Climate system protection from the legal point of view Climate change seems to be a defining ecological issue of the 21st century. However, unlike other global threats there are still some scientific uncertainties about the gravity of this problem and its actual consequences. On the other hand the proven fact is that the Earth climate is affected by altered atmospheric concentrations of greenhouse gases. Dozens of recent studies clearly indicate that the changes in the atmosphere are a result of human activities and that an immediate action is needed to reduce greenhouse gas emissions and avoid reaching more harmful levels. If nothing is happened, climate change would lead to a rise in global average temperature together with other associated impacts such as melting glaciers, rising sea-levels or more frequent appearence of extreme weather events. The climate change issue is being addressed both at international and national level. There is a need to take a coordinated action of all states worldwide with respect to their development capabilities and historic responsibilities. International negotiations in last couple of years have shown that it will be very difficult to achieve an agreement between countries with different intrests. The aim of this diploma thesis is to summarize a development of the...

氣候變遷已然成為國際間急需面對的課題。為了減輕溫室氣體排放量所採取之環境政策工具，不僅需要內國及國際環境法制加以處理，也需要輔以經濟誘因來推動溫室氣體減量工作。開發中國家因經濟成長使排放量急劇增加，包括亞洲主要國家的中國大陸、南韓、日本與台灣等，也開始積極推動碳交易機制。 碳交易機制連結是一種將各國的碳交易機制有組織性地連結而成全球碳交易市場的方式，在目前全球氣候變遷制度談判僵局之下，亞洲國家積極建立推動各國碳交易機制及其法規，亞洲碳交易市場連結發展之可能性成為氣候變遷焦點之一。本文採取文獻回顧法及歸納法，透過檢視分析學者文獻、歐盟、加州與魁北克碳交易機制的連結法規制度，探討連結碳交易機制所需要的法規要素，藉由分析成功的連結經驗，以探討亞洲國家複製歐盟、加州與魁北克碳交易機制連結模式之可行性。 以亞洲國家現今關於碳交易制度的立法規劃來看，目前只有韓國法規具有明確立法連結之相關規定，因此，進而比對韓國連結法規是否已具備足以對外連結之規範及要素，檢視韓國在運行了韓國碳交易機制之後，是否會有對外連結的可能性。台灣雖然已經於2015年通過溫室氣體減量及管理法，並於同年7月生效之，在該法規中有連結之基本概念，但是對於其他如減量階段時程、抵銷詳細規範等，在法規中或其他相關法規中未有具體擘劃。 在面臨亞洲地區一個大型的區域性碳交易市場即將崛起之際，亞洲地區的國家若要發展下一步的連結碳交易機制，在法規制度內須對於對外連結有明確的法律授權，其碳交易機制才有望可發展後續的對外連結。 / In order to reduce greenhouse gas emissions, every country should not only construct the international environmental law and country law, but also use economic strategies as assistant. The emission increases sharply because of rapid economic growth in developing countries in Asia. Therefore, major Asian countries including China, South Korea, Japan and Taiwan, promote the emission trading system. The emissions trading system is a key tool for reducing greenhouse gas emissions. Linking the emission trading systems is an organized way to create a global carbon market. When the global climate change negotiation is deadlocked, a growing number of countries in Asia are integrating cap-and-trade systems into their national climate policies, so that the probability of developing the carbon market in Asia becomes the main issue. This study summarizes and refers to the scholars’ reference materials, the law and regulation of the EU, California and Quebec emission trading systems. The aim of the study is to: (1) generalize the legal and institutional requirements for linking emissions trading systems by analyzing the experiences from the EU, California and Quebec; (2) discuss whether emission trading systems in Asia could be linked. The study concludes that only South Korea has the relevant legislation that authorizes linking with other emissions trading systems in Asia. It is more likely that South Korea emission trading system will establish link to other countries. By viewing and comparing the legal requirements for linking emissions trading system in this study, however, it seems like that there are still some legal challenges for South Korea to be fully prepared for linking with other emissions trading systems in the short term.

