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Market behavior under the New Zealand ETS

Author:
  • Jessika Luth Richter
  • Luis Mundaca
Publishing year: 2013
Language: English
Pages: 423-438
Publication/Series: Carbon Management
Volume: 4
Issue: 4
Document type: Journal article
Publisher: Future Science

Abstract english

The New Zealand emissions trading scheme (NZ ETS) is one of the first national-level GHG trading schemes outside Europe. It is also unique in its design and comprehensive sectoral coverage, including forestry. This paper provides an ex-post-assessment of market behavior in the NZ ETS in its first phase (2008-2012). Findings are based on quantitative evidence on prices and units, as well as qualitative information from interviews and questionnaires of key market participants and authorities. The analytical approach is based on the entire set of flexibilities granted to obliged parties to reduce GHG emissions cost effectively; that is, access to Kyoto Units, range of eligible measures, banking provision, market engagement of non-obliged parties and trading as such. Findings reveal that market behavior responds to the unique design of the NZ ETS, in particular to the access and price of Kyoto Units.

Keywords

  • Social Sciences Interdisciplinary

Other

Published
  • ISSN: 1758-3004
Jessika Luth Richter
E-mail: jessika_luth.richter [at] iiiee.lu.se

Doctoral student

The International Institute for Industrial Environmental Economics

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+46 72 944 22 97

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