UK Emissions Policy Options
Available to download free of charge
City of London / CEAG Report - October 2008
Published by the City of London, this CEAG paper sets the context and describes the opportunities for London arising from market developments in emissions trading and the related emerging climate markets. In this report, the current stages of development of the international Kyoto-based emissions market, the mandatory regional and national markets around the world, and the international voluntary market, are reviewed.
An assessment is made of the contribution of the different asset classes of allowances that are trading in the market, their relative values and how they are linked. The transaction log and registry system that controls the international transfer of emissions allowances is described, and a method proposed whereby the UK registry could be adapted to overcome the limitations of this system to facilitate international trade conducted through the UK.
Finally, the paper looks ahead to consider the range of likely outcomes of the negotiations on a new Kyoto deal post-2012 and the UK's role in these discussions and suggests a framework whereby complementary policies of the Greater London Authority and the City of London could be coordinated with UK national climate change policy.
Download a pdf of this report
UK Emissions Policy Options
Available to download free of charge
City of London / CEAG Report - October 2008
Published by the City of London, this CEAG paper sets the context and describes the opportunities for London arising from market developments in emissions trading and the related emerging climate markets. In this report, the current stages of development of the international Kyoto-based emissions market, the mandatory regional and national markets around the world, and the international voluntary market, are reviewed.
An assessment is made of the contribution of the different asset classes of allowances that are trading in the market, their relative values and how they are linked. The transaction log and registry system that controls the international transfer of emissions allowances is described, and a method proposed whereby the UK registry could be adapted to overcome the limitations of this system to facilitate international trade conducted through the UK.
Finally, the paper looks ahead to consider the range of likely outcomes of the negotiations on a new Kyoto deal post-2012 and the UK's role in these discussions and suggests a framework whereby complementary policies of the Greater London Authority and the City of London could be coordinated with UK national climate change policy.
Download a pdf of this report