气候变化领域集成服务门户(CCPortal): Reviewing the Market Stability Reserve in light of more ambitious EU ETS emission targets

CCPortal

DOI	10.1016/j.enpol.2021.112530
	Reviewing the Market Stability Reserve in light of more ambitious EU ETS emission targets
	Osorio S.; Tietjen O.; Pahle M.; Pietzcker R.C.; Edenhofer O.
发表日期	2021
ISSN	0301-4215
卷号	158
英文摘要	The stringency of the EU's Emission Trading System (ETS) is bound to be ratcheted-up to deliver on more ambitious goals as formulated in the EU's Green Deal. Tightening the cap needs to consider the interactions with the Market Stability Reserve (MSR), which will be reviewed in 2021. We analyse these issues using the model LIMES-EU. First, we examine how revising MSR parameters impacts allowance cancellations. We find that varying key design parameters leads to cancellations in the range of 2.6–7.9 Gt – compared to 5.1 Gt under current regulation. Overall, the bank thresholds, which define when there is intake to/outtake from the MSR, have the highest impact. Intake rates above 12% only have a limited effect, and cause oscillatory intake behaviour. Second, we analyse how more ambitious climate 2030 targets can be achieved by adjusting the linear reduction factor (LRF). We find that the LRF increases MSR cancellations substantially up to 10.0 Gt. This implies that increasing its value from currently 2.2% to only 2.6% could be consistent with an EU-wide target of −55% by 2030. However, MSR cancellations are subject to large uncertainty, which increases the complexity of the market and induces high price uncertainty. © 2021 The Authors
英文关键词	EU climate Policy; EU ETS Phase IV; EU ETS reform; Linear reduction factor (LRF); Market stability reserve (MSR)
语种	英语
scopus关键词	Commerce; Gas emissions; Lime; EU climate policy; EU emission trading system phase IV; EU emission trading system reform; EU Emissions Trading Systems; Linear reduction; Linear reduction factor; Market stability; Market stability reserve; Reduction factor; Stability reserve; Emission control; emission inventory; emissions trading; environmental economics; environmental policy; European Union; price dynamics; uncertainty analysis; Europe
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256561
作者单位	Potsdam Institute for Climate Impact Research (PIK), Member of the Leibniz Association, P.O. Box 60 12 03, Potsdam, D-14412, Germany; Technical University, Berlin, Germany; Mercator Research Institute on Global Commons and Climate Change, Berlin, Germany
推荐引用方式 GB/T 7714	Osorio S.,Tietjen O.,Pahle M.,et al. Reviewing the Market Stability Reserve in light of more ambitious EU ETS emission targets[J],2021,158.
APA	Osorio S.,Tietjen O.,Pahle M.,Pietzcker R.C.,&Edenhofer O..(2021).Reviewing the Market Stability Reserve in light of more ambitious EU ETS emission targets.Energy Policy,158.
MLA	Osorio S.,et al."Reviewing the Market Stability Reserve in light of more ambitious EU ETS emission targets".Energy Policy 158(2021).