Photo Alienor Cameron

ALIENOR CAMERON

DOCTORANT(E)

Thesis title

  • Compétitivité industrielle et décarbonation peuvent-elles aller de pair ?

Under the direction of

  • arrow_right Thesis supervisor: Marc Baudry

Research group

    Transitions, Environnement, Énergie, Institutions, Territoires

HAL open science

Contact

2025-17

Mind the Market: A Novel Measure of Carbon Leakage Risk

Alienor Cameron

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Abstract
Defining a fair and transparent measure of carbon leakage risk is essential to ensure the effectiveness of the EU's climate policies. This paper proposes a novel methodology to assess this risk, which takes market structure into account -- a key factor often overlooked in both academic research and policymaking. The methodology involves applying the micro-founded hypothetical monopolist test (or SSNIP test) at the country-product level. It allows for the definition of the relevant market for four products in the steel and cement industries. The inputs required for the hypothetical monopolist test are derived by estimating a product-level gravity equation. The findings from this study illustrate that market structure differs substantially at the product level, even within a single industry. Clinker appears as the product most at risk of carbon leakage. This suggests that carbon leakage risks should be computed by policymakers at a highly granular level and taking market structure into account.
Mot(s) clé(s)
climate policies, hypothetical monopolist, gravity model, carbon leakage, EU ETS
2024-26

Carbon intensity and corporate performance: A micro-level study of EU ETS industrial firms

Alienor Cameron, Maria Garrone

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Abstract
To reach its 2050 objective of carbon neutrality, the European Union (EU) must continue to step up its climate efforts, while ensuring the competitiveness of its industries is not harmed. The EU Emission Trading Scheme (ETS) is at the core of the bloc's industrial decarbonization efforts. This paper explores this topic by digging into whether there is a causal relationship between industrial firms' emission intensity and their economic and financial performance. We construct a dataset covering around 1,200 industrial firms covered by the EU ETS' third phase and estimate a novel indicator of volume-based emission intensities for these firms. Applying an IV approach to a within-firm panel model, we find that firms' emission intensity is negatively related to their corporate performance, and that this does not depend on the competitive environment they operate in.
Mot(s) clé(s)
EU ETS, heavy industry, emission intensity, corporate performance.
2022-1

The case for a Carbon Border Adjustment: Where do economists stand?

Marc Baudry, Alienor Cameron

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Abstract
On 14 July 2021, the European Commission formally adopted a proposal for a Carbon Border Adjustment Mechanism to mitigate the risk of carbon leakage caused by its increasingly ambitious environmental policies. There is a gap between the ways in which this issue is discussed in political spheres and the evidence provided by economic literature on it. The aim of this paper is to bridge this gap by presenting the context and policy debate surrounding carbon leakage and CBAs in the EU, reviewing the state of the economic literature on this topic, and discussing further research that is necessary to answer remaining policy concerns and unresolved research questions.
Mot(s) clé(s)
climate policy, carbon border adjustment, carbon leakage
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