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Item Details
| Title:
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LINKING EMISSIONS TRADING SYSTEMS
FIFTH REPORT OF SESSION 2014-15, REPORT, TOGETHER WITH FORMAL MINUTES RELATING TO THE REPORT |
| By: |
Great Britain: Parliament: House of Commons: Energy and Climate Change , Tim Yeo |
| Format: |
Paperback |
| List price:
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£11.00 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
0215081544 |
| ISBN 13: |
9780215081544 |
| Publisher: |
TSO |
| Pub. date: |
17 February, 2015 |
| Series: |
House of Commons Papers |
| Pages: |
43 |
| Synopsis: |
Carbon pricing is a necessary element in spurring climate change mitigation action. In this report it's argued that emissions trading, as an established and well recognised policy instrument for controlling greenhouse gas emissions, is increasingly popular and spreading around the world. As they develop, emissions trading systems should be designed so that they are compatible with each other. Aligning design elements early on will help improve the prospects of linking different systems in future and, therefore, maximise opportunities for cost-effective emissions reductions. As the world's oldest and largest market, the EU Emission Trading System will play a critical role in facilitating linking between different markets. Before it can do this, however, it must be seen as a credible market. The issue of surplus allowances must be addressed urgently and there should be moves to remove these from the system as soon as possible. Any new climate agreement must crucially allow parties to meet their Intended Nationally Determined Contribution's (INDCs) by transferring parts of their contributions to other parties and financing emissions reduction activities in other countries.The use of carbon markets will greatly improve the prospects of keeping global average temperatures below 2eC. Any agreement reached at the UNFCCC COP 21 in Paris at the end of 2015 should promote the use of carbon markets and facilitate the future linking of emissions trading systems. The UNFCCC could also play a critical role in providing basic standards including monitoring, reporting and verification. |
| Publication: |
UK |
| Imprint: |
TSO |
| Returns: |
Non-returnable |
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