Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Emissions trading: the EU ETS Location: Auditorium D: Anna Mette Pagaard Fuglseth Session Chair: Bas Gorrens, KU Leuven | |
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When to go Green? Firm Dynamics during the Green Transition under the EU ETS KU Leuven, Belgium This project examines the effects of carbon taxation on firms’ decisions to adopt clean technology and its role in driving aggregate technological change. Leveraging data from the EU Emissions Trading System (ETS) spanning the period 2005 to 2018, I construct a novel indicator that reveals the importance of capital growth during structural reductions of emissions at the firm level. Notably, more productive, and polluting firms tend to reduce their emissions more in times of high carbon prices. To quantitatively examine the aggregate impact of this taxation and subsequent decarbonization decisions, I propose a model of heterogeneous firms that incorporates these discrete choices, and explore how governments can direct technical change unilaterally. The model is estimated using all firms in the EU ETS. It demonstrates that the policy is an effective tool for reducing climate emissions. However, while firms transition towards greener practices, the largest firms are better positioned to capitalize on this policy, leading to their further expansion and exacerbating inequalities across firms. Finally, the model stresses the importance of the trade channel in the clean technology adoption. | |