La nécessité d’une action mondiale pour limiter les émissions de gaz à effet de serre est reconnue par la majorité des pays, mais l’incapacité du régime climatique international à fournir une régulation globale des rejets de GES dans l’atmosphère a conduit à l’échec de l’approche top-down. Cet impossible consensus a conduit à un point de rupture dans la structure du régime climatique mondial dont témoignent notamment le développement, avant l’Accord de Paris d’une approche bottom-up, fondée sur une gouvernance climatique polycentrique et multiniveaux. C’est dans ce contexte qu’émergent et se développent, à différentes échelles administratives, les dix-neuf systèmes de permis d’émissions négociables aujourd’hui en fonctionnement dans le monde. De fait, aucune homogénéité n’est recherchée dans la conception de ces mécanismes de réglementation. Les choix structurels sont dépendants des caractéristiques et contraintes politiques et économiques de la zone géographique à laquelle ils appartiennent. Les configurations et les effets de l’élargissement des systèmes de permis négociables sont encore débattus et cette thèse apporte des recommandations sur la manière dont ces extensions et connexions pourraient avoir lieu.A partir d’analyses de la littérature empirique et de simulations à l’aide d’un modèle d’équilibre partiel pour le secteur énergétique (modèle POLES), nous préconisons la mise en place de mécanismes de cloisonnement sectoriel et de restrictions aux échanges de permis. En effet, dans un contexte caractérisé par des constructions hétérogènes de systèmes de permis d’émissions négociables, une diffusion non-universelle de ces marchés et une inclusion non-intégrale de tous les secteurs de l’économie, nous concluons que deux types d’ajustements sont essentiels. Premièrement, nous démontrons la nécessité d’une configuration et d’un cloisonnement sectoriel des marchés, cela afin d’impulser une dynamique d’innovations, de limiter les impacts sur la compétitivité internationale et de rendre conforme le système aux exigences des politiques connexes. Deuxièmement, nous justifions l’intérêt des mécanismes de restriction aux échanges internationaux de permis d’émissions négociables ; ils permettent en particulier une meilleure redistribution des gains liés à l’échange, tout en réduisant le coût total de la politique climatique et les quantités de GES émis par rapport à une pure segmentation des marchés.Finalement, l’existence de plusieurs prix du carbone apparaît incontournable dans le contexte actuel d’une gouvernance climatique mondiale hétérogène et d’une multiplicité d’objectifs politiques nationaux. Encourager le développement de prix différents par secteur et par pays permettrait, sous certaines conditions, de favoriser l’acceptabilité politique, de renforcer l’efficacité environnementale et d’améliorer l’efficience économique des systèmes de permis d’émission. / Most countries recognize that a coordinated worldwide action to limit greenhouse gas (GHG) emissions has to be implemented. However, the countries inability to coordinate their efforts led to the failure of the top-down climate architecture. Today, the international climate governance adopts a different direction, which based on bottom-up approach. This approach promotes polycentric and multi-level governances, that induce several independent policy-makers in different administrative scales (province, state and region). Therefore, the actual implemented Emission Trading Systems (ETS), as well as the emerging ones, grow in a domestic context. This context, in terms of economic development, political commitment and geographical coverage, determine the ETS design. Then, there is no harmonized design among ETS, no universal diffusion of these mechanisms in the world and a lack of integral inclusion of all sectors in these carbon markets. While researchers and policy-makers discuss the optimal features of such systems, this thesis examines different configuration options and coverage areas for the tradable permit schemes.Using a world energy-economy partial equilibrium simulation model (POLES) and drawing on experiences with real-world ETSs (based on empirical literature), we recommend two types of adjustments: the restrictions on trade permits between sectors, in one hand, and the control of international permit exchange between ETS, in the second hand. Indeed, we demonstrate firstly the necessity to separate ETS by sector and adapt them considering the specificities of each sector. This kind of policy will stimulate innovation in each sector. Also, it will limit the impacts on the international competitiveness and it will lead climate policy to other economic policies. Secondly, we develop a model to describe the effects of exchange permits emissions considering international linking among emissions trading systems. We prove that restriction exchange mechanisms are necessary to insure the redistribution of exchange gain compared to full linking. At the same time, these trade restriction mechanisms minimize the total cost and increase GHG emissions reductions compared to a segmented market.Considering the diversity of national political objectives and the bottom-up context of world climate framework, we concluded that the coexistence of several carbon prices is unavoidable and necessary. Encouraging the development of several carbon prices can promote political acceptability, strengthen environmental efficiency and improve economic efficiency.

Climate system protection from the legal point of view The global warming is one of the most serious and acute problem, that is touching all the global society. Growing of the greenhouse gasses is evoking the change of climate system, especially the warming of the Atmosphere and the Earth. In the last 100 years the temperature rises, what cause a lot of problems not just on the environment, but impacts on human health and society. Many of recent scientist studies clearly indicate, that climate changes are a result of human activities. Consequences of the global warming have been observed for several years, included rising global average temperature, rising of the sea level, melting glaciers and severity of extremes such as heat waves, cold waves, storms, floods and droughts. To preclude this consequences, there is necessary a global action with participation of every country. The aim of the diploma thesis is an introduction to the reader create a picture of the functioning of the climate system and its changes, causes and consequences of these changes and clarify the activities to protect, whether it is the activities of international, multinational or the Czech Republic. Finally, I will try to assess the individual activities and measures, including measures of adaptation, or to compare them and...

