONSIDERATIONS FOR US CAP-AND-TRADE PROPOSALS -- Emission Inventories and Target Setting -- Coverage -- Allocation Schemes -- Flexibility and Price Volatility -- End Notes -- Chapter 2: AVIATION AND THE EUROPEAN UNION'S EMISSION TRADING SCHEME -- SUMMARY -- INTRODUCTION -- A Two-Decade Process to Address Aviation Emissions -- WHY ADDRESS AVIATION EMISSIONS? -- Aviation: Relatively Large Among Many Small Emission Categories -- One of the Fastest Growing Sources of Emissions -- Counteracting Influences: Demand Growth and Efficiency Gains -- Expansion of Air Transport Demand -- Past Improvements in Fuel Efficiency and Emissions per Passenger-Mile -- Further Improvements May Help Suppress Emissions -- Aviation Emissions Projected to Grow Rapidly -- EU'S LEGAL OBLIGATIONS TO REDUCE GHG EMISSIONS -- HOW THE EU'S EMISSIONS TRADING SCHEME WORKS -- AVIATION IN THE EU ETS -- Aviation Provisions in the EU ETS -- Disposition of Revenues -- Potential EU Exemptions with Equivalent Measures by Other States -- ESTIMATED IMPACTS ON US AIRLINES -- Emission Reduction Potential of Technical Improvements -- Different Assumptions about Allowance Prices -- Alleged Effects on R&D and Investment in New Equipment -- Potential for Profit Opportunities and Windfalls -- Competitive Dynamics