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Trading with permits CO2
VROBEL, Radim
In this diploma thesis about the trading of permits CO2 to focus on the issue of release of carbon dioxide in a European context and its control through a system of tradable CO2 - EU ETS. I focus on the first two trading period of the EU ETS, in terms of allocated permits, price trends, and number of permits traded in the two periods in selected EU countries and the Czech Republic. The aim is to determine how appears a system of tradable CO2 permits in selected EU countries and the Czech Republic in the context of fulfillment obligations to reduce CO2 emissions under the Kyoto Protocol. The work compare the situation in the Czech Republic with selected EU countries in selected indicators of specific emissions trading and CO2. The work seeks to determine to what extent the ETS helps in improving the situation of individual countries in absolute production of CO2. The first chapter introduces the issue of climate change. It explains what are greenhouse gases, greenhouse effect and how this effect works. It acquaints readers with one greenhouse gas and that is carbon dioxide. Then the work explains how climate change takes place and there is also described climate history of the Earth, which is necessary to closer understanding of the issue. Then follows the description of international organizations, which deal with climate protection and have international influence. The second chapter focuses on ways to solution climate change. The bigger attention is devoted to the trading with carbon dioxide, than the work explaines the functioning of the European ETS, its development and global influence on the production and reduction of CO2. Than is the chapter devoted to notes and obligations that are promised in the Kyoto Protocol and closer specified the position of the Czech Republic in this Convention. In the third chapter compares the work selected countries of the European Union, which are the largest issuers of the Union's carbon dioxide. If it is possible to compare states in terms of their commitments and reduce CO2 implementation of these commitments. It appears that a large part of the EU Member States fulfill their obligations only partially, and some states it does not meet at all. For some selected countries we can see even an absolute increase in these emissions. Production of CO2 emissions is expressed in the comparison of selected countries in various indicators such as a production of CO2 per GDP or per inhabitant or per hectare of forest. It seems that not all states have aligned their emissions, which are important for sustainable development in that states. The last part compares selected countries in terms of allocated permits in the first and second ETS trading period and describes the evolution of both periods. Finally we performed a detailed analysis of price trends of permits especially in the first ETS period.
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Competitiveness of the EU and it's environmental aspects
Demydova, Oksana ; Bič, Josef (advisor) ; Bartušková, Hana (referee)
The Bachelor thesis examines the impact of environmental aspects of the competitiveness of the European Union. The goal of the thesis is to clarify coherence between environmental objects and EU's development strategies and the impact of European environmental policy on the ompetitiveness of the European Union. In the first section different theoretical views on competitiveness are presented as well as the relation between economical and environmental objectives of the state. The second chapter takes into account the European concept of competitiveness in relation to the long-term development strategies of the EU and their environmental aspects. In the last part of the thesis the impact of the EU ETS on the EU's economy are analyzed along with possible options for achieving the environmental policy's objectives with other instruments.
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Analysis of the Influence of Emissions Trading on Investment Decisions in the Firm
Knesplová, Jana ; Hadrabová, Alena (advisor) ; Vojáček, Ondřej (referee)
This paper deals with issues in the influence emission trading has on investment decisions. It explains the system of emissions trading and focuses on the emergence and development of European emissions trading and describes its influence on the Czech Republic. It briefly describes questions of investment decisions in a company, in particular the methods and criteria of investment decisions. The main goal of the paper is to analyse the influence of emissions trading on investment decisions. The analysis is made using investment projects in a real company. With the help of economic evaluation of investments, it classifies variations of investment projects when the influence of emission trading is excluded or with different prices of emission allowances. Using this analysis, I will try to prove that emissions trading can disadvantage some investments, which would otherwise be economically effective and feasible.
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Competitiveness and Enviromental Protection in the EU
Havlíčková, Lenka ; Bič, Josef (advisor) ; Tunkrová, Věra (referee)
The bachelor thesis examines the impact of the EU environmental policy on the competitiveness in the region. Environmental measures are assesed in the context of macroeconomic competitiveness focusing on climate policy. The theoretical concept of competitiveness and EU climate policy is introduced and their interconnection evaluated. This is applied on the European emission trading system and partially on the situation in the Czech republic. As the direct relationship between environmental policy and competitiveness has not been proved, the empirical studies offer no consensus on potential nor real impacts of the European emission trading system on the EU competitiveness.
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Emissions Trading - Analysis Of Achievements
Perglerová, Eva ; Bič, Josef (advisor) ; Vondrušková, Barbora (referee)
This Master thesis analyses the European Union Emissions Trading Scheme (EU ETS). The aim is to analyse this instrument and its achievements. Emission allowances represent a new market instrument of the European Union's policy to reduce greenhouse gas emissions in order to combat the climate change. The first part of the thesis focuses on international climate negotiations, in particular on the Kyoto Protocol, which triggered the establishment of the EU ETS. The second part focuses on the system functioning and its achievements. The third part deals with the functioning of the EU ETS in the Czech Republic.
