In addition to the challenge of reducing emissions to 80% below 1990 levels by 2050, the EU has to be prepared to respond suitably to different external factors. Two of the most critical factors for success in meeting this target are: (i) what climate policies other countries will follow and (ii) how governance rules will evolve within the EU? Given that supranational governance scenarios are going to be crucial for the effectiveness and feasibility of EU climate policy, the aim of this document is to assess EU instrument options under different scenarios and come up with general insights for EU policy makers. Therefore, this report analyses climate instrumentation in two international governance scenarios and two EU governance scenarios.
Attachment:
Citation:
Funding:
Year of publication:
Number of pages:
Table of contents:
|
Executive summary |
5 |
1 |
Introduction |
10 |
2 |
Governance Scenarios |
11 |
2.1 |
International Governance |
11 |
2.1.1 |
Current features of International Governance |
13 |
2.1.2 |
Non-global-deal Scenario |
14 |
2.1.3 |
Middle-of the-road scenario |
16 |
2.2 |
EU Governance |
17 |
2.2.1 |
Current features of EU governance |
18 |
2.2.2 |
EU centralised scenario |
20 |
2.2.3 |
EU decentralised scenario |
22 |
3 |
Assessment of Instrument Packages in each Governance Scenario |
24 |
3.1 |
Instrument packages |
24 |
3.1.1 |
Technology-specific pathway |
24 |
3.1.2 |
ETS pure-cap pathway |
25 |
3.1.3 |
ETS price stabilized pathway |
26 |
3.1.4 |
Emission tax pathway |
28 |
3.2 |
Implications of the international governance context |
29 |
3.2.1 |
Climate instrumentation under a Non-global-deal scenario |
31 |
3.2.2 |
Climate instrumentation under a Middle-of-the-road scenario |
39 |
3.3 |
Implications of the EU governance |
47 |
3.3.1 |
Climate instrumentation under a EU centralised scenario |
48 |
3.3.2 |
Climate instrumentation under a EU decentralised scenario |
55 |
4 |
Conclusions |
62 |
|
References |
65 |
|
Annex |
70 |