Participation in NSW’s Greenhouse Gas Abatement Scheme “marginal”, global emissions trading study says
Posted by gmarkets on 27 September, 2007
While the EU-ETS makes up most of the currently existing emission market, there are some alternatives, according to Pinkse, J. and Kolk, A. in ‘Multinational Corporations and Emissions Trading’ in European Management Journal (2007). Early action route: Firstly, some companies have taken early action by participating in the UK-ETS; the main precursor of the EU-ETS. Yet, only eight firms raise their participation in the UK-ETS and it is remarkable that this merely includes four UK firms, while the remainder consists of subsidiaries from US and Japanese large corporationss. Most of these firms are compliance-oriented, have exceeded their target, and have been able to sell excess emissions. What explains low participation in the UK-ETS is the fact that it ended at the end of 2006, as it was superseded by the EU-ETS.
Only minor participation in NSW scheme: Participation in Australia’s New South Wales Greenhouse Gas Abatement Scheme is even more marginal as only one firm mentions to have explored the possibilities of this scheme and one bank has facilitated transactions.
Reference: Pinkse, J. and Kolk, A., Multinational Corporations and Emissions Trading; European Management Journal (2007) doi:10.1016/j.emj.2007.07.03