| Publikationstyp: | Beitrag in wissenschaftlicher Zeitschrift |
| Art der Begutachtung: | Peer review (Publikation) |
| Titel: | The role of banks in EU emissions trading |
| Autor/-in: | Cludius, Johanna Betz, Regina |
| et. al: | No |
| DOI: | 10.5547/01956574.41.2.jclu |
| Erschienen in: | The Energy Journal |
| Band(Heft): | 41 |
| Heft: | 2 |
| Seite(n): | 275 |
| Seiten bis: | 299 |
| Erscheinungsdatum: | 2020 |
| Verlag / Hrsg. Institution: | IAEE |
| ISSN: | 0195-6574 |
| Sprache: | Englisch |
| Schlagwörter: | Banks; EU ETS; EUTL; Trading strategy |
| Fachgebiet (DDC): | 332.1: Banken 363: Umwelt- und Sicherheitsprobleme |
| Zusammenfassung: | This paper is an empirical investigation of the role of banks in the EU Emissions Trading System (EU ETS). This topic is of particular interest considering that banks are responsible for a large and increasing share of overall transactions under the EU ETS and that they provide regulated companies with services related to emissions trading. Using both semi-structured interviews as well as descriptive and regression analysis, we investigated the different roles banks play in EU emissions trading and whether their importance as trading partners differs in relation to different types of regulated companies. Our regressions based on data from the first trading period of the EU ETS show that large companies with trading experience are more likely to choose a trading strategy involving interaction with a range of financial intermediaries, in particular banks or exchanges, than smaller, less professionalized companies, which tend to follow a trading strategy involving brokers (in particular for selling allowances). These findings can help policymakers decide on the level of involvement of non-regulated companies in their systems, which is currently allowed to varying degrees under different ETS. We recommend that this decision should be closely linked to provisions of market oversight and the level of control over the different types of financial players active in emissions trading. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/19229 |
| Volltext Version: | Publizierte Version |
| Lizenz (gemäss Verlagsvertrag): | Lizenz gemäss Verlagsvertrag |
| Departement: | School of Management and Law |
| Organisationseinheit: | Zentrum für Energie und Umwelt (CEE) |
| Enthalten in den Sammlungen: | Publikationen School of Management and Law |
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Cludius, J., & Betz, R. (2020). The role of banks in EU emissions trading. The Energy Journal, 41(2), 275–299. https://doi.org/10.5547/01956574.41.2.jclu
Cludius, J. and Betz, R. (2020) ‘The role of banks in EU emissions trading’, The Energy Journal, 41(2), pp. 275–299. Available at: https://doi.org/10.5547/01956574.41.2.jclu.
J. Cludius and R. Betz, “The role of banks in EU emissions trading,” The Energy Journal, vol. 41, no. 2, pp. 275–299, 2020, doi: 10.5547/01956574.41.2.jclu.
CLUDIUS, Johanna und Regina BETZ, 2020. The role of banks in EU emissions trading. The Energy Journal. 2020. Bd. 41, Nr. 2, S. 275–299. DOI 10.5547/01956574.41.2.jclu
Cludius, Johanna, and Regina Betz. 2020. “The Role of Banks in EU Emissions Trading.” The Energy Journal 41 (2): 275–99. https://doi.org/10.5547/01956574.41.2.jclu.
Cludius, Johanna, and Regina Betz. “The Role of Banks in EU Emissions Trading.” The Energy Journal, vol. 41, no. 2, 2020, pp. 275–99, https://doi.org/10.5547/01956574.41.2.jclu.
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