|Publication type:||Article in scientific journal|
|Type of review:||Peer review (publication)|
|Title:||Transfer patterns in Phase I of the EU Emissions Trading System : a first reality check based on cluster analysis|
Schmidt, Tobias S.
|Published in:||Climate Policy|
|Publisher / Ed. Institution:||Taylor & Francis|
|Subjects:||Cluster analysis; Account type; Community independent transaction log (CITL) data; Emission trading; EU ETS; Research agenda|
|Subject (DDC):||363: Environmental and security problems|
|Abstract:||In 2005, the world's largest Emissions Trading System (ETS) was introduced in the EU. Economic theory assumes high efficiency of such market-based instruments since companies have the flexibility to trade allowances. However, to date there is a lack of understanding on how companies have participated in the allowance markets. This article uses data on transfers of allowances between 2005 and the end of 2007, published by the EU in the Community Independent Transaction Log (CITL) after a five-year delay. We use cluster analysis to detect patterns in the data and differentiate transfer behaviour. We find that the vast majority of participants (7212 accounts) are rather passive in terms of transfers. Of these, more than half are hardly participating in the market at all, whereas one-third are accounts managed by another account belonging to the parent company. Opposed to that, 143 accounts show more active, but relatively diverse transfer behaviour. We also identify differences in sectoral representations, account types, and primary allocation across the seven clusters. While the passive accounts mostly belong to installations regulated under the EU ETS, the most active accounts are classified as ‘non-regulated account type'.|
|Fulltext version:||Published version|
|License (according to publishing contract):||Licence according to publishing contract|
|Departement:||School of Management and Law|
|Organisational Unit:||Center for Energy and Environment (CEE)|
|Appears in collections:||Publikationen School of Management and Law|
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Betz, R., & Schmidt, T. S. (2015). Transfer patterns in Phase I of the EU Emissions Trading System : a first reality check based on cluster analysis. Climate Policy, 16(4), 474–495. https://doi.org/10.1080/14693062.2015.1028319
Betz, R. and Schmidt, T.S. (2015) ‘Transfer patterns in Phase I of the EU Emissions Trading System : a first reality check based on cluster analysis’, Climate Policy, 16(4), pp. 474–495. Available at: https://doi.org/10.1080/14693062.2015.1028319.
R. Betz and T. S. Schmidt, “Transfer patterns in Phase I of the EU Emissions Trading System : a first reality check based on cluster analysis,” Climate Policy, vol. 16, no. 4, pp. 474–495, 2015, doi: 10.1080/14693062.2015.1028319.
Betz, Regina, and Tobias S. Schmidt. “Transfer Patterns in Phase I of the EU Emissions Trading System : A First Reality Check Based on Cluster Analysis.” Climate Policy, vol. 16, no. 4, 2015, pp. 474–95, https://doi.org/10.1080/14693062.2015.1028319.
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