Has emissions trading reduced emissions from Norwegian firms?
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Hedne, Maren Holthe
The European Union Emissions Trading System (EU ETS) has been the cornerstone climate policy of the EU since 2005. It regulates around half of EU greenhouse gas emissions, yet its actual impact - nationally and across the Union - is uncertain. Applying Norwegian administrative plant-level data from 2001 to 2019, this paper contributes new and updated evidence of the impact on Norwegian ETS firms, compared to the counterfactual scenario of non-ETS firms. I estimate an impact at around 20 % lower emissions in phase II (2008-2012). Surprisingly, I estimate around 30 % higher emissions in phase III (2013-2019). While estimates vary somewhat across model specifications, the sign and relative magnitude are consistent. I present a brief discussion of the findings, and leave some recommendations for future research.
Prosjekt info:Oppdragsgiver: NFR via CICERO
Oppdragsgivers prosjektnr.: 295789
Frisch prosjekt: 3186 - PLATON