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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).

Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:53:11am WEST

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Daily Overview

Session

Emissions Trading 3
Location: B136
Session Chair: Coline Metta-Versmessen, LEDa, Paris-Dauphine University, PSL University ,Paris

Presentation 3

Energy Efficiency Investments under Emissions Regulation: Selection or Incentive?

Eva Franzmeyer

European University Institute, Italy

Discussant: Coline Metta-Versmessen (LEDa, Paris-Dauphine University, PSL University ,Paris)

This paper studies how firms adapt to climate policy. It quantifies the extent to which observed energy-efficiency investment can be attributed to regulation under the EU Emissions Trading Scheme (ETS). I develop a dynamic optimisation model in which firms choose energy-efficiency investment alongside production inputs. The model captures key features of an ETS, including the endogenous determination of firms’ regulatory status. I estimate the model using German firm-level data with detailed measures of energy consumption and energy-efficiency investment. I then conduct a counterfactual analysis by simulating an economy without the ETS. The results show that approximately 9 % of observed energy-efficiency investment during 2011–2018 is attributable to the EU ETS.