Resumen de Mercados de emisiones y comercio internacional (reedición)
- español
Este capítulo analiza la evolución de los mercados de emisiones y el impacto del comercio internacional en las políticas climáticas internas. Las emisiones implícitas en el comercio crean un riesgo de fuga de emisiones, por el cual una actividad económica abandona una jurisdicción para dirigirse a otras con una política menos estricta, como resultado de una política climática nacional unilateral. A pesar del importante avance en el número de jurisdicciones con sistemas de fijación del precio de las emisiones, sigue existiendo una gran variedad en los niveles de precio y el porcentaje de emisiones total que se abarcan con dichos precios en las distintas jurisdicciones. Esto conlleva un riesgo de fuga de carbono que hasta la fecha se ha mitigado mediante unos precios generalmente bajos. De cara al futuro, con un aumento previsto en los precios de las emisiones, el riesgo de fuga adquiere importancia, ya que se comercializan el 22% de las emisiones, pero solo el 12% de la producción bruta mundial.
- English
This chapter explores the evolution of emissions markets and the role of international trade in affecting domestic climate policy. Emissions embodied in trade creates risk of emissions leakage, whereby economic activity leaves a jurisdiction for others with less stringent policy, as a result of unilateral domestic climate policy. Despite significant progress in the number of jurisdictions with emissions pricing, there remains substantial variation in the price levels and share of priced emissions across jurisdictions, creating scope for leakage that is to date mitigated by generally low prices. Moving forward, with expected increases in emissions prices, leakage risk becomes more important, as 22% of emissions are traded but only 12% of world gross production. The countries with the most exposure to leakage are developed and have emissions pricing in place already, in addition to lower emissions-intensity of production. These three facts mean that policies to prevent leakage will become increasingly important in the absence of concerted global action and continued differences in price levels. The European Union’s proposed carbon border adjustment mechanism is a new option to mitigate leakage. However, there are numerous elements of its design that are uncertain and are unlikely to be easily resolved, such as treatment of third countries that may undermine its effectiveness.
