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Market behavior under the New Zealand ETS

Richter, Jessika Luth LU and Mundaca, Luis LU (2013) In Carbon Management 4(4). p.423-438
Abstract
The New Zealand emissions trading scheme (NZ ETS) is one of the first national-level GHG trading schemes outside Europe. It is also unique in its design and comprehensive sectoral coverage, including forestry. This paper provides an ex-post-assessment of market behavior in the NZ ETS in its first phase (2008-2012). Findings are based on quantitative evidence on prices and units, as well as qualitative information from interviews and questionnaires of key market participants and authorities. The analytical approach is based on the entire set of flexibilities granted to obliged parties to reduce GHG emissions cost effectively; that is, access to Kyoto Units, range of eligible measures, banking provision, market engagement of non-obliged... (More)
The New Zealand emissions trading scheme (NZ ETS) is one of the first national-level GHG trading schemes outside Europe. It is also unique in its design and comprehensive sectoral coverage, including forestry. This paper provides an ex-post-assessment of market behavior in the NZ ETS in its first phase (2008-2012). Findings are based on quantitative evidence on prices and units, as well as qualitative information from interviews and questionnaires of key market participants and authorities. The analytical approach is based on the entire set of flexibilities granted to obliged parties to reduce GHG emissions cost effectively; that is, access to Kyoto Units, range of eligible measures, banking provision, market engagement of non-obliged parties and trading as such. Findings reveal that market behavior responds to the unique design of the NZ ETS, in particular to the access and price of Kyoto Units. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Carbon Management
volume
4
issue
4
pages
423 - 438
publisher
Future Science
external identifiers
  • wos:000322940500016
  • scopus:84881279432
ISSN
1758-3004
DOI
10.4155/CMT.13.33
language
English
LU publication?
yes
id
865dd99e-b856-4a06-9ad5-02861fe09fbb (old id 4106694)
date added to LUP
2013-11-13 10:24:22
date last changed
2019-04-23 01:27:07
@article{865dd99e-b856-4a06-9ad5-02861fe09fbb,
  abstract     = {The New Zealand emissions trading scheme (NZ ETS) is one of the first national-level GHG trading schemes outside Europe. It is also unique in its design and comprehensive sectoral coverage, including forestry. This paper provides an ex-post-assessment of market behavior in the NZ ETS in its first phase (2008-2012). Findings are based on quantitative evidence on prices and units, as well as qualitative information from interviews and questionnaires of key market participants and authorities. The analytical approach is based on the entire set of flexibilities granted to obliged parties to reduce GHG emissions cost effectively; that is, access to Kyoto Units, range of eligible measures, banking provision, market engagement of non-obliged parties and trading as such. Findings reveal that market behavior responds to the unique design of the NZ ETS, in particular to the access and price of Kyoto Units.},
  author       = {Richter, Jessika Luth and Mundaca, Luis},
  issn         = {1758-3004},
  language     = {eng},
  number       = {4},
  pages        = {423--438},
  publisher    = {Future Science},
  series       = {Carbon Management},
  title        = {Market behavior under the New Zealand ETS},
  url          = {http://dx.doi.org/10.4155/CMT.13.33},
  volume       = {4},
  year         = {2013},
}