Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171115
Authors: 
Montoya Gómez, Ana Maria
Zimmer, Markus
Year of Publication: 
2017
Series/Report no.: 
CESifo Working Paper 6651
Abstract: 
We study the effect of climate policy on companies’ greenhouse gas emissions using emissions data for the headquarters and subsidiaries of the world’s biggest manufacturing, energy, and utility companies. Our results suggest that financial incentives and legal requirements to audit energy use reduce companies’ emissions, whereas support schemes aimed at promoting the combined generation of heat and power increased emissions of non-utility companies and feed-in tariffs aimed at increasing the use of renewable energy sources for electricity generation increase emissions of utility companies. We also find loans and subsidies for energy efficiency improvements to increase emissions in the short term. In addition, our results provide a solid foundation for researchers seeking consistent and comparable estimates on the mitigation effects of typical climate policy instruments in a cross-country setting.
Subjects: 
climate policy evaluation
greenhouse gas emissions
cross-country micro panel data
companies
firms
JEL: 
H23
H32
Q42
Q48
Q54
Q58
Document Type: 
Working Paper

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