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dc.contributor.advisorEskeland, Gunnar
dc.contributor.authorRaunio, Senni Sofia Karoliina
dc.date.accessioned2020-09-21T11:19:22Z
dc.date.available2020-09-21T11:19:22Z
dc.date.issued2020
dc.identifier.urihttps://hdl.handle.net/11250/2678782
dc.description.abstractThis thesis investigates the correlation of the emissions and tradable allowances within specific sectors of the European Union’s Emission Trading Scheme, in four Nordic countries: Denmark, Finland, Norway and Sweden. The EU ETS is the corner stone of the EU’s climate policies; it is a carbon market based on cap-and-trade mechanism. The idea is, that a carbon tonne has a price and one carbon tonne is equivalent of one emitting permit called an allowance. The EU ETS covers approximately 45% of the GHG emissions in EU with over 11,000 energy intensive installations. It has been in use for three Phases now, since 2005. The Phase IV begins in 2021 and ends in 2030. The system has been criticised multiple times over the years, and it has gone through reforms and expansions to new sectors in order to enhance the system. In this thesis, the relationship of the variables emissions and allowances is looked in the carbon market in the European Union, by comparing the sectors of all stationary installations, combustion of fuels and refining of mineral oil in the countries over the 14 years, 2005-2019. Besides the carbon market, the Nordic climate ambitions and policies is researched. Based on this research, the carbon trading does work in theory cost-effectively but as in reality this is not always the case. The system is complex and the differences between the sectors and countries affect the emissions trends, which might disturb the logic behind the scheme. In theory the carbon market is meant to work so that decreasing the cap leads to decrease in emissions. However, in the researched sectors in the four countries, this was not systematically the case. EU ETS is an interesting and important flagship policy for Europe, and it has been successful in setting a price for carbon after the system has been modified over the 14 years it has been in use. Many possibilities lie within the trading scheme and the future of it as part of the European Union’s new Green Deal is crucial in order to achieve the climate goals of the Member States, and the region. EU ETS can be seen as something unique globally, since it is the largest carbon market in the world. If EU ETS is successful, it is possible that other regions can achieve emissions reductions with similar system. Keywords: EU ETS, GHG emissions, allowances, carbon market, polluter pays principle, Nordics, climate policies, climate changeen_US
dc.language.isoengen_US
dc.subjectenvironmenten_US
dc.subjectenergyen_US
dc.subjectnatural resourcesen_US
dc.titleEmissions reduction in the Nordics : detecting sectoral differences over the three Phases of EU ETSen_US
dc.typeMaster thesisen_US
dc.description.localcodenhhmasen_US


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