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.

Made available in DSpace on 2016-04-26T20:19:32Z (GMT). No. of bitstreams: 1 Marcela Cristina Borella.pdf: 775257 bytes, checksum: b3a72db8721aee2ace4809afee7de922 (MD5) Previous issue date: 2010-11-05 / The development consists on an expansion of human capabilities with respect to increasing the security and life expectancy, education, a dignified life and free citizen. Currently, besides the assurance of economic, social and cultural development, we seek to further that it is environmentally sustainable. The provisions of the United Nations Framework Convention on Climate Change and the mechanisms under the Kyoto Protocol, in particular the Clean Development Mechanism, seeking to reduce emissions of greenhouse gases by industrialized countries and promote sustainable development of the developing countries. Measures under the Kyoto Protocol to mitigate the climatic effects caused by the emission of greenhouse gases, should not be considered an obstacle to development, instead, should be seen as a tool for sustainable development in developing countries / O desenvolvimento consiste em uma ampliação das capacidades humanas no que diz respeito ao aumento e à garantia de expectativa de vida, de educação, de uma vida digna, cidadã e livre. Atualmente, além da garantia do desenvolvimento econômico, social e cultural, buscase, ainda, que seja ambientalmente sustentável. As disposições previstas na Convenção- Quadro das Nações Unidas sobre Mudança do Clima e os respectivos mecanismos previstos no Protocolo de Quioto, em especial o Mecanismo de Desenvolvimento Limpo, buscam a redução das emissões de gases de efeito estufa pelos países industrializados e a promoção de um desenvolvimento sustentável dos países em desenvolvimento. As medidas previstas no Protocolo de Quioto para amenizar os efeitos no clima causados pela emissão de gases de efeito estufa, não devem ser consideradas um entrave ao desenvolvimento, ao contrário, devem ser vistas como uma ferramenta para o desenvolvimento sustentável dos países em desenvolvimento

Au cours de la période allant de la révolution industrielle aux années 60, le charbon a été massivement consommé en Europe et son utilisation s'est constamment accrue. Après la deuxième guerre mondiale, le charbon a joué également un rôle important dans la reconstruction de l'économie de l'Europe de l'ouest. Il faut noter cependant que la demande de charbon a commencé à décliner depuis le début des années 1960. Il en résulte de la part de certains décideurs une tendance à dire que l'extraction du charbon et son utilisation en Europe sont inutiles. Par conséquent, dans le livre vert de l'union européen 2000 (UE), le charbon est décrit comme un carburant «indésirable», et en se basant sur des critères économiques, sa production n'a aucune perspective. En outre, l'engagement du protocole de Kyoto dans la réduction de l'émission des gaz à effet de serre a aggravé cette perception. Face à cette situation, un nouveau débat sur l'avenir de l'industrie du charbon (extraction et utilisation) dans la perspective d'une politique énergétique communautaire est inévitable. La présente étude s'appuie sur une enquête approfondie en vue d'apporter des réponses à plusieurs questions. L'union européenne a-t-elle toujours besoin du charbon ? Si le charbon est appelé à jouer un rôle au sein de l'UE, d'où proviendrait-il? Que devrait-on faire pour diminuer les incidences négatives sur l'environnement consécutives à l'extraction du charbon et de son utilisation ? Finalement, au regard des soucis d'émission de CO2, quelle sera la situation de l'industrie du charbon dans l'avenir au sein de l'UE ? Pour approfondir l'analyse, un modèle dynamique de système appelé «The Dynamics Coal for Europe

<p>The European Union has initiated a scheme for trading with CO2 emission allowances as a measure to reduce greenhouse gas emission levels. Since January 2005 companies from certain energy demanding sectors, responsible for approximately 50 % of the total CO2 emissions in the EU, are participating in this scheme, the so called EU Emission Trading Scheme.</p><p>A trading scheme covering all sectors, i.e. all emissions in the EU would lead to the most cost efficient solution to reduce emissions by a certain amount. This means that the EU Emission Trading Scheme should be enlarged to cover also the transport sector, which is not participating today, but responsible for about 21 % of the total greenhouse gas emissions in the EU.</p><p>There are three ways to include the transport sector in the EU Emission Trading Scheme, i.e. to administrate the handling and trading of emission allowances in the transport sector. The first is a so called downstream approach, meaning that the actual emitter of the GHG, in this case a private person driving a car or a haulage contractor using trucks to transport goods, would be responsible for acquiring and trading emission allowances in accordance to the amount of greenhouse gases that he emits. The second way is a so called upstream approach, meaning that the owner of fuel depots would be responsible for acquiring and trading emission allowances corresponding to the amount of fossil fuel that he is selling, which is proportional to the amount of greenhouse gases that is emitted when using the fuel. The third solution is to lay the responsibility for acquiring and trading emission allowances on the companies that are ordering the transportation service, indirectly causing greenhouse gas emissions when their goods are being transported.</p><p>All three solutions have their advantages and disadvantages, but the benefits of using the upstream approach are the greatest. By allocating the responsibility for keeping and trading emission allowances at the fuel depots, an extensive part of greenhouse gas emissions from fossil fuel use, not only in the transport sector, could be covered by the EU Emission Trading Scheme to the lowest administrational cost possible.</p>

