Carmen Bunzl - Universidad Pontificia Comillas

Index xii
2.3.9 Overview of sectoral indicators 180
2.4 Energy investment ......................................................................................... 183
2.5 Policies and measures.................................................................................... 183
2.6 Summary.......................................................................................................... 185
3 OPTIONS FOR POST-2012 EU BURDEN-SHARING. IMPLICATIONS ON SPAIN...... 186
3.1 Introduction..................................................................................................... 186
3.2 Options for post-2012 EU burden-sharing and ETS allocation................ 188
3.2.1 European Commission’s proposal for EU effort sharing (January 2008) 191
3.3 Model analysis (FAIR 2.1) ............................................................................. 197
3.3.1 Option 1. Present system 198
3.3.1.1 Emission allowances.................................................................................................198
3.3.1.2 Emissions trading......................................................................................................201
3.3.1.3 Abatement costs ........................................................................................................202
3.3.1.4 Abatement measures ................................................................................................203
3.3.2 Option 2. EU burden-sharing with ETS allocation at EU level 206
3.3.2.1 Step 1: EU-wide cap for ETS and non-ETS ............................................................207
3.3.2.2 Step 2: Sectoral ETS Caps.........................................................................................208
3.3.2.3 Step 3: Member State non-ETS caps........................................................................210
3.3.2.4 Emission allowances.................................................................................................212
3.3.2.5 Emissions trading......................................................................................................215
3.3.2.6 Abatement costs ........................................................................................................216
3.3.3 Discussions 217
3.3.3.1 Quantitative assessment...........................................................................................217
3.3.3.2 Implications on Spain of EC’s effort sharing proposal (January 2008) ..............219
CHAPTER 5. CONCLUSIONS .......................................................................................................... 224
1 INTRODUCTION .......................................................................................................................... 225
2 BALI: CONCLUSIONS AND THE WAY FORWARD ............................................................ 226
3 KEY ELEMENTS OF THE FUTURE CLIMATE CHANGE REGIME................................... 228
3.1 Emissions targets............................................................................................ 229
3.2 The role of developing countries ................................................................. 234
3.3 International emissions trading.................................................................... 239
3.4 Sectoral agreements ....................................................................................... 243
3.5 Technology ...................................................................................................... 246
3.6 Adaptation....................................................................................................... 250