The European Emissions Trading Scheme assessment--多伦多大学代写essay范文

多伦多大学代写essay范文:“The European Emissions Trading Scheme assessment”，这篇论文主要描述的是欧盟的排放交易体系是目前世界上最大的温室气体排放交易计划，这些计划旨在减少整个欧盟地区的碳排放量，提高对于环境的保护，从而减少因为环境污染而带来的气候灾害问题，这项计划在实施的近十年中对欧盟的发展起着关键性的作用。

Abstract: Launched in 2005, the European Union Emissions Trading Scheme was the first large greenhouse gas emission trading scheme in the world. In the past decade, this scheme played a key role in the reduction of carbon emission, especially in the Europe area. From 2013, this scheme has entered the third phase. However, several problems have been reported for this scheme. For instance, sectorial overallocation, which leads to unfair overburdens for certain sectors, has become a serious issue in the third phase. A possible solution to this issue is to derive caps from actual emissions in the past decade rather than from the theoretical allocations in Phase II which are distorted by overallocations. In

this way, the effect of lobbying by different parties is minimized and the allocation of allowances to different sectors is optimized.

Launched in 2005, the European Union Emissions Trading Scheme (denoted as EUETS) was the first regional trading scheme for greenhouse gas emissions in the world (Ellerman and Buchner, 2007). To date, it remains the largest gas emission trading scheme globally. Aimed at combating undesired climate changes, this scheme has been playing a key role in the reduction of carbon emission with minimized effect on the development of industries such as chemical industry. Indeed, over 40% of the total emissions of greenhouse gas in Europe are regulated by ETS (Wagner, 2004) and the proposed cap for 2020 shows a 21% reduction of greenhouse gases as compared to that for 2005. This achievement is significant for the global carbon emission as Europe was one of the most polluted areas due to its long history of industry. According to the Kyoto Protocol, EUETS is divided into four phases and this scheme has entered the third phase since 2013. In this phase, a number of changes have been proposed, including tighter limit on the offset, establishment of an overall EU cap and most importantly, a move from allowances to auctioning .

Nevertheless, in spite of the great achievements made, the European Union Emissions Trading Scheme is facing a variety of problems which may leave this scheme ineffective, if not redundant. Among all the problems, four fundamental problems have been highlighted: inappropriate targets, sectoral overallocation, carbon lock-in and new entrants reserve (Reyes and Gilbertson, 2010). Each of these fundamental problems needs appropriate and feasible solutions. However, due to limited time and background knowledge of the author, this article focuses on the problem of sectoral overallocation. A brief introduction on this specific problem will be given first, followed by possible consequences of this problem. More importantly, a potential solution to this problem will be proposed based on previous reports and critical thinking by the author.

To provide sufficient allowances to every sector so that the regular productions are not affected, the EUETS has oversupplied 233 million allowances besides the theoretical cap (Kettner et al., 2006). As a result, the cost increments for the industries are within a reasonable range. However, this effort leads to unfair overburdens for certain sectors. Currently, the power industry is carrying the majority of the limitation burden, leading to increased cost as extra money is needed for the allowance purchasing to ensure daily operations. On the contrary, 70% of participants in the scheme were given more than enough allowances (Ellerman and Buchner, 2008). For instance, in virtue of successful lobbying, heavy industry and a considerable number of manufacturers have been supplied with more than enough allowances, hence not shouldering the portion that they are supposed to bear. As a result, these industries are able to keep generous allowances which exceed their actual emissions. This can be a severe issue as some industries are overburdened, resulting in significant limitations on these industries. As a result, some members may quit the ETS as required by these industries, leading to significantly reduced effectiveness of this scheme. In the worst case, political conflicts may be resulted as industries the power industry are key sectors for the functioning and security of a nation.

To solve this problem, a variety of solutions have been proposed, including a larger portion of auctioned allowances, a tighter limit of overall emission, etc. (Zhang and Wei, 2010). However, most of these proposed solutions have shown some limitations. For instance, a larger portion of auctioned allowances may lead to elevated price which is neither reasonable nor affordable, while a tighter limit of overall emission may hinder the development of several industries. Based on experts’ opinions and personal interpretation from the author, the most promising solution to the problem of sectoral overallocation is a new strategy for the design of sectoral allocation. Instead of deriving the caps for the third phase from previous allocations which are distorted by asymmetric sectoral allocations, the new caps shall be designed based on the actual emissions of different sectors in the past decade or even longer. In this way, the effect of lobbying by different parties is minimized and the allocation of allowances to different sectors is optimized. Indeed, experts have proposed a calculation of the Phase III cap based on historical emissions. In this proposal, the cap was derived from generous estimation of average 2005-2012 emissions. The resulted cap was 2.3 billion lower than the one based on the cap in Phase II.

n conclusion, the European Union Emissions Trading Scheme is facing a variety of issues that may disable this scheme. One of the issues is sectoral overallocation, which means the burden of carbon emission reduction was not allocated properly, leading to increased cost for some industries. A possible solution to this problem is a new strategy for the design of sectoral allocation. In this new strategy, the Phase III cap is derived from actual emissions of different sectors in the past years, instead of previous allocation strategy, which is distorted by overallocations. In this way, it is believed that the burden of carbon emission reduction can be allocated appropriately and the effectiveness of the ETS is optimized.

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