Browsing by Author "Klinton, Andreas"

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    Carbon emission costs in capital budgeting - The effect of the EU ETS on Swedish companies -
    (2009-06-23T12:03:14Z) Kierkegaard, Daniel; Klinton, Andreas; Moberg, Jesper; Göteborg University/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
    In this essay we studied how Swedish companies that are included in the European Union Trading Scheme (EU ETS) handle the cost of carbon emissions in their capital budgeting processes. We especially investigated whether there were any di®erences between the di®erent sectors included. The results also made it possible to give an indication on the e±ciency of the EU ETS. After characterising the EU ETS in Sweden with respect to its relevance for investment decisions, an analysis model was developed. By applying the model to the results from inter- views with actors from all sectors, it was concluded that the ¯rms do treat the cost of carbon emissions in their capital budgeting. The level of sophistication di®ers between ¯rms, but is generally low. The companies chosen had all among the highest emissions and the general practice in Sweden could therefore be assumed to be even lower. Among the actors, the Mineral sector and the Energy sector were found to have the most sophisticated processes. The former most likely due to the nature of the production processes and the latter due to previous experience with similar types of derivatives. In the evaluation of the EU ETS, indicators were found that the allocative e±ciency of the system can be questioned. On the other hand, the only noticeable negative e®ect was a price related risk connected to the emission allowances.
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    Hydrogen technology in the Swedish automobile sector - a Multi-Level Perspective approach
    (2009-03-06T09:52:11Z) Klinton, Andreas; Rudback, Anders; Åhlén, Anders; Göteborg University/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
    In this essay, we study possible pathways for the introduction of hydrogen technology in the Swedish automobile sector. It is an environmentally much preferable alternative to the current, fossil-fuel based, system which emits large amounts of greenhouse gases. However, the transport sector is hard to affect since the current technologies enjoy benefits from several different positive feedback loops. A vicious circle is created since new technologies, like our, must benefit from the feedback loops to reach competitiveness but they will not start gaining from them as they are not competitive yet. By applying the multi-level perspective introduced by Rip and Kemp (1998), we identified important steps in trying to realise a transition away from the fossil fuel-based transport system. The framework was applied on hydrogen technology for the automobile sector and as further input a number of interviews were conducted. Our studies helped us identify a number of results such as the need for technology specific policies and long-sightedness in Swedish energy politics. These actions are needed since hy- drogen technology is today too far from competitiveness to be seriously helped by economy wide policies. Furthermore, to gain new business in this area the companies should cooperate with each other to a larger extent than in their normal business, something called "running in packs". The rationale for the companies to cooperate is that it is better to have a limited share in a large successful market than being monopolist on one that never takes off.