Land transportation for passengers and merchandises is one of the major sources of CO2 emissions worldwide and urban toxic particles (NOx, fine particles…). Emissions are barely declining in OCDE countries and bound to grow in emerging countries due to the increase in standards of living and urbanization. This situation creates an important challenge for the mitigation of climate change: new technologies have been launched, a set of complementary policies has been designed both national and local, and consuming habits are changing.
Organizing Committee: Dominique Bureau, Anna Creti, Carolyn Fischer, Guy Meunier, Juan Pablo Montero, Thomas Sterner.
Coordinator: Jean-Pierre Ponssard
-Timing : November 9-10 2017
-Location: Ecole Normale Supérieure, 45 rue d’Ulm, Paris 5, France
– Free attendance but compulsory registration click here >>>
Acknowledgements: This third workshop is sponsored by the Chair Energy and Prosperity: Financing and Evaluation of the Energy Transition hosted by the Risk Foundation (Ademe, Air Liquide, Agence Française du Développement, Caisse des Dépôts, Mirova, Schneider Electric, SNCF with scientific affiliation to Ecole Polytechnique, Ecole Normale Supérieure and Ecole Nationale des Statistiques et de l’Administration Economique) and The EDF-Ecole Polytechnique chair for Sustainable Development. Partial support is also acknowledged from ANR/Investissements d’avenir and the Momentom project.
Output-based allocations (OBAs) are typically used in emission trading schemes to mitigate leakage in sectors at risk. Recent work has shown they may also help to stabilize prices in markets subject to supply and demand shocks. We extend previous work to simultaneously include both leakage and volatility.
The paper studies pollution permit markets in which a fraction of permits are allocated to firms based on their output. Output-based allocations, which are receiving increasing attention in the design of carbon markets around the world are shown to be optimal under demand and supply volatility despite the output distortions they may create.
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