Emissions trading, energy efficiency, and the law of unintended consequences

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• Michael Grubb, Director of the Carbon Trust, and professor of economics in Cambridge and Imperial College
• Monday 08 May 2006, 17:00-18:00
• Lecture Room, Institute for Manufacturing IfM.

If you have a question about this talk, please contact Tom Counsell.

This talk explains the real consequences of the European emissions trading system, its relationship to low carbon technology, and the potential role of economic instruments in accelerating energy efficiency. It argues that we are witnessing a grand case of the law of unintended consequences. The EU ETS , promoted as a market mechanism to drive efficiency and fuel switching and feared for its impact on competitiveness, is actually making companies rich enough to consider investing in long term technology. At the same time, its impact on power prices may actually impede the introduction of some measures better targeted at improving energy efficiency in sectors outside the EU ETS .

This talk is part of the ELCF - Engineering for a Low Carbon Future (seminar series) series.

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