The primary question explored by this book is what alternative, carbon tax or emissions trading, would be an optimal policy for climate change mitigation in Australia. This book focuses on assessing carbon tax and emissions trading policy options on the basis of multiple criteria related to climate change policy in the Australian context. Recognising the complexity of the question, the author examines policy approaches capable of addressing the climate change mitigation problem and identifies the methodological approach appropriate to evaluate potential policy options. More specifically, the author determines the criteria necessary for climate change policy evaluation in Australia, ranks performance of the policy options adjacent to the criteria and, finally, evaluates and selects an optimal policy option for climate change mitigation in Australia.
Emissions trading schemes are increasingly beingadopted to combat climate change. New Zealand createdthe world s first all sectors all gases such schemein 2008, awarding tradable credits for carbonsequestration and imposing liabilities for emissions(i.e. harvest or deforestation) from forestry. Addingcarbon pricing as a decision variable complicatesforest and forest land valuation, highlighting thereal options available to foresters (i.e. to deferharvest or to change land use). Standard forestvaluation methodologies do not properly capture thevalue impacts of carbon pricing on forestry. Thisbook was commissioned by the New Zealand Ministry ofAgriculture and Forestry, and develops a new approach bootstrapping real options analysis (BROA) toaddress this shortcoming. The BROA approach is richenough to capture the complexities of forestvaluation under carbon pricing, while remainingtractable enough to find practical application. Itshould be useful to academics interested in valuingcomplex real options, as well as to academics,practitioners and policymakers interested inevaluating the impact of carbon pricing on forestryand forest land use.
Diploma Thesis from the year 2008 in the subject Environmental Sciences, grade: 1, University of Applied Sciences Burgenland (Nachhaltige Energiesysteme), language: English, abstract: Climate Change is real, and the impacts on ecology, economy and human lifestyle are expected to be tremendous.In order to effectively but also cost efficiently combat climate change, market based instruments are being used in environmental policy. Certificate schemes have been and are being created for trading of greenhouse gas reductions (Grey Certificates), renewable energy (Green Certificates) and energy efficiency (White Certificates).So far, Europe is the frontrunner in implementing especially Greenhouse Gas emission trading schemes. However, as climate change is a global problem, similar markets should be established all over the world and ideally be linked in order to achieve economic optimal solutions.This thesis describes characteristics of the different instruments and trading schemes (Grey, Green and White Certificates) and identifies major design parameters of the systems with the focus on compatibility and potential for establishing links between schemes of the same type or among the certificate types. Implications of establishing links, which can be planned and wanted but also conflicting with other goals, are discussed. As greenhouse gas emissions trading schemes are the most developed and experienced trading schemes in climate change policy, the focus of this work lies on the analysis of the different Greenhouse Gas emission trading schemes (ETS). For the compatibility analysis of ETS, the EU ETS is chosen as reference system.An outlook for near-term linking options and a summary conclude the analysis based on the findings of the work.As more and more environmental policies and instruments emerge around the world due to rising awareness for the problem of climate change, this thesis gives an overview but can not cover all different certificate systems in place and planned.
Master's Thesis from the year 2011 in the subject Economy - Environment economics, grade: 1.1, , course: International Business, language: English, abstract: Emitting half of the greenhouse gases in industrialised countries, the oil and gas sector plays a central role in global GHG emissions. Environmental regulations such as the EU ETS emerged to fight climate change by reducing GHG emissions. Although those regulations increasingly affect oil and gas companies, specific implications of the EU ETS on business strategies are widely unknown. Therefore, this dissertation explores strategic responses to the EU ETS and analyses the impact of the regulation on the oil and gas sector. A strategic response framework, derived from the literature review, provides the basis for the analysis and is consequently adapted to the research findings. Empirical case studies of BP and Shell, combine secondary data and expert interviews to identify and further outline specific responses to the EU ETS. The research findings indicate that the EU ETS significantly impacts business strategies of oil and gas firms. The resulting strategic responses are mainly influenced by regulatory pressure, economic factors and competitive implications. Responses in various corporate, managerial and operational areas could be identified. From a corporate perspective, oil and gas companies support the EU ETS, as a trading scheme for carbon is preferred to other options, such as carbon taxes. Managerial responses comprise the introduction of environmental risk management systems, incorporating a carbon price into investment decisions, and the establishment of carbon trading teams, mitigating the costs of the EU ETS. Operationally, oil and gas firms responded directly by engaging in carbon trading and investing in Carbon Capture and Storage technologies. While, process improvements and lower emission generating products such as natural gases and biofuels are responses triggered by the EU ETS, investments in renewables are not affected. Additional findings of the research are the high probability that carbon and investment leakage will take place as well as the significant impact, the EU ETS might has on M&A and outsourcing decisions, depending on the carbon price.
