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Economic iNsTRuments to Achieve Climate Targets in Europe

Economic iNsTRuments to Achieve Climate Targets in Europe

Objective

The ENTRACTE research project assesses the EU’s climate policy portfolio. While the EU ETS is key to promote the transition towards a low-carbon economy, ambitious GHG emissions reductions will be reached only if this scheme is improved and supported by complementary policies. A carefully considered policy design has to take into account existing market failures other than the climate externality, suboptimal outcomes of international agreements, the necessity to secure competitiveness and reduce carbon leakage and the co-existence and interaction with several other political goals. ENTRACTE looks at the EU ETS and additional policy instruments like energy efficiency standards, renewable policies, carbon taxes, innovation policies, and trade measures. ENTRACTE provides a deep understanding of how climate policy instruments interact with each other and with related policy instruments. It takes the “real-world” and its imperfections comprehensively into account and considers practical barriers in the implementation (like information asymmetry, uncertainty, political and legal constraints, behavioural aspects). ENTRACTE integrates empirical findings from ex-post assessments using broad sets of empirical data as well as ex-ante analyses with simulation models and experimental approaches with theoretical findings in order to optimize the policy mix. By adopting a project-wide harmonization of assumptions and scenarios about the current and future policy environment, ENTRACTE allows to pursue an integrated approach and and to arrive at a synthesis of research results which identifies strengths and weaknesses of different instrument mixes. Based on these findings, ENTRACTE makes a major step in providing practically applicable recommendations for policy makers on how to design the environmentally effective, economically efficient and politically and legally feasible climate policy mix needed to achieve medium-term and long-term GHG reduction targets in Europe.

Coordinator

ZEW - LEIBNIZ-ZENTRUM FUR EUROPAISCHE WIRTSCHAFTSFORSCHUNG GMBH MANNHEIM

Address

L 7 1
68161 Mannheim

Germany

Activity type

Higher or Secondary Education Establishments

EU Contribution

€ 587 609,98

Administrative Contact

Oliver Schenker (Dr.)

Participants (8)

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POTSDAM INSTITUT FUER KLIMAFOLGENFORSCHUNG

Germany

EU Contribution

€ 344 661,61

FONDAZIONE ENI ENRICO MATTEI

Italy

EU Contribution

€ 360 000

LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE

United Kingdom

EU Contribution

€ 312 913,60

IMPERIAL COLLEGE OF SCIENCE TECHNOLOGY AND MEDICINE

United Kingdom

EU Contribution

€ 82 280,22

STICHTING KATHOLIEKE UNIVERSITEIT BRABANT

Netherlands

EU Contribution

€ 388 800

Stiftelsen Frischsenteret for samfunnsøkonomisk forskning

Norway

EU Contribution

€ 390 625,59

AP ENVECON LIMITED

Ireland

EU Contribution

€ 244 960

EURICE EUROPEAN RESEARCH AND PROJECT OFFICE GMBH

Germany

EU Contribution

€ 223 425

Project information

Grant agreement ID: 308481

Status

Closed project

  • Start date

    1 September 2012

  • End date

    30 September 2015

Funded under:

FP7-ENVIRONMENT

  • Overall budget:

    € 3 742 705,59

  • EU contribution

    € 2 935 276

Coordinated by:

ZEW - LEIBNIZ-ZENTRUM FUR EUROPAISCHE WIRTSCHAFTSFORSCHUNG GMBH MANNHEIM

Germany

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