Abstract
This chapter studies the energy policy of the European Union with a focus on regional cooperation in energy policy. Energy policy has been one of the center pieces of the foundation of the European Communities, which later became the European Union. The chapter first describes how the European countries started their regional energy cooperation in the areas of coal, steel and nuclear energy. We then analyze in detail the current “European Strategy for Energy and Climate Change”. The last part of the chapter is dedicated to possible lessons for Asia’s regional energy policies, in particular in the area of regional cooperation. We show that market-based instruments of regional cooperation, such as regional emission trading schemes, require an institutional setting that might not be yet present in Asia. In contrast, non-market based instruments, such as information exchange or regional energy efficiency labels, might provide a more promising way of regional energy cooperation at the current level of economic integration.
Research Economist (ADBI). Special thanks go to Khan Kikkawa (Research Associate at ADB) who provided very valuable research assistance.
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Notes
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Another motivation was the Suez crisis in 1956 which sparked fears that Europe’s access to the rich oil fields of the Middle East might become blocked and alternative energy sources needed.
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The EU also included the offer to move toward a reduction of 30 % in case other developed countries also committed themselves to comparable emission reductions and developing countries contribute according to their responsibilities and respective capabilities.
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Exceptions are the GHG emission by international maritime and emissions and removals from land use, land-use change and forestry.
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The COP 21, which will take place in Paris in December 2015, aims to achieve a legally binding and universal agreement on climate, with the objective to keep global warming below 2 °C.
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Helble, M. (2016). Low Carbon Energy Transition in EU: Lessons from Economic, Institutional and Management Approaches. In: Anbumozhi, V., Kalirajan, K., Kimura, F., Yao, X. (eds) Investing on Low-Carbon Energy Systems. Springer, Singapore. https://doi.org/10.1007/978-981-10-0761-3_12
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