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Luis Mundaca

Luis Mundaca

Professor

Luis Mundaca

Market behavior under the New Zealand ETS

Author

  • Jessika Luth Richter
  • Luis Mundaca

Summary, in 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.

Department/s

  • The International Institute for Industrial Environmental Economics

Publishing year

2013

Language

English

Pages

423-438

Publication/Series

Carbon Management

Volume

4

Issue

4

Document type

Journal article

Publisher

Taylor & Francis

Topic

  • Social Sciences Interdisciplinary

Status

Published

Project

  • Policy Intervention for a Competitive Green Energy Economy

ISBN/ISSN/Other

  • ISSN: 1758-3004