Assessing the Global Impact of EU Carbon Pricing: Economic and Climate Spillovers1
EU炭素価格の世界的影響の評価：経済的・気候的波及効果 (AI 翻訳)
Elias Hasler
🤖 gxceed AI 要約
日本語
本論文は、EU排出量取引制度（EU ETS）の全球的な経済・気候波及効果を分析。高頻度データを用いた炭素政策サプライズにより、EU炭素価格の上昇がユーロ圏内外で温室効果ガス排出削減に寄与し、全体としてカーボンリーケージが生じていないことを示す。また、ブリュッセル効果を通じた国際標準への影響も確認された。
English
This paper examines the global economic and climate spillovers from the EU ETS using high-frequency carbon policy surprises. Higher EU carbon prices reduce emissions both within and outside the Euro Area, with no aggregate carbon leakage. The 'Brussels Effect' transmits EU carbon policies globally, and no region gains economically from EU carbon pricing.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
EU ETSは日本のカーボンプライシング議論（例えば2026年度からのGXリーダー制度や排出量取引市場）に重要な示唆を与える。本論文の実証結果は、炭素価格が国内生産を犠牲にせず排出削減できる可能性を示唆し、日本の政策設計に参考となる。
In the global GX context
This paper provides robust evidence that the EU ETS reduces global emissions without carbon leakage, reinforcing the case for ambitious carbon pricing globally. It supports the ISSB and TCFD frameworks that demand disclosure of carbon pricing risks, and informs transition finance by validating the effectiveness of carbon pricing mechanisms.
👥 読者別の含意
🔬研究者:Methodologically, the causal identification using high-frequency surprises offers a replicable approach for assessing carbon pricing impacts.
🏢実務担当者:Firms with EU exposure should assess carbon price risk in their supply chains, as the study shows no net carbon leakage but significant emission reductions.
🏛政策担当者:The findings on the Brussels Effect and absence of leakage justify stronger EU carbon policies and can inform other jurisdictions like Japan in designing their carbon pricing systems.
📄 Abstract（原文）
This paper explores the global economic and climate spillovers arising from the European Union Emissions Trading System (EU ETS), leveraging exogenous variations in carbon prices identified through high-frequency carbon policy surprises. The findings reveal that higher EU carbon prices lead to significant reductions in greenhouse gas emissions, both within the Euro Area and globally, with no evidence of carbon leakage at the aggregate level. Structural Scenario Analysis confirms that these reductions are driven by factors beyond declines in industrial production. The results highlight the transmission of the shock through the Brussels Effect, whereby EU carbon policies influence global standards. Furthermore, no region benefits economically from EU carbon pricing. Overall, the EU ETS proves effective in reducing global emissions without being undermined by carbon leakage.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.2139/ssrn.6711113first seen 2026-07-09 04:31:18
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