Iron and steelmaking is the industrial sector with the highest absolute CO2 emissions covered by the European Union Emissions Trading System (EU ETS). This report aims to describe key developments of the sector in the period from 2005 to 2019. It identifies key drivers behind the trends in...

Recycling of raw material can make a significant contribution to achieving climate neutrality by 2050. Carbon pricing can encourage material recycling by making it more competitive with waste incineration and primary material production. However, accounting for the interactions among different...

Das Ziel der Bundesregierung ist es laut Koalitionsvertrag, "die Erderwärmung auf maximal zwei Grad Celsius zu begrenzen und Deutschlands Vorreiterrolle beim Klimaschutz beizubehalten". Zum Erreichen dieses Ziels sollen die deutschen Treibhausgasemissionen bis zum Jahr 2020 um 40 Prozent...

In the European Emission Trading scheme the supply of allowances exceeds emissions - cumulating, according to our estimates, in a surplus of 2.7 billion tonnes by 2013/2014. We find that initially the surplus was acquired by power companies so as to hedge future carbon costs. As the surplus...

In the European Emissions Trading System, power generators hold CO2 allowances to hedge for future power sales. First, we model their aggregate hedging demand in response to changes in expectations of future fuel, carbon and power prices from forward prices. This partial equilibrium analysis is...