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CO2 Sources and Emission Trading System
Valentová, Helena ; Sitek, Tomáš (referee) ; Elbl, Patrik (advisor)
This thesis deals with issues of carbon dioxide emissions, its sources and legislation related to emission trading. The first part of the thesis provides basic information about carbon dioxide and its production. The second part summarizes sectors that emit the most carbon dioxide. The last part describes the international legislation related to emission allowances and carbon trading.
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Protection of the Earth's climate system from the legal point of view
Polanská, Eva ; Žákovská, Karolina (advisor) ; Drobník, Jaroslav (referee)
Protection of the Earth's climate system from the legal point of view This thesis aims to provide a broad view of legal protection of the Earth's climate within its six chapters. The first three chapters explain drivers of climate change law. Protection of the climate system has stemmed not only from science, but also to a large extent from the political situation and the performance of the world economy. Therefore, after introduction the second chapter examines the scientific basis of climate change and its evolution in time. The third chapter outlines the history of international negotiations which led to the conclusion of the three most important international instruments regulating climate change - the Framework Convention on Climate Change, the Kyoto Protocol, and the EU ETS Directive. The fourth chapter discusses economic approaches to internalization of global warming costs. The core of the thesis analyzes the legal framework addressing climate change. The analysis is devoted to the backbone of international instruments laid down in the Framework Convention on Climate Change and the Kyoto Protocol, and to one of the most significant regional instruments - European emission allowances trading. Therefore, the fourth chapter on the Framework Convention on Climate Change examines the Convention...
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Legal Protection of the Earth's Climate
Vaverka, David ; Snopková, Tereza (advisor) ; Franková, Martina (referee)
In accordance with its title, this Thesis Aims to Analyse Legal Aspects of Climate protection. Therefore its structure comprises of Five major sections dedicated to offer substantial amounts of information on the topic of Climate Change and its Protection. The first section describes the Issue of Climate Change, the History of its Protection as well as necessary measures and certain difficulties to achieve a consensus usually occurring during international negotiations. The second, third, and forth sections address Legal Climate Protection at International, European Union, and National Levels. Finally, the closing fifth section not only summarizes all that has been stated in previous sections but also evaluates Efficiency of actions taken at the three levels mentioned. Furthermore, the last section suggests where the major efforts should be focused on in the forthcoming years. All in all, the main objective of all the sections introduced is to Highlight the Urgent Need for Effective and Coordinated Action taken by the Whole International Community based on Conscious and Mindful Doings of each and every Individual. This requirement is the very crucial precondition in order to keep the global rising temperature below 2 degrees celsius by the end of the 21st Century so that potential negative and...
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CO2 Sources and Emission Trading System
Valentová, Helena ; Sitek, Tomáš (referee) ; Elbl, Patrik (advisor)
This thesis deals with issues of carbon dioxide emissions, its sources and legislation related to emission trading. The first part of the thesis provides basic information about carbon dioxide and its production. The second part summarizes sectors that emit the most carbon dioxide. The last part describes the international legislation related to emission allowances and carbon trading.
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Legal Protection of the Earth's Climate
Vaverka, David ; Snopková, Tereza (advisor) ; Franková, Martina (referee)
In accordance with its title, this Thesis Aims to Analyse Legal Aspects of Climate protection. Therefore its structure comprises of Five major sections dedicated to offer substantial amounts of information on the topic of Climate Change and its Protection. The first section describes the Issue of Climate Change, the History of its Protection as well as necessary measures and certain difficulties to achieve a consensus usually occurring during international negotiations. The second, third, and forth sections address Legal Climate Protection at International, European Union, and National Levels. Finally, the closing fifth section not only summarizes all that has been stated in previous sections but also evaluates Efficiency of actions taken at the three levels mentioned. Furthermore, the last section suggests where the major efforts should be focused on in the forthcoming years. All in all, the main objective of all the sections introduced is to Highlight the Urgent Need for Effective and Coordinated Action taken by the Whole International Community based on Conscious and Mindful Doings of each and every Individual. This requirement is the very crucial precondition in order to keep the global rising temperature below 2 degrees celsius by the end of the 21st Century so that potential negative and...
