EU Emissions Trading: Achievements and Challenges

Jørgen Wettestad

Chapter Chapter Four in Toward a Common European Union Energy Policy, 2011, pp 87-111 from Palgrave Macmillan

Abstract: Abstract The European Union Emissions Trading Scheme (EU ETS) is based on an EU Directive that was adopted in 2003 and started functioning in 2005 (Skjærseth and Wettestad 2008).1 It caps industrial emissions and allows trade of emission rights (hereafter: “allowances”).2 EU officials refer to the ETS as both the “cornerstