Reform of the Emission Trading System
future contribution of the ETS sectors should be defined on the basis of a detailed analysis and should not go beyond what is cost effective • Changes to the ETS cap: the introduction of a modified Linear Reduction Factor (LRF) should take place as 1 See here our policy note on the 2030 Targets Plans Communication
Building High-Leverage Practices (HLPs) into - ETS Home
Building the ETS® NOTE Assessments to Measure HLPs Nicole Garcia Mathematics Research and Design Specialist TeachingWorks Eric Steinhauer Executive Director, ETS® National Observational Teaching Exam (NOTE) ETS
Putting a Price on Carbon with an ETS - World Bank
Putting a Price on Carbon with an ETS Defining Emissions Trading Schemes (ETS) An ETS – or cap-and-trade program – is managed by a governing jurisdiction that sets a limit or a cap on the total level of covered GHG emissions – including CO 2 The allowances to emit are to distributed
Examination Tools Suite (ETS) PIA
types of records This data is loaded into ETS by authorized RMS examination staff The asset/loan records provided by financial institutions may include PII, such as the borrower’s full name, bank account number/borrower identification number, loan/note number(s), outstanding balance(s), and other information detailed in Section 1 0 of this PIA
BRS Training Brief
note, SSI/SSDI verification) would still be required Unfortunately, this is not something that VR can pay for through pre-ETS funding, so the student or a family member would need to provide documentation, or the VR counselor or pre-ETS provider could get a release to send for the disability documentation
Elementary Education: Three Subject Bundle study - ETS Home
The Praxis® Study Companion 5 Step 1: Learn About Your Test 1 Learn About Your Test Learn about the specific test you will be taking Elementary Education: Three Subject Bundle—Mathematics, Social
Guidance note on interpretation of the Scope of the EU ETS
ETS Directive, which is the scope of the EU ETS from 2013 onwards Member States may use this guidance already when they perform the data col- lection pursuant to Article 9a(2), which is to be carried out by 30 April 2010
Contact Person: Division of Legal Support, ORA, OPPPI, and
NOTE: Items highlighted in yellow are subject to change Page 2 RECOMMENDED ACTION Staff of the Department of Labor and Industry recommends that the Safety and
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Putting a Price on Carbon with an ETS
Defining Emissions Trading Schemes (ETS)
An ETS - or cap-and-trade program - is managed by a governing jurisdiction that sets a limit or a cap on
the total level of covered GHG emissions - including CO2 . The allowances to emit are distributed to liable entiti es (direct emission sources or others) that must redeem allowances for every emitted ton of CO 2 , with the possibility to buy additional allowances or sell unused ones. As liable entities consider the cost of their emissions within their production processes and the possibility to buy or sell allowances, a market for CO2 emerges, setting a price on CO 2 that acts as a reduction incentive for all liable entities. This price influences decisions both in the short-term management of existing assets and in the longer-term direction of investments. 1An ETS - as opposed to a tax
- is a quantity-based policy, i.e., it offers certainty over the environmentaloutcome (i.e., "cap") but leaves it to the market (i.e., "trade") to set the price of carbon. ETS around the World
Emissions trading was first experimented in the U
nited States, through an amendment to the U.S CleanAir Act (1990) that introduced a market-based regulation to control sulfur dioxide emissions from coal-
burning electric utility plants - the primary cause of acid rain. ETS has since been widely developed, notably for the control of GHG emissions in climate change mitigation policies.An ETS can set a carbon price uniformly across a number of different sectors of the economy. Regulation
occurs either at the point where GHGs are released into the atmosphere (e.g., coal -fired power 1Definition combined and adapted from OECD, 2013. "Climate and carbon - Aligning prices and policies". OECD Environment
Policy paper n°01, and Trotignon, Raphaël, 2012. "In search of the carbon price
: "The European CO2 emission trading scheme:from ex ante and ex post analysis to the protection in 2020" Economic Thesis from University Paris Dauphine. Summary of Key Findings:
An ETS is an explicit carbon pricing instrument that limits or caps the allowed amount of GHG emissions and lets market forces disclose the carbon price through emitters trading emissions allowances.35 countries (incl. 28 in the EU) and 20 subnational jurisdictions have adopted
emissions trading programs.generators under the EU ETS or RGGI), or further downstream with the distribution or use of a product
(e.g., distributors of petroleum products for transport and heating , such as in California's ETS). Figure 1 - ETS in operation around the world as of December 2014Jurisdiction Start
date Power & heatIndustry Liquid
fuelsBuildin
g Trans portWaste Forest Cov. (%) Cov.
(Mt CO 2 e)EU ETS (28+3) 2005 45% 2,000
New Zealand 2008 50% 37
Kazakhstan 2013 55% 153
Switzerland 2013 7% 3.5
Republic of
Korea2015 60% 400
RGGI (9) 2009 22% 104
California
22013 85% 395
Alberta 2007 45% 108
Quebec 2013 85% 61
China's Pilots
(7)2013 70% 1,000
Tokyo2013 20% 13
TOTAL 4,275
Source: own compilation from various sources.
ETS feature different designs, mostly related to the way the allowances are distributed to compliance
entities (e.g., free versus auctioned) or to the way the price is stabilized and contained (e.g., price ceiling
and floor, use of offsets etc.). This diversity reflects countries' specific concerns over domesticcompetitiveness in the sectors regulated by the ETS. It is exemplified in the seven pilot ETS in China
where a range of approaches were encouraged by the Chinese National Development and Reform Commission (NDRC) in order to inform the development of China's national ETS expected to start as early as 2016. 3 2California's cap and trade program covers about 35% of the state's GHG emissions but will expand to 85% from 2015 with the
inclusion of the fuels sector. 3Pilots are in the municipalities of Beijing, Chongqing, Tianjin, Shanghai, Shenzhen, and provinces of Hubei and Guangdong.
Economic Effectiveness
Beyond the certainty
of meeting environmental objective (i.e., the cap), an ETS is also a cost-effective way to use available resources to promote GHG reductions and comply with environmental objectives - as explained above. In addition, auctions generate government revenue that can be used to lower financing costs of GHG abatement investments and facilitate low-carbon transformation. Beyond environmental issues, auctions proceeds can be earmarked to balance the general budget or to addressequity issues such as through paying for reductions in users' electricity bills or some distortionary taxes.
Use of Auction Proceeds in RGGI States
Figure 2 - RGGI investments by category (2009-2011)Source: adapted from RGGI, Inc.
From the start of the regional ETS in 2008, RGGI states 4 chose to distribute approximately 90% of theemissions allowances to the regulated electricity producers through quarterly auctions. Under the first
compliance period (2008-2011) auctions raised about US$826 million in public revenue. US$617 million were invested byRGGI states in climate related programs,
5 such as energy efficiency measures inresidential and commercial facilities (US$1.2 billion of electricity bill savings generated over 2009-2011),
direct electricity bill assistance, support to renewable power generation, various other environment related programs and outreach activities, and ETS administration (see Figure 2). 6Emerging ETS Initiatives
Several other countries or sub-national jurisdictions are advancing preparations for introduction of an
ETS. These include China, which seeks to establish a national ETS as early as 2016, Mexico, Turkey, Russia, Ukraine, and the municipality of Rio de Janeiro in Brazil. 4RGGI covers emissions from power plants in the Northeast and Mid-Atlantic U.S. States, namely: Connecticut, Delaware,
Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. 5US$93.1 were transferred to states' general budgets, and US$114,5 were set aside for future programs.
6 RGGI, Inc., (2012). Regional Investment of RGGI CO2 Allowance Proceeds, 2011.quotesdbs_dbs29.pdfusesText_35