Emissions Trading and Business

Hardcover  400 p., 64 illus.  ISBN 9783790817478      £73.00

Emissions trading challenges the management of companies in an entirely new manner.

It does not only allow for a bigger flexibility in management decisions concerning emission issues like other marked based environmental policy instruments. Furthermore it changes the code by which environmental policy steers management decisions from hierarchical to monetary information. But is this change transmitted and mirrored in management decisions, processes and structures? And, how do they change? When flexibility is given to the companies they have several opportunities to react. Moreover different institutional architectures of emissions trading schemes are possible and have been implemented, like in the US, the UK or the EU.

The 24 contributions discuss theoretically and empirically in four parts the following subjects:
1. Institutional design, decision making and innovation,
2. Investment and management strategies,
3. ET and business administration,
4. Effects of ET schemes existing and being implemented.

Written for scientists, practitioners in Environmental Administration

Contents

Foreword
Preface and acknowledgements
Introduction, Ralf Antes, Bernd Hansjürgens, Peter Letmathe

Part A - Institutional design, decision making and innovation

• Abatement costs vs. compliance costs in multi-period emissions trading - the firms' perspective , Sven Bode
• Generous allocation and a ban on banking - implications of a simulation game for EU emissions trading , Joachim Schleich, Karl-Martin Ehrhart, Christian Hoppe, Stefan Seifert
• Emissions trading and innovation in the German electricity industry - impact of possible design options for an emissions trading scheme on innovation strategies in the German electricity industry, Martin Cames, Anke Weidlich
• A dynamic game of technology diffusion under emissions trading: an experiment, Ivana Capozza
• Sustainability entrepreneurship in the context of emissions trading, Anne Gerlach

Part B - Investment and management strategies under emissions trading

• Optimal strategies for emissions trading in a Putty-Clay Vintage Model, Peter Letmathe, Sandra Wagner
• Strategic production management of companies participating in the European greenhouse gas emission allowance trading scheme, Wolf Fichtner
• Decision making in the emissions-market under uncertainty, Gorden Spangardt, Michael Lucht, Christian Wolf, Christian Horn
• The impact of climate policy on heat and power capacity investment decisions, Harri Laurikka
• Implications of the European emissions trading scheme for strategic energy management in small and medium enterprises, Anja Pauksztat, Martin Kruska
• Management and optimization of environmental data within emissions trading markets - VEREGISTER and TEMPI, Bernhard Grimm, Stefan Pickl, Alan Reed
• Emissions trading with changing future commitments - some initial thoughts, Marcus Stronzik

Part C - Emissions trading and business administration

• Emission Trading North - important findings from a business perspective , Katja Barzantny Corporate greenhouse gas management in the context of emissions trading regimes, Ralf Antes
• Accounting for emission rights, Edeltraud Günther
• The role of stakeholder driven corporate governance - the example of BP's climate change strategy, Thomas Langrock
• Emissions trading and effects on financial markets , Timo Busch

Part D - Effects of emissions trading schemes existing and being implemented

• The EU emissions trading scheme and its competitiveness effects upon European business - results from the CGE model DART, Sonja Peterson
• Implementing the EU emissions trading directive in Spain: a comparative study of corporate concerns and strategies in different industrial sectors, Pablo del Río González
• UK's climate change levy and emissions trading scheme: implications for businesses' productivity and economic efficiency, Adarsh Varma
• The sources of emission reductions: evidence from U.S. SO₂ emissions from 1985 through 2002, A. Denny Ellerman, Florence Dubroeucq
• Policy-business interaction in emissions trading between multiple regions, Jürgen Scheffran, Marian Leimbach
• The changing role of the project mechanisms in emissions trading, Katherine G. Begg
• Prevailing technologies and locations of CDM projects: the current situation compared with expectations, Jobert Winkel