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The ETS Post-2008 Years: From Crisis and Turmoil to ‘Market Thermostat’

  • Jørgen Wettestad
  • Torbjørg Jevnaker
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  • 276 Downloads

Abstract

This chapter presents a chronological overview of main ETS developments from 2009 to 2015, providing a factual foundation for the more in-depth and focused analysis in Chap. 5. Important events include the onset of the financial crisis, the related build-up of an allowance surplus and a falling carbon price, a reform process launched in 2012 including temporary (backloading) and structural reform options, a nadir reached in spring 2013 when Parliament rejected backloading, the Commission then launching the Market Stability Reserve option with momentum increasing and the MSR adopted in spring 2015, followed by a complete ETS reform proposal.

Keywords

Carbon Price Structural Reform Environment Minister Carbon Leakage Environment Committee 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

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Authors and Affiliations

  • Jørgen Wettestad
    • 1
  • Torbjørg Jevnaker
    • 1
  1. 1.Fridtjof Nansen InstituteLysakerNorway

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