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The Challenges of GHG Emission Trading for Lithuania

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Author(s): Remigijus Čiegis | Dalia Štreimikienė

Journal: Engineering Economics
ISSN 1392-2785

Volume: 5;
Start page: 55;
Date: 2006;
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Keywords: climate change mitigation | GHG emission trading | flexible Kyoto mechanisms.

ABSTRACT
The article deals with the issues related to the implementationof EU emission trading scheme in Lithuania.The main objectives of the article are to analyse themain features and requirements of EU emission tradingscheme and to assess the impact of GHG emission tradingon economy through the energy price increase causedby carbon restrictions on energy sector.The aim of EU Emission trading scheme is to helpmember states to fulfil their Kyoto commitments at lowestcosts. In Lithuania GHG emissions in 2004 amounted to20.2 mill. t and were by 2.5 time lower Lithuania’s Kyotocommitments. The total number of allowances allocatedfor Lithuanian emission trading sector in both emissiontradingperiods was not imposed by Kyoto commitments.The main constraint for 2005-2007 is laid in Annex IIcriteria – not to allocate more allowances than it will beneeded. The quantity of allowances member state mayissue was governed by 11 common allocation criteria.While the directive does not explicitly prescribe a givennumber of allowances, each member state must respectthe criteria, which mean that in practice their leeway islimited. The general concern of EC is that if too manyallowances were issued there would be no scarcity, andno market develops.
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