A steel industry was, like all other market sectors, struck by financial and economic crises whose impacts are noticeable even a couple years after, in 2015. In such an uncertain and unstable environment, it is severely crucial to achieve the maximum efficiency of business processes. Steel companies in the EU are under the effect of carbon trading which can be both a competitive advantage (but rather) a threat. This paper is focused on assessing the efficiency of steel companies’ emission management and exploring the influence of two important factors of this process – emission price and a possibility of banking (transferring of unused allowances to following periods). This impact is researched using the real historical data of four large steel companies in the Czech Republic. Several scenarios of both companies’ behaviour and alternative conditions of the emission trading system are considered and assessed.Keywords: EU ETS, EUA, emission price banking, steel companies, CO2
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