Seminar paper from the year 2011 in the subject Law - Public Law / Miscellaneous, grade: 1,3, University of Groningen, language: English, abstract: Climate change is undisputable one of the most important and most discussed topics in the 21st century so far. The Intergovernmental Panel on Climate Change observed in his 'Fourth Assessment Report on Climate Change' in 2007 that within the period of 1906 to 2005 the climate changed significantly. Global warming, increasing precipitation and a sea-level rise are just some indicators supporting the findings. One of the major causes leading to climate change is the increasing carbon dioxide concentration in the air mainly due to the use of fossil fuels. The International Energy Agency outlined that with the lack of new energy sources or at least changed energy policies, the energy-related CO2 emissions in 2050 will be twice the level of 2007. Therefore, politicians and scientists all over the world are making a huge effort to develop and provide measures for reducing the emissions of CO2 and other global warming gases. Besides the more famous accomplishments such as the subsidization of renewable energy sources or emission trading a new technology emerged in the past decade, Carbon Capture and Storage (CCS). It can be described, in general, as a technique to reduce CO2 emissions into the atmosphere by sequestrating it from fossil fuels and storing it into geological formations in the ground or in the sub-seabed. In chapter 'B' this paper will give an overview about the technological concept of CCS and the various approaches that are currently examined by scientists. CCS is seen as one of the most feasible climate change mitigation options due to its capability to reduce the emission of CO2 into the atmosphere without abandoning the use of fossil fuels. To do justice to this rating, it is necessary to support the deployment of CCS by developing and constructing legal frameworks and regulations that are flexible enough to allow for new technological advancements. The European Union is taking a big step forward with its Directive 2009/31/EC of the European Parliament and of the Council by creating a regulatory framework for the geological storage of CO2.
A detailed guide to profiting from trend reversals using the technical analysis of price action The key to being a successful trader is finding a system that works and sticking with it. Author Al Brooks has done just that. By simplifying his trading system and trading only 5-minute price charts he's found a way to capture profits regardless of market direction or economic climate. His first book, Reading Price Charts Bar by Bar, offered an informative examination of his system, but it didn't allow him to get into the real nuts and bolts of the approach. Now, with this new series of books, Brooks takes you step by step through the entire process. By breaking down his trading system into its simplest pieces: institutional piggybacking or trend trading, trading ranges, and transitions or reversals (the focus of this book), this three book series offers access to Brooks' successful methodology. Trading Price Action Reversals reveals the various types of reversals found in today's markets and then takes the time to discuss the specific characteristics of these reversals, so that you can use them in your everyday trading endeavors. While price action analysis works on all time frames, there are different techniques that you can use in trading intraday, daily, weekly and monthly charts. This, among many other issues, is also addressed throughout these pages. * Offers insights on how to handle volatility and sharp reversals * Covers the concept of using options when trading certain charts * Examines how to deal with the emotions that come along with trading * Other books in the series include Trading Price Action Trends and Trading Price Action Trading Ranges If you're looking to make the most of your time in today's markets the trading insights found in Trading Price Action Reversals will help you achieve this goal.
'Collateral debt obligations, currency rates, options, futures, and swaps--these are just a few of the complex derivatives products that can daunt even the most seasoned finance professional. And in today's highly charged and rapidly changing financial climate, it is more important than ever for investors to have a strong grasp of the derivatives market--especially when derivatives are dominating global headlines and facing new regulations. In this book, financial expert David Weiss introduces readers tothe concepts of derivatives. Breaking down a complex market into its components, he systematically explains the structure, usage, and value aspect of all of the products constituting the derivatives universe. For each product, he introduces the market players, outlines the mechanics of trading, and explains the roles of regulation and oversight'--
The international framework for a climate change agreement is up for review as the initial Kyoto period to 2012 comes to an end. Though there has been much enthusiasm from political and environmental groups, the underlying economics and politics remain highly controversial. This book takes a cool headed look at the critical roadblocks to agreement, examining the economics of climate change, the incentives of the main players (the US, EU, China) and examines the policies governments can put in place to reduce greenhouse gas emissions, and ultimately shift our economies onto a low-carbon path. The volume brings together leading climate change policy experts to set out the economic analysis and the nature of the negotiations at Copenhagen and beyond. In addition to reviewing the main issues discussed above, a number of the articles question the basis of much of the climate change consensus, and debate the Stern Report's main findings. The book is in four parts. Following an overview of the main issues, the first part is a reassessment of the economics of climate change. This is fundamental to the rest of the volume, and it contains new material which goes well beyond what might be called the new conventional wisdom. The second part looks at the geography of the costs and benefits of climate change - the very different perspectives of Africa, China, the US and Europe. These chapters provide a building block to considering the prospects for a new global agreement - the very different interests that will have to be reconciled at Copenhagen and beyond. The third part looks at policy instruments at the global level (whereas much of the literature to date is nationally and regionally based). Trading and R&D feature in the chapters, but so too do more radical unilateral options, including geo-engineering. Part four turns to the institutional architecture - drawing on evidence from previous attempts in other areas, as well as proposals for new bodies.
Emissions trading schemes are increasingly beingadopted to combat climate change. New Zealand createdthe world's first 'all sectors all gases' such schemein 2008, awarding tradable credits for carbonsequestration and imposing liabilities for emissions(i.e. harvest or deforestation) from forestry. Addingcarbon pricing as a decision variable complicatesforest and forest land valuation, highlighting thereal options available to foresters (i.e. to deferharvest or to change land use). Standard forestvaluation methodologies do not properly capture thevalue impacts of carbon pricing on forestry. Thisbook was commissioned by the New Zealand Ministry ofAgriculture and Forestry, and develops a new approach- bootstrapping real options analysis (BROA) - toaddress this shortcoming. The BROA approach is richenough to capture the complexities of forestvaluation under carbon pricing, while remainingtractable enough to find practical application. Itshould be useful to academics interested in valuingcomplex real options, as well as to academics,practitioners and policymakers interested inevaluating the impact of carbon pricing on forestryand forest land use.