Abstract
In this chapter, an analysis will be made of Dutch energy efficiency covenant policies and the conversion of these policies into the EU emissions trading scheme. A simple model is used to assess the effectiveness of these policies. The regulation of the eighties and voluntary agreements of the nineties concerning energy efficiency meet most of the conditions regarding policy effectiveness. The current Benchmarking Covenant suffers from lack of transparency and the absence of an emission reduction target. The EU emissions trading scheme that is currently developed, at least has a well defined cap, but whether it will enforce real emission reduction in the future remains to be seen. The conversion of the Benchmarking Covenant into a cap for emissions trading currently does not reduce CO2 emissions but increases emissions of the participants involved. The cap that is derived exposes the lack of stringency of this policy.
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Van Dril, A. (2005). Using the Benchmarking Covenant for Allocating Emission Allowances: Are We Still Moving Ahead?. In: Croci, E. (eds) The Handbook of Environmental Voluntary Agreements. Environment & Policy, vol 43. Springer, Dordrecht. https://doi.org/10.1007/1-4020-3356-7_17
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