AMBIO

, Volume 41, Supplement 1, pp 12–22

What Have We Learnt from the European Union’s Emissions Trading System?

Authors

    • International Energy Agency
  • Dallas Burtraw
    • Resources for the Future
  • Åsa Löfgren
    • University of Gothenburg
  • Lars Zetterberg
    • IVL Swedish Environmental Research Institute
Article

DOI: 10.1007/s13280-011-0237-2

Cite this article as:
Wråke, M., Burtraw, D., Löfgren, Å. et al. Ambio (2012) 41: 12. doi:10.1007/s13280-011-0237-2

Abstract

The EU Emissions Trading System (ETS) demonstrated the ability to design and launch a large-scale trading system in a short period of time. The path from initial reticence about emissions trading to implementation of the world’s largest program is an important history. Three issues play a large role in the evaluation of the program to date and its on-going development: allocation plans, cost uncertainty, and leakage of emissions to abroad. Decisions in Phase I and II (2005–2012) were responsive to questions of political feasibility and implementation, but some of these decisions including allocation in particular will be substantially revised in Phase III (2013–2020).

Keywords

Emissions tradingCarbon dioxideClimate changeEU ETS

Copyright information

© Royal Swedish Academy of Sciences 2012