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Are emissions trading policies sustainable? : A study of the petrochemical industry in Korea

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  • Are emissions trading policies sustainable?
  • Choi, Yongrok; Lee, Hyoung Seok
  • Multidisciplinary Digital Publishing Institute


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Title Are emissions trading policies sustainable?
Similar Titles
Sub Title

A study of the petrochemical industry in Korea

Material Type Articles
Author(English)

Choi, Yongrok; Lee, Hyoung Seok

Publisher

Basel, Switzerland:Multidisciplinary Digital Publishing Institute

Date 2016-10
Journal Title; Vol./Issue Sustainability:vol. 8(no. 11)
Pages 13
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Others
Territorial Development < Environment
Holding MDPI

Abstract

In 2015, Korea inaugurated an emissions trading scheme (ETS). In this regard, many studies have considered the sustainable performance and efficiency of industries that emit carbon; however, few have examined ETS at company level. This paper focuses on companies’ data related to Korean ETS in the petrochemical industry. Based on the non-radial, nonparametric directional distance function (DDF), the paper evaluates the governance factors related to ETS policies and sustainable performance in terms of carbon technical efficiency (CTE), the shadow price of carbon emissions, and Morishima elasticity between the input and undesirable output of carbon emissions. Using a dual model, the paper shows that Korean ETS has huge potential for participating companies to improve CTE. If all companies consider the production possibility frontier, they could potentially improve efficiency by 52.8%. (The rest omitted)