Tradable instruments to fight climate change: A disappointing outcome
Résumé
Various tradable instruments have been implemented for climate change mitigation: emission trading systems, tradable energy-efficiency obligations, and tradable renewable energy quotas. Their track record has been disappointing so far: almost every emission trading has suffered from over-allocation which has undermined its effectiveness; tradable energy-efficiency obligations seem to have mostly co-financed investments that would have taken place anyway; tradable renewable energy quotas suffer from several shortcomings compared to alternative support systems, i.e., feed-in tariffs and premiums. I discuss the reasons for these failures (especially too superficial a reading of the work of researchers by policy makers) and ways to improve the situation (including encouraging systematic syntheses of academic work).
Domaines
Economies et finances
Origine : Fichiers produits par l'(les) auteur(s)