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IR15-020_Bel-Joseph.pdf (577.6 KB)

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Working paper

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2015

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cc-by-nc-nd, (c) Bel i Queralt et al., 2015
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/66931

Certificate Oversupply in the European Union Emission Trading System and its Impact on Technological Change

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Abstract

We examine the number of patent applications for climate change mitigation technologies (CCMT) filed at the European Patent Office and seek to relate it to the oversupply of emission allowances under the European Union Emission Trading System (EU ETS). We use a panel count data approach to show that firms covered by the policy take the oversupply into account when determining their level of innovative activity. We also indirectly demonstrate that the “weak” version of the Porter hypothesis holds for the EU ETS, given the sizable oversupply of allowances in the market. Our results suggest that in order to set the European economy firmly on the low-carbon technology pathway, and to ensure that the ambitious EU climate targets are met, serious policy changes must be undertaken.

Subject

Política ambiental, Economia ambiental, Dret de patents, Llicències d'emissió transferibles

Subject (English)

Environmental policy, Environmental economics, Patent laws and legislation, Emissions trading

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Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

Citation

BEL I QUERALT, Germà and JOSEPH, Stephan Emanuel. Certificate Oversupply in the European Union Emission Trading System and its Impact on Technological Change. IREA – Working Papers. 2015. Vol.  IR15/20. ISSN 2014-1254. [consulted: 14 of August of 2026]. Available at: https://hdl.handle.net/2445/66931

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