<p>The thesis primarily tracks the history of historical responsibility in negotiations to and under the UN Framework Convention on Climate Change (UNFCCC). The concept aims at attributing individual country burdens in mitigating climate change based on the relative levels of past emissions. A hermeneutic approach and discursive theory has been applied to the empirical material consisting of documents form UNFCCC’s main bodies. Even though the concept was part of the discursive struggle over the content of the UNFCCC, it has been more central in the struggle to operationalise the Convention’s principles on equity. Historical responsibility has been most elaborated in a proposal by Brazil to the 1997 pre-Kyoto negotiations. This proposal combined a biophysical approach (preferred by the North) with that of a political economic approach (preferred by the South). However, the proposal was soon pushed of the central agenda and discussions on the topic turned technical and centred on scientific uncertainties. The biophysical framing excluded equity. At the same time as the proposal was marginalised within UNFCCC as a whole, it was central in discussions on comprehensive approaches to historical responsibility. Any that wanted to discuss comprehensive approaches were referred to this forum wherein talks on equity were excluded from the rules of discussion. This echoes a world system of a periphery, the global South, dependent upon core countries, the global North. The last mentioned have the capacity to set the agenda. The argument for marginalising the Brazilian proposal has been compared to the accepted Kyoto protocol with the result that the official arguments for marginalisation do not hold. The thesis also investigates historical responsibility’s problem solving potential as a concept that could create much needed dialogue across the North/South divide.</p> / <p>Uppsatsen söker främst följa konceptet ”historisk skuld” i klimatförhandlingarna som ledde till, och som senare fördes under, FNs ramkonvention om klimatförändringar (FCCC). Historisk skuld tillskriver länder eller regioner ett ansvar för klimatförändringar som baseras på dess historiska utsläppsnivåer av växthusgaser. Ansvarsberäkningarna ligger sedan till grund för bördefördelning. Empirin, beståendes av dokument från FCCCs organ, har analyserats genom hermeneutik och diskursteori. Historisk skuld fanns med i den diskursiva kampen över FCCC men blev centralt först i kampen över hur FCCCs rättviseprinciper skulle operationaliseras. Som mest genomarbetat har konceptet varit i det så kallade brasilianska förslaget vilket lades fram inför Kyotoförhandlingarna. Förslaget kombinerade en naturvetenskaplig gestaltning, som föredras av länder i nord, med en politisk ekonomisk dito, vilken föredras av syd. Det exkluderades emellertid fort från den beslutsfattande agendan och hänvisades till rådgivande organ där frågan teknifierades med fokus på vetenskapliga osäkerheter. Den naturvetenskapliga gestaltningen exkluderade samtal om rättvisa. Samtidigt som förslaget marginaliserades inom FCCC som helhet så blev det centralt i detaljerade diskussioner om historisk skuld. Om någon ville diskutera operationaliserade varianter av historisk skuld inom FN så hänvisade de till detta forum, ett forum där samtal om rättvisa exkluderats genom de tysta regler som styr diskussionen. Detta speglar ett världssystem där en periferi, det global syd, är beroende av centrala länder, det globala nord. De sistnämnda har kapaciteten att styra dagordningen. Argumenten bakom marginaliseringen av det brasilianska förslaget har sedan jämförts med det accepterade Kyotoprotokollet. Det visar sig då att de officiella argumenten för marginalisering inte håller. Uppsatsen undersöker också konceptets potential till att initiera välbehövlig dialog mellan nord och syd.</p>

<p>Aviation industry has been developing throughout the last decades and is today an important part of the global economy. This constant growth makes it important to constrain the climate impacts derived from it. The IPCC report (1999), Aviation and the global atmosphere, lists four measures to reduce emissions and environmental impacts of aviation; Aircraft and engine technology options, fuel options, operational options and regulatory and economic options. The study aims to discuss the efficiency and implementation level of the measures. The theoretical frame for the research is based on literature studies whereas the empirical material is based on qualitative interviews of representatives of three key sectors; the authority, the service provider and the aircraft operator.</p><p>While analysing the theoretical and the empirical results, a certain emphasis on the regulatory and economical measures has been noticed. Moreover, following conclusions have been drawn;</p><p>(1) An emission trading with carbon dioxide would be an incentive to improve aircraft technology and flying procedures; (2) The best way of having international aviation included in the European emissions trading scheme (EU ETS) would be through an initial grandfathering distribution (costless distribution of permits according to historical emission and volume of fuel use) done according to a best-practise philosophy; (3) A robust instrument to measure emissions behaviour at different levels of the atmosphere is still missing. (4) The exclusion of the international aviation from the Kyoto Protocol negotiations makes it harder to include it in the existing EU ETS. Finally, all measures are needed and should be put into practise, but a trading with emissions would be the one to start the improving cycle leading to more sustainable results regarding time, environment and economy.</p>

