What Have We Learnt from the European Union’s Emissions Trading System?
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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).
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- What Have We Learnt from the European Union’s Emissions Trading System?
Volume 41, Issue 1 Supplement, pp 12-22
- Cover Date
- Print ISSN
- Online ISSN
- Springer Netherlands
- Additional Links
- Emissions trading
- Carbon dioxide
- Climate change
- EU ETS
- Author Affiliations
- 1. International Energy Agency, 9 rue de la Féderation, 75239, Paris, France
- 2. Resources for the Future, 1616 P Street NW, Washington, DC, 20036, USA
- 3. University of Gothenburg, P.O. Box 640, 405 30, Göteborg, Sweden
- 4. IVL Swedish Environmental Research Institute, P.O. Box 210 60, 10031, Stockholm, Sweden