Carbon Dioxide Emissions vs. Allocation Rights: Spanish Case Analysis

The market for carbon dioxide rights emerged as one of the tools applicable to the implementation of the measures adopted by the Kyoto Protocol to combat climate change. In this paper we analyze the case of Spain, because their peculiar administrative division into seventeen Autonomous Communities, it is relevant to a detailed study of emissions and allowances of the industries that make up the different regions for the period between 2005 and 2009. Allowing us to test the efficiency and compliance with the requirements and conditions prescribed in the regulations for each one of those territorial units. Statistical analysis shows significant differences found between emissions and allocations for several regions.