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Corporate Responses to EU Emissions Trading

Jon Birger Skjśrseth & Per Ove Eikeland:  Corporate Responses to EU Emissions Trading: Resistance, Innovation or Responsibility(08.07.2013) A new book edited by FNI researchers Jon Birger Skjærseth and Per Ove Eikeland takes a systematic look at the responses of every major European industry covered by the EU Emissions Trading System (EU ETS).

Do the current surplus of allowances and the low carbon price mean that the EU Emissions Trading System (EU ETS) experiment has failed as a model for a global carbon market? The verdict depends on how (well) the system performed before the crisis fully unfolded and the prospects for fixing the system.

This study focuses mainly on the EU ETS potential, by exploring how the system has actually worked on the ground thorough a wide range of mechanisms. These include how corporate norms of responsibility are affected by the EU ETS and how economic incentives provide opportunities for innovation.

This study is the first systematic analysis of whether and how the EU ETS has promoted low-carbon corporate strategies in all major industry sector covered by the system: electric power, oil, steel, cement and pulp and paper. The long-term task is daunting: to promote almost full decarbonization of Europe by 2050 by reducing emissions and drive a wide range of low-carbon technologies into the market.

1. Introduction
By Jon Birger Skjærseth and Per Ove Eikeland

2. Analytical Framework
By Per Ove Eikeland and Jon Birger Skjærseth

3. Electric Power Industry
By Per Ove Eikeland

4. Oil Industry
By Jon Birger Skjærseth

5. Pulp and Paper Industry
By Lars H. Gulbrandsen and Christian Stenqvist

6. Cement Industry
By Anne Raaum Christensen

7. Steel Industry
By Jørgen Wettestad and Liv Arntzen Løchen

8. Comparative Analysis
By Jon Birger Skjærseth, Per Ove Eikeland, Anne Raaum Christensen, Lars H. Gulbrandsen, Arild Underdal and Jørgen Wettestad

9. Concluding Remarks and the Road Ahead
By Per Ove Eikeland and Jon Birger Skjærseth

Book endorsements

Harro van Asselt, Stockholm Environment Institute, Sweden:
'With greenhouse gas emissions trading schemes emerging worldwide, this thorough and original analysis of the pioneering scheme of the European Union is certainly timely. By showing how the EU ETS affects the behaviour of the companies it targets, this volume provides useful lessons for climate policy design while adding valuable empirical insights to studies of corporate governance.'

David G. Victor, Laboratory on International Law and Regulation, University of California at San Diego, USA:
'Getting serious about climate change requires engaging business. This new volume offers the best and most systematic look at how companies have responded to Europe's emission trading scheme - the world's largest and most promising effort to control the emissions that cause global warming. The authors examine all the most important industrial sectors with skill and insight.'

Further information:
   Book presentation at the publisher's website
   Read more about FNI's research on European energy and environmental politics
 The Fridtjof Nansen Institute (FNI) is an independent foundation engaged in research on international environmental, energy, and resource management politics.
The Institute maintains a multi-disciplinary approach, with main emphasis on political science, economics, and international law.

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