This dissertation is a collection of three economics essays on different aspects of carbon emission trading markets. The first essay analyzes the dynamic optimal emission control strategies of two nations. With a potential to become the largest buyer under the Kyoto Protocol, the US is assumed to be a monopsony, whereas with a large number of tradable permits on hand Russia is assumed to be a monopoly. Optimal costs of emission control programs are estimated for both the countries under four different market scenarios: non-cooperative no trade, US monopsony, Russia monopoly, and cooperative trading. The US monopsony scenario is found to be the most Pareto cost efficient. The Pareto efficient outcome, however, would require the US to make side payments to Russia, which will even out the differences in the cost savings from cooperative behavior. The second essay analyzes the price dynamics of the Chicago Climate Exchange (CCX), a voluntary emissions trading market. By examining the volatility in market returns using AR-GARCH and Markov switching models, the study associates the market price fluctuations with two different political regimes of the US government. Further, the study also identifies a high volatility in the returns few months before the market collapse. Three possible regulatory and market-based forces are identified as probable causes of market volatility and its ultimate collapse. Organizers of other voluntary markets in the US and worldwide may closely watch for these regime switching forces in order to overcome emission market crashes. The third essay compares excess skewness and kurtosis in carbon prices between CCX and EU ETS (European Union Emission Trading Scheme) Phase I and II markets, by examining the tail behavior when market expectations exceed the threshold level. Dynamic extreme value theory is used to find out the mean price exceedence of the threshold levels and estimate the risk loss. The calculated risk measures suggest that CCX and EU ETS Phase I are extremely immature markets for a risk investor, whereas EU ETS Phase II is a more stable market that could develop as a mature carbon market in future years.

This thesis focuses on the European Union Emission Trading System (EU ETS) and draws a comparison between the introduction of the aviation industry in 2012 and the maritime industry in 2024 into the EU ETS by analyzing industry resistance as portrayed in newspaper articles. In doing so, the thesis aims to identify whether there has been a shift in organizational resistance, and if so, what the change looks like. Using content analysis, we coded a time frame of three years surrounding each introduction event respectively, processing 134 articles for the aviation industry and 132 articles for the maritime industry. Building on the coding, a quantitative analysis was employed to identify shifts in portrayed patterns. The key result from our findings shows a notable shift in the portrayal of the EU ETS from resistance to compliance. Furthermore, we can see a change in focus on more environmental highlights as well as a relocated focus from critique aimed toward the entire system to a growing focus on its practical implementation. Drawing on institutional theory, we seek to explain the shift through growing legitimacy for climate policies resulting in an increase in the cost of resistance against said systems. Our data indicates that rising resistance costs not only diminish the occurrence of resistance but also significantly boost voiced compliance. From a practical standpoint, our findings suggest the need to include industries in the practical implementation processes to ease the shift towards a sustainable economy.

This thesis analysis the impact of private road transport under emission trading using two different Computable General Equilibrium models. A static multi-region model with special emphasis on the European Union, addresses the welfare impact of road transport under the European Emission Trading System. Including terms-of-trade effects, this model does not account for congestion which is the main externality of road transport. Furthermore, technological details of electricity generation which are an important factor in evaluating climate policies are not included. Therefore, the second model is a static Small Open Economy model of the German economy including congestion effects and detailed technological characteristics of electricity generation. The results of both models highlight the important role of already existing taxes on transport fuels for the evaluation of carbon mitigation measures in road transportation.

This thesis analysis the impact of private road transport under emission trading using two different Computable General Equilibrium models. A static multi-region model with special emphasis on the European Union, addresses the welfare impact of road transport under the European Emission Trading System. Including terms-of-trade effects, this model does not account for congestion which is the main externality of road transport. Furthermore, technological details of electricity generation which are an important factor in evaluating climate policies are not included. Therefore, the second model is a static Small Open Economy model of the German economy including congestion effects and detailed technological characteristics of electricity generation. The results of both models highlight the important role of already existing taxes on transport fuels for the evaluation of carbon mitigation measures in road transportation.

Policymakers' action of mitigating and slowing down the continued increase of carbon emission is a significant global priority. One way to internalise the negative externality of pollution is to put a price on greenhouse gases and use the market-based approach of emission trading systems. On the other hand, according to economic reasoning, pollution is an essential tool for economic development. This paper aims to investigate the economic effects of introducing the first international emission trading system of greenhouse gases, the EU emission trading system, by observing the economic growth and gross fixed capital formation. Mankiw, Romer, and Wiel's (1992) theory is utilised in this study and based on cross-country and cross-state panel data between 1999-2012, an empirical analysis using the fixed effects model was followed. The finding shows that the EU emission trading system has a negative effect on the growth of real gross domestic product per capita compared to states and countries not participating in an emission trading system. In addition, the first phase results having a positive effect and the second phase has a negative effect on the economic growth compared to states and countries not participating in an emission trading system. There is no statistical evidence of the effect on gross fixed capital formation as a percentage share of GDP. Organisations can use the findings to decide whether developing countries can afford the consequence of an implemented emission trading system since it tends to slow down growth. However, further research needs to consider the effect of the financial crisis of 2008 and the interpretation of the EU emission trading scheme.

This thesis deals with the EU energy policy and its impact on the energy sector of the Czech Republic. The main objective is to analyze the implemantation and impact of the EU climate-energy package on the czech energy sector. The first part is devoted to describing the current state of the energy sector in the country.The second part is the theory of externalities due to the fact that carbon dioxid emissions are externalities, which the EU is trying tu reduce through its climate-energy measures. The third part delas with EU energy policy and the fourth one with its applications and implications in the Czech Republic.