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Carbon Prices during the EU ETS Phase II: Dynamics and Volume Analysis

Chevallier, Julien (2010), Carbon Prices during the EU ETS Phase II: Dynamics and Volume Analysis. https://basepub.dauphine.fr/handle/123456789/4605

Type
Document de travail / Working paper
External document link
http://halshs.archives-ouvertes.fr/halshs-00459140/fr/
Date
2010
Publisher
Université Paris-Dauphine
Published in
Paris
Pages
18
Metadata
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Author(s)
Chevallier, Julien
Abstract (EN)
The European Union Emissions Trading Scheme (EU ETS) is the largest emissions trading scheme to date. This article summarizes the principle elements behind the trading system, and details the carbon price dynamics during Phase II (2008-2012), along with an analysis of traded volumes. The main findings emphasize that the EU ETS is a rapidly growing market, which yields to innovative learning process for all participants involved: policy makers, industrial operators, and financial analysts. Besides, these results shed some light on the usefulness of credit project mechanisms, which may result in the medium-term in integrated ‘world' carbon markets between various regional and/or national ETS.
Subjects / Keywords
CER; Options Price; Spot Price; Futures Price; EU ETS; Carbon Price; Phase II
JEL
Q47 - Energy Forecasting
Q57 - Ecological Economics: Ecosystem Services; Biodiversity Conservation; Bioeconomics; Industrial Ecology
Q58 - Government Policy