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How can REDD credits be included in a future global carbon market, and what are the impacts of inclusion? We analyze ten different scenarios through 2020, varying the global emission caps and the REDD rules. An inclusion of REDD credits without any adjustments in the global cap will lower carbon prices significantly and cause crowding out. The cap must move towards the 2 degrees climate target if REDD inclusion is to maintain high carbon prices and strong incentives for emissions reductions in other sectors. At the same time, reaching the 2 degree target without full REDD inclusion will increase global mitigation costs by more than 50%.

Emissions trading. --- Deforestation --- Control. --- Control of deforestation --- Forest conservation --- Forest protection --- Air --- Emissions credit trading --- Emissions rights trading --- Marketable permits for carbon dioxide emissions --- Tradeable emission permits --- Trading emissions credits --- Environmental policy --- Carbon offsetting --- Carbon taxes --- Pollution --- Emissions trading

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Emissions trading challenges the management of companies in an entirely new manner: Not only does it, like other market-based environmental policy instruments, allow for a bigger flexibility in management decisions concerning emission issues. More importantly, it shifts the mode of governance of environmental policy from hierarchy to market. But how is this change reflected in management processes, decisions and organizational structures? The contributions in this book discuss the theoretical implications of different institutional designs of emissions trading schemes, review schemes that have been implemented in the US and Europe, and evaluate the range of investment decisions and corporate strategies which have resulted from the new policy framework.

Emissions trading. --- Industrial management --- Environmental aspects. --- Air --- Emissions credit trading --- Emissions rights trading --- Marketable permits for carbon dioxide emissions --- Tradeable emission permits --- Trading emissions credits --- Environmental policy --- Carbon offsetting --- Carbon taxes --- Pollution --- Emissions trading --- Leadership. --- Environmental economics. --- Management. --- Business Strategy/Leadership. --- Environmental Economics. --- Administration --- Industrial relations --- Organization --- Economics --- Environmental quality --- Ability --- Command of troops --- Followership --- Environmental aspects --- Economic aspects

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‘The authors have followed the ins-and-outs and many twists of the EU Emissions Trading System story, writing with curiosity, insight, detail and wit about the complicated European coalitions that delivered the “mission possible” back-loading and market stability reserve reforms. Not only researchers, but also participants to the process can learn something about how we got to where we stand today.’ – Jesse Scott, Head of Environment at Eurelectric 2012-14 ‘Europe’s Emission Trading Scheme is the world’s biggest attempt to use markets to cut pollution. This timely and important book shows how smart political engineering has led to radical reforms that are saving Europe’s trading system and making it, once again, a model for many other countries.’ – David G. Victor, Professor, School of Global Policy and Strategy, UC San Diego, USA 'Another book on the EU’s Emissions Trading Scheme? Yes, and Wettestad and Jevnaker demonstrate the added value! They deliver a fascinating analysis of recent developments of the EU flagship climate policy that has much to tell. Their systematic study reveals the undercurrents that have driven recent ETS policy development and are likely to remain relevant for EU climate policy in future.' – Sebastian Oberthür, Professor, Institute for European Studies, Vrije Universiteit Brussels, Belgium This book tells the fascinating story of how the EU’s emissions trading system – its climate policy flagship - was rescued. In spring 2013 the ETS was in severe crisis, with a huge surplus of allowances and a sagging carbon price. Even a formally simple measure to change the timing of auctioning was initially rejected by the European Parliament. Two years later a much more important ‘market thermostat’ was adopted (i.e. the Market Stability Reserve) and proposals for a complete ETS overhaul were put on the table. This book examines and explains how it was possible to turn the flagship around so quickly. Crucial changes at national and EU levels are identified, chief among them in Germany and the European Parliament. Jørgen Wettestad is Research Professor at the Fridtjof Nansen Institute in Oslo, Norway. He has published several books and numerous articles on international and EU environmental policy, with particular attention to emissions trading. Torbjørg Jevnaker is Research Fellow at the Fridtjof Nansen Institute in Oslo, Norway. She has contributed to books and journals on EU energy and environmental policy, particularly emissions trading, climate and energy packaging and internal energy market policy.

Political science. --- Public policy. --- Political Science and International Relations. --- Public Policy. --- Emissions trading --- Law and legislation --- Air --- Emissions credit trading --- Emissions rights trading --- Marketable permits for carbon dioxide emissions --- Tradeable emission permits --- Trading emissions credits --- Pollution --- Environmental policy --- Carbon offsetting --- Carbon taxes --- Europe --- EU countries --- Euroland

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Empirical and theoretical perspectives on the first two phases of the European Emissions Trading Scheme, the largest cap-and-trade market established so far.

E-books --- Emissions trading --- Environmental policy --- Economic aspects --- Environment and state --- Environmental control --- Environmental management --- Environmental protection --- Environmental quality --- State and environment --- Environmental auditing --- Air --- Emissions credit trading --- Emissions rights trading --- Marketable permits for carbon dioxide emissions --- Tradeable emission permits --- Trading emissions credits --- Carbon offsetting --- Carbon taxes --- Government policy --- Pollution --- ECONOMICS/Environmental Economics --- ENVIRONMENT/Environmental Politics & Policy

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Greenhouse gas (GHG) offsets have long been promoted as an important element of a comprehensive climate policy approach. Offset programs can reduce the overall cost of achieving a given emission goal by enabling emission reductions to occur where costs are lower. Offsets have the potential to deliver sustainability co-benefits, through technology development and transfer. They can also develop human and institutional capacity for reducing emissions in sectors and locations not included in a cap and trade or a mandatory government policy. However, offsets can pose a risk to the environmental in

Carbon offsetting. --- Emissions trading. --- Environmental Sciences --- Sustainable Development --- Air --- Emissions credit trading --- Emissions rights trading --- Marketable permits for carbon dioxide emissions --- Tradeable emission permits --- Trading emissions credits --- Environmental policy --- Carbon offsetting --- Carbon taxes --- Carbon offset trade --- Carbon trading --- Carbon dioxide mitigation --- Emissions trading --- Pollution