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Walras equilibria and emission allowances
Kouřílek, Matěj ; Červinka, Michal (advisor) ; Chytilová, Julie (referee)
Global efforts to prevent climate change has been a catalyst for the emergence of many innovative ideas to mitigate this phenomenon. One of them was an introduction of emission markets where polluters share aggregate quantity of so-called pollution permits, e.g., the European Union emission trading system. This work analyses the behaviour of firms and a relation between the European Union Allowances quantity and their price on the Czech market. Furthermore, possible consequences of the EU emission trading system policy on the Czech emission and energy market are analyzed. To do so, we develop equilibrium model which uses an innovative concept of the Cournot-Nash-Walras equilibrium. The model estimates 25 and 14 percent increase in emission allowances price between years 2014-2015, and 2014-2020, respectively. We also find that non-innovating firm can lose significant market share.
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Establishment and Development of European Scheme for Greenhouse Gas Emission Allowance Trading
Ševčík, Jakub ; Žákovská, Karolina (advisor) ; Damohorský, Milan (referee)
The aim of this thesis is to describe and subsequently analyze the establishment and the development of the European legal regime for greenhouse gas emission allowance trading. Methodology of the thesis is focused on capturing the processes of establishment and development of the emission trading regime as processes of rather dynamic nature, having their causes and consequences, and so is not only an isolated description of each of their respective stages. The dynamics of development is analyzed within each of the basic elements of the emission trading regime, taking due account of the relevant case law of the Court of Justice of the EU. Given the considerable complexity of the subject concerned, and therefore also the need for integration of the analysis into a certain perspective, a brief explanation of the phenomenon of climate change, including its economic implications, as well as of the international legal framework set up to tackle this issue forms a part of this thesis.
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Protection of the Earth's climate system from the legal point of view
Polanská, Eva ; Žákovská, Karolina (advisor) ; Drobník, Jaroslav (referee)
Protection of the Earth's climate system from the legal point of view This thesis aims to provide a broad view of legal protection of the Earth's climate within its six chapters. The first three chapters explain drivers of climate change law. Protection of the climate system has stemmed not only from science, but also to a large extent from the political situation and the performance of the world economy. Therefore, after introduction the second chapter examines the scientific basis of climate change and its evolution in time. The third chapter outlines the history of international negotiations which led to the conclusion of the three most important international instruments regulating climate change - the Framework Convention on Climate Change, the Kyoto Protocol, and the EU ETS Directive. The fourth chapter discusses economic approaches to internalization of global warming costs. The core of the thesis analyzes the legal framework addressing climate change. The analysis is devoted to the backbone of international instruments laid down in the Framework Convention on Climate Change and the Kyoto Protocol, and to one of the most significant regional instruments - European emission allowances trading. Therefore, the fourth chapter on the Framework Convention on Climate Change examines the Convention...
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Decision of a Steel Company Trading with Emissions
Zapletal, F. ; Šmíd, Martin
We formulate a Mean-CVaR decision problem of a production company obliged to cover its CO2 emissions by allowances. Certain amount of the allowances is given to the company for free, the missing/redundant ones have to be bought/sold on a market. To manage their risk, the company can use derivatives on emissions allowances (in particular futures and options), in addition to spot values of allowances. We solve the decision problem for the case of an real-life Czech steel company for different levels of risk aversion and different scenarios of the demand. We show that the necessity of emissions trading generally, and the risk caused by the trading in particular, can influence the production significantly even when the risk is decreased by means of derivatives. The results of the study show that even for low levels of the risk aversion, futures on allowances are optimal to use in order to reduce the risk caused by the emissions trading.
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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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