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The European Union Emissions Trading...

Osses, Lennart David,

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The European Union Emissions Trading System and its Impact on Eco-Innovation /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	The European Union Emissions Trading System and its Impact on Eco-Innovation // Lennart David Osses.
作者:	Osses, Lennart David,
面頁冊數:	1 electronic resource (78 pages)
附註:	Source: Masters Abstracts International, Volume: 85-11.
Contained By:	Masters Abstracts International85-11.
標題:	Innovations. -
電子資源:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30972815
ISBN:	9798382428178

The European Union Emissions Trading System and its Impact on Eco-Innovation /
Osses, Lennart David,

The European Union Emissions Trading System and its Impact on Eco-Innovation /Lennart David Osses. - 1 electronic resource (78 pages)

Source: Masters Abstracts International, Volume: 85-11.

The European Union Emissions Trading System (EU ETS) is the world's most extensive emissionscap-and-trade system. The Porter Hypothesis states that a policy like the EU ETS can induce eco-innovation and ultimately alter the financial performance of regulatedfirms. Nevertheless, previous research has not yet comprehensively confirmed the validity of the Porter Hypothesis in cap-and-trade systems in general, and in the EU ETS specifically. Exploiting installation-level inclusioncriteria, the paper assesses the causal impact of the EU ETS on firm's eco-patent output and return on assets by followinga matched difference-in-difference approach. In line with the weak Porter Hypothesis, itis found that the second phase of EU ETS altered the eco-patent output of regulated firms in the sampleby 1.8%, mainly inducing innovationsin German companies.Reasons for therather low policy effect entail the innovation-impedingimpact ofthe Financial Crisis, an oversupply of allowances,and the subsidized deployment of renewable energy sources to electricity, which resulted in low permitprices. Contrary to the strong Porter Hypothesis, the policydid not enhance financial performance of regulated companies, which can be further expounded by the time lag associated with the profitability of eco-innovations. Deriving from the findings,policy makers should enact EU ETS reforms focused on decreasing the emission cap, introducing means to stabilize the allowance price, carefully assessing if the scheme can be extended to other sectors, and launching other eco-innovation enhancing instruments.

English

ISBN: 9798382428178Subjects--Topical Terms:

754112
Innovations.

The European Union Emissions Trading System and its Impact on Eco-Innovation /
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