Abstract
The aim of this paper is to study the effect that implementing the agreement signed by the European Union at the end of 2008 will have on reducing greenhouse gas emissions in Catalonia. Emission multipliers and the impact of reducing emissions by 10%, in sectors not covered by the EU ETS (EU Emissions Trading System) and reducing those that are covered by 21%, are analysed. More specifically, the effects on the endogenous income of the multiplier model (production, factorial and private income) is studied, while reducing and increasing endogenous income and the decomposition of emission multipliers into open, own and circular effects is analysed to include the different channels of the process of generating CO2 equivalent emissions. The empirical application is for the Catalan economy and uses economic and environmental data for the year 2001. The results show that increases in greenhouse gas emissions will essentially depend on the account that receives the exogenous inflow in demand. Greenhouse gas emissions in Catalonia are affected very differently at the sectoral level and the effects of production activities, factors of production and consumption on air pollution are very heterogeneous. The analytical approach used in this paper provides interesting results that can help to design and implement policies to reduce emissions.
Highlights
Modern societies have been characterised by the ever-increasing requirement that a high standard of welfare must be compatible with a high level of environmental protection and that it should be possible to sustain the demand for natural resources, while at the same time absorbing pollution and decreasing negative impacts on the planet
The aim of this paper is to study the effect that implementing the agreement signed by the European Union at the end of 2008 will have on reducing greenhouse gas emissions in Catalonia
Emission multipliers and the impact of reducing emissions by 10%, in sectors not covered by the European Union (EU) ETS (EU Emissions Trading System) and reducing those that are covered by 21%, are analysed
Summary
Modern societies have been characterised by the ever-increasing requirement that a high standard of welfare must be compatible with a high level of environmental protection and that it should be possible to sustain the demand for natural resources, while at the same time absorbing pollution and decreasing negative impacts on the planet. The intention is to take Europe towards a sustainable future, with an economy that is low in carbon and has more rational consumption levels; the aim is to reduce greenhouse gas emissions in the Union by 20% relative to 1990 levels by 2020 (30% of other developed countries have agreed to effect similar reductions and the more advanced developed countries have agreed to contribute based on their responsibilities and capabilities) This agreement stipulates that energy consumption must be reduced by 20% through improved energy performance and that 20% of our energy demands must be supplied by renewable energies (see the report “European council adopts climate-energy legislative package [4]).
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