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EU environmental protection legislature and its impacts on the competitiveness of the European Union
Ouzký, Martin ; Štěpánek, Petr (advisor) ; Černý, Pavel (referee)
Although the global economic crisis and significant geopolitical changes have overshadowed the global interest in the issue of climate change, the question of a long term solution of world's alternating climate remains the main trigger of political debates all around the world. The European Union seeks to be the leader in this field. This thesis aims to describe the extensity of european enviromental legislature and the consequences of its implementation into the legal framework of European Union and confronts it with EU's long term aim to sustain competitiveness. The first part lists the main climate protection related legislative acts and strategies EU has prepared and implemented especially during the past ten years. Included in this part is a narrow review of Lisbon strategy and its follow-up Europe 2020. The second part of this thesis describes various theoretical approaches towards competitiveness. The third part offers views on how the climate protection legislature affects the competitiveness of EU itself and includes the confrontation of different strategies among EU and its global partners.
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EU ETS post 2012
Řezníčková, Dobroslava ; Slavíková, Lenka (advisor) ; Jílková, Jiřina (referee)
The thesis tells about an European Union Emission Trading Scheme revision. EU ETS is an economic instrument for CO2 emission reduction. The thesis focuses on analysis of revision from the view of scheme deregulation, rule stability, impacts on instalations and states' economics. Deregulation is important for more effectiveness in the market. Other part of the thesis focuses on the possibility of auction revenue use in state economics. Auction is the most important part of the EU ETS revision. Methodologies of the Public Choice are used for analysis -- bureaucracy growth effect, lobbying, market regulation, etc.
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Tax aspects of the emission allowances trading
Knupp, Aleš ; Pavel, Jan (advisor) ; Pavel, Jan (referee)
This study deals with questions regarding Carbon Dioxide allowances market. By giving an explanation of the most important terms and core coherences of the EU ETS system, it endeavours to provide thematic organized preview of the allowances as a whole. The work stands on several pillars which are essential for existence of the allowances market. I mainly talk about national legislation giving basic law framework, then National allocation plan and, on the international level, I refer to the Kyoto protocol and global connection of previously separated market systems on a worldwide scale. The work's goal is to expand on the theme of emission trading and draw out possible impacts on the individual emitents and the whole economy. The first chapter deals with allowances as a matter of czech legislation and financial accounting. In the following text I discuss a trading emission scheme and give readers a vivid example for practical illustration. The Last part is devoted to the future of trading and, in particular, to the implementation of the auction system which allows the producers to buy the allowances themselves.
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Impact of the EU ETS on the czech companies
Cejnar, Michal ; Jílková, Jiřina (advisor) ; Vojáček, Ondřej (referee)
Emission trading allowances are one of the new instrument of the environmental protection, which is, as an EU ETS component, influencing almost 400 czech companies with just about 500 air polluting sources in the Czech republic. This diploma thesis deals with the main impact of the EU ETS on the czech companies. The analysis is focused on the first trading period 2005 -- 2007 and on the first year of the second trading period 2008 -- 2012. Methodology of the analysis is based on the qualitative research with individual in-depth interviews with czech companies and is focused on the research of induced costs and diverse approach and motivations of the large and small companies within the EU ETS
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Srovnání základních parametrů systémů UK ETS a EU ETS
Vařecha, Jan ; Čamrová, Lenka (advisor) ; Lipka, David (referee)
Každý systém obchodování s emisními právy je založen na řadě parametrů definovaných ještě před spuštěním celého systému. Tyto parametry jsou stanoveny regulátorem, tj. zpravidla státem a jeho orgány. Jelikož se ale jedná o administrativní rozhodnutí, které je ovlivněno řadou rozličných faktorů, může při jeho přijímání dojít k řadě chyb, které narušují budoucí fungování systému obchodování s emisními právy, včetně systémů obchodování s právy na emise skleníkových plynů. Cílem této práce je popsat, které z výše uvedených základní parametrů jsou pro úspěšné a efektivní fungování systémů obchodování s právy na emise skleníkových plynů nezbytné a porovnat na základě těchto parametrů fungování systému UK ETS (systém obchodování s právy na emise skleníkových plynů zavedený ve Velké Británii) a EU ETS (systém obchodování právy na emise skleníkových plynů fungující v Evropské unii), zhodnotit jejich úspěšnost a nedostatky a posoudit, zda náklady vynaložené na jejich fungování byly přiměřené dosaženému snížení emisí skleníkových plynů.
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