<p>I snart ett år har nyhetssändningarna dominerats av finanskrisen. Nu jobbar miljöorganisationerna på högvarv för att få upp intresset för klimatet igen. I december kommer det nämligen vara dags att bestämma hur klimatpolitiken ska fortsätta efter Kyotoprotokollet. Sverige är då EU:s ordförandeland och kommer att spela en viktig roll för vad resultatet blir.</p> / C-projekt, artikelserie

I snart ett år har nyhetssändningarna dominerats av finanskrisen. Nu jobbar miljöorganisationerna på högvarv för att få upp intresset för klimatet igen. I december kommer det nämligen vara dags att bestämma hur klimatpolitiken ska fortsätta efter Kyotoprotokollet. Sverige är då EU:s ordförandeland och kommer att spela en viktig roll för vad resultatet blir. / C-projekt, artikelserie

The thesis primarily tracks the history of historical responsibility in negotiations to and under the UN Framework Convention on Climate Change (UNFCCC). The concept aims at attributing individual country burdens in mitigating climate change based on the relative levels of past emissions. A hermeneutic approach and discursive theory has been applied to the empirical material consisting of documents form UNFCCC’s main bodies. Even though the concept was part of the discursive struggle over the content of the UNFCCC, it has been more central in the struggle to operationalise the Convention’s principles on equity. Historical responsibility has been most elaborated in a proposal by Brazil to the 1997 pre-Kyoto negotiations. This proposal combined a biophysical approach (preferred by the North) with that of a political economic approach (preferred by the South). However, the proposal was soon pushed of the central agenda and discussions on the topic turned technical and centred on scientific uncertainties. The biophysical framing excluded equity. At the same time as the proposal was marginalised within UNFCCC as a whole, it was central in discussions on comprehensive approaches to historical responsibility. Any that wanted to discuss comprehensive approaches were referred to this forum wherein talks on equity were excluded from the rules of discussion. This echoes a world system of a periphery, the global South, dependent upon core countries, the global North. The last mentioned have the capacity to set the agenda. The argument for marginalising the Brazilian proposal has been compared to the accepted Kyoto protocol with the result that the official arguments for marginalisation do not hold. The thesis also investigates historical responsibility’s problem solving potential as a concept that could create much needed dialogue across the North/South divide. / Uppsatsen söker främst följa konceptet ”historisk skuld” i klimatförhandlingarna som ledde till, och som senare fördes under, FNs ramkonvention om klimatförändringar (FCCC). Historisk skuld tillskriver länder eller regioner ett ansvar för klimatförändringar som baseras på dess historiska utsläppsnivåer av växthusgaser. Ansvarsberäkningarna ligger sedan till grund för bördefördelning. Empirin, beståendes av dokument från FCCCs organ, har analyserats genom hermeneutik och diskursteori. Historisk skuld fanns med i den diskursiva kampen över FCCC men blev centralt först i kampen över hur FCCCs rättviseprinciper skulle operationaliseras. Som mest genomarbetat har konceptet varit i det så kallade brasilianska förslaget vilket lades fram inför Kyotoförhandlingarna. Förslaget kombinerade en naturvetenskaplig gestaltning, som föredras av länder i nord, med en politisk ekonomisk dito, vilken föredras av syd. Det exkluderades emellertid fort från den beslutsfattande agendan och hänvisades till rådgivande organ där frågan teknifierades med fokus på vetenskapliga osäkerheter. Den naturvetenskapliga gestaltningen exkluderade samtal om rättvisa. Samtidigt som förslaget marginaliserades inom FCCC som helhet så blev det centralt i detaljerade diskussioner om historisk skuld. Om någon ville diskutera operationaliserade varianter av historisk skuld inom FN så hänvisade de till detta forum, ett forum där samtal om rättvisa exkluderats genom de tysta regler som styr diskussionen. Detta speglar ett världssystem där en periferi, det global syd, är beroende av centrala länder, det globala nord. De sistnämnda har kapaciteten att styra dagordningen. Argumenten bakom marginaliseringen av det brasilianska förslaget har sedan jämförts med det accepterade Kyotoprotokollet. Det visar sig då att de officiella argumenten för marginalisering inte håller. Uppsatsen undersöker också konceptets potential till att initiera välbehövlig dialog mellan nord och syd.

The Precautionary Principle (PP) as formulated in the context of climate change requires countries to take measures to anticipate, prevent or minimize the causes of climate change and mitigate its adverse impacts despite a lack of full scientific certainty as to such causes. The Differentiated Responsibility Principle (the DR Principle) recognizes a common responsibility of all countries to prevent climate change and calls on developed states to assume a leadership role in the global effort to prevent climate change. The DR Principle requires some developed countries to place a restriction on their GHG emissions. Unfortunately this means that at least in the short term, developing countries are not subject to greenhouse gas (GHG) emission targets, thereby exacerbating the climate change problem. <p>Implementing the DR Principle in this manner conflicts with the PP. To avoid this conflict, the DR Principle should be formulated in a manner which demands some restriction on GHG emission, by developing countries. Efforts to prevent human induced climate change should be made by all countries regardless of their individual culpability for climate change if the PP is to have effect.