• Environmental and Resource Economics Review
• /
• v.14 no.3
• /
• pp.569-593
• /
• 2005

This study tests for the law of one price and Grander Causality between the EU ETS and Nord Pool $CO_2$ allowance prices. The Johansen cointegration test shows that there exists a long run equilibrium between EU ETS and Nord Pool prices and support the law of one price. The Granger casuality test suggests that the EU ETS leads Nord Pool for all vintages traded. The test results imply that the EU ETS can be regarded as the representative carbon market in the EU where many exchanges just started competing for the newly rising market for carbon.

• Proceedings of the KIEE Conference
• /
• 2009.07a
• /
• pp.563_564
• /
• 2009

현재 정부에서는 녹색성장기본법(안)의 제정을 준비 중이고 그 핵심적인 내용으로 총량제한 탄소배출권 거래제의 도입이 포함되어 있다. 본 논문은 배출권거래제 도입과 전력산업의 관계에 있어서의 법률적 쟁점들에 대한 제기와 대안을 제시해 보고자 한다. 배출권의 법적 성격과 외국의 배출권 관련 법률 입법 사례, 국내 배출권거래에 관련될 수 있는 자통법의 적용 등에 대한 검토를 바탕으로 몇 가지 시사점을 보여주고자 한다. 기존의 금융시장을 규율하는 법규가 아닌 배출권 거래에 대한 별도의 입법이 필요한 점과 함께 배출권 거래관련 입법 시에 현재의 규제적 전력시장을 감안한 법률 내용이 포함되어야 한다는 것이다.

• Journal of Korean Society of Forest Science
• /
• v.98 no.3
• /
• pp.263-271
• /
• 2009

This study aims to identify negotiation alternatives related to Post-2012 reducing emissions from deforestation (RED) and enhancement of forest carbon stock (EFCS) activities. It also aims to recommend a negotiation strategy considering environmental integrity and national interest on the basis of estimating reduction potentials of each alternative on the assumption that tradable carbon credits play an important role as positive incentives. In order to estimate greenhouse gas (GHG) reduction potentials and income potential from RED and EFCS activities, 99 countries were selected by the Global Forest Resources Assessment of the Food and Agriculture Organization of the United Nations. A 'baseline and credit' method was applied to estimate RED activities. Gross-net and net-net methods were applied for EFCS activities. According to the results, Brazil, Indonesia, and the Democratic Republic of Congo have more potential to get positive incentives through RED, while China, Chile, and the Republic of Korea have more potential to get positive incentives through EFCS. This study suggests including both RED and EFCS activities in the boundary of policy approaches and endowment of positive incentives to consider GHG reduction potentials in the global scale and equity among developing countries. Making a discount rate application of forest management activities can be also recommended to factor out the effects of human-induced activities by EFCS activities.

• International Area Studies Review
• /
• v.21 no.4
• /
• pp.223-245
• /
• 2017

This study is examined interaction between carbon market with stock market using a multivariate GARCH(DCC) model. Carbon market is EU ETS EUA price, stock market is the iron and cement stock price which has relatively energy intensive and massive carbon emissions sector in the industrial sector. It also analyzed changes in the correlation between the markets through an analysis of correlation coefficients. Moreover, it checked whether there was marketability expansion(or expansion of carbon emissions reduction) through the analysis above. As a result of empirical tests, it showed that the price spillover effect was insignificant. In addition, it represented that there was a weak correlation between the two markets since the volatility spillover effect disappeared in the second phase by an external shock(a financial crisis). Moreover, it was revealed that there were no significant changes although there was a weak upward trend in terms of the correlation between the carbon market and the stock market. This implies that emission rights could not expand marketability to financial market as a commodity(or did not play its natural role of the reduction of carbon emission).

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.43 no.1
• /
• pp.63-69
• /
• 2023

'Carbon-neutrality Assessment based on Technology Application Scenario (CATAS)' provides an analysis of greenhouse gas (GHG) reduction effectiveness when applying carbon-neutrality technology to areas such as energy conversion, transportation, and buildings at certain spatial levels. As for the development scope of the model, GHG emission sources were analyzed for direct GHG emissions, and the boundary between direct and indirect emissions are set according to the spatial scope. The technical scope included nine technologies and forest sinks in the transition sector that occupies the largest portion of GHG emissions in the 2050 carbon neutral scenario. The carbon neutrality rate evaluation methodology consists of four steps: ① analysis of GHG emissions, ② prediction of energy production according to technology introduction, ③ calculation of GHG reduction, and ④ calculation of carbon neutrality rate. After the web-based CATAS-BASIC was developed, an analysis was conducted by applying the new and renewable energy distribution goals presented in the ｢2050 Greenhouse Gas Reduction Promotion Plan｣ of the Seoul Metropolitan Government. As a result of applying solar power, hydrogen fuel cell, and hydrothermal, the introduction of technology reduced 0.43 million tCO₂eq of 1.49 million tCO₂eq, which is the amount of emissions from the conversion sector in Seoul, and the carbon neutrality rate in the conversion sector was analyzed to be 28.94 %.

• Spatial Information Research
• /
• v.20 no.1
• /
• pp.71-80
• /
• 2012

Carbon Point system is Climate Change Action Program by providing incentives in proportion to voluntary reduction of energy consumption such as electricity, gas and water for houses, commercial facilities. So far, existing researches have been limited to construction of GHG(Green House Gas) Inventory and have little attention to empirical impact analysis on carbon reduction policy regarding the residential section. Therefore, this paper is intended to provide convincing findings of impact analysis on carbon reduction, revolving around the carbon point system. For this, we firstly calculated the carbon emission by using electricity and gas usage data in household targeting to Seongbuk-Gu. Carrying out IPA and spatio-temporal analysis. Then, we are capable of visualizing spatial patterns from 2007 to 2009 as a macro analysis. Following that, we explored the effect on carbon point system through Ex ante-Ex post Analysis by paired t-test. To conclude, we can spatially identify the distribution with a significant difference between carbon emissions according to energy use as a micro analysis by Hot Spot to Analysis on point entities. It is to be hoped that this method will be utilized to establish various policies and to evaluate the effect of reduction of GHG.

• Environmental and Resource Economics Review
• /
• v.16 no.1
• /
• pp.129-169
• /
• 2007

The purpose of this study is to experiment and simulate the newly-updated Second Generation Model for Korea (SGM-Korea). With the updated model, we tried to simulate effect of carbon tax on $CO_2$ emissions and other macroeconomic variables for Korea. The baseline data are compared with projected profiles by various scenarios to evaluate its performance. Our contribution in this study is to having up-graded the model from its earlier version by building new hybrid input-output table based on 2000 input-output and energy balanced tables. According to our estimation, total $CO_2$ emission in Korea has already increased in 2000 to about 1.86 times the 1990 figure. The level of carbon tax required for the current level of $CO_2$ emission to be reduced to the 1995 or 2000 level seems to be too high for Korean economy to bear. It is possible to find a reasonable level of carbon tax, however, if it can combine it with improvement of energy efficiency at the rate of 0.5% to 1% per year. For Korea to meet its obligation to reduce $CO_2$ emissions, therefore, it is imperative for her to improve energy efficiency as well as to develop alternative energy source reducing its dependence on fossil fuel.

• JOURNAL OF ELECTRICAL WORLD
• /
• s.375
• /
• pp.41-43
• /
• 2008

• Information Display
• /
• v.23 no.2
• /
• pp.36-41
• /
• 2022

• Journal of Environmental Impact Assessment
• /
• v.25 no.5
• /
• pp.307-318
• /
• 2016

This research examines the impacts of urban population growth on per capita $CO_2$ emissions with particular focus on the interaction effect between urbanization and income levels. Employing the Panel Fixed Effects model together with the Pooled LS and Panel GLS models, the research reported here analyzes the relevant data on 84 countries. The statistical results show a nonlinear(an inverted-U) relationship between urbanization and per capita $CO_2$ emissions; that is, while the urban agglomeration leads to increases in per capita $CO_2$ emissions for low income countries, this adverse impact does not hold true for high income countries. The research findings can contribute to addressing broad issues of urban compactness and patterns of energy consumption that should be considered by those concerned about the sustainable urban development.