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International Developments |
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 | Open Skies Agreement Provides a Glimpse of What's to Come in a Carbon-Regulated Environment
Given its contribution to climate change, expected growth rate and evolving regulatory environment, the commercial airline industry presents an interesting case study to learn how competitive dynamics may change in a carbon-regulated environment. There have been attempts made to regulate carbon emitted from commercial aviation. The Kyoto Protocol, for example, counts emissions from domestic airline sources in its targets. Emissions from international travel are omitted, however. While there is growing support to include international aviation under any successor treaty to Kyoto, it is far from certain that this will happen. As such, the EU has taken unilateral action by imposing higher landing fees based on a plane's greenhouse gas emissions (pending parliamentary approval). This arrangement would include not only internal EU flights (by 2011) but, very importantly, international flights that take off or land from the EU (by 2012). |
| State and Trends of the Carbon Market 2008 (The World Bank)
The carbon market is the most visible result of early regulatory efforts to mitigate climate change. Regulation constraining carbon emissions has spawned an emerging carbon market that was valued at US$64 billion in 2007. Its biggest success so far has been to send market signals for the price of mitigating carbon emissions. This, in turn, has stimulated innovation and carbon abatement worldwide, as motivated individuals, communities, companies and governments have cooperated to reduce emissions. The EU Emission Trading scheme is the major market for greenhouse gas (GHG) emission allowances, and is the engine, perhaps even the laboratory, of the global carbon market. |
| The European Union's Emissions Trading System in Perspective
To meet its obligations to reduce greenhouse gas (GHG) concentrations under the Kyoto Protocol, the European Union (EU) established the first cap-and-trade system for carbon dioxide emissions in the world starting in 2005. The first three-year trading period (2005-2007)-a trial period before Kyoto's obligations began-is now complete and, not surprisingly, has been heavily scrutinized. This report examines the development, structure, and performance of the EU-ETS to date, and provides insightful analysis regarding the controversies and lessons emerging from the initial trial phase. A PowerPoint presentation of this report is available here. |
| Tourism & Travel in the Green Economy ETC/UNWTO Symposium
The European Travel
Commission (ETC) and United Nations World Tourism Organization (UNWTO) joint symposium,
in collaboration with VisitSweden, convened in September 2009 to address the relationship between tourism, carbon
neutrality and the development of sustainable consumption and production. |
| Use of Green Taxes and Market instruments to Reduce Green House Gas Emissions in Canada
This briefing looks at how taxes and markets can be used to combat global warming. It concludes that tax measures, coupled with market forces, will be key to the fight against climate change and the ability of Canadian firms to adjust. Green taxes and green investment tax credits are needed if Canadian firms are to accelerate their technological adaptation to a carbon-priced world. As a complement to green taxes, a cap and trade system should be implemented, combining regulation with market forces via emissions trading. This is part of the Canadian Tax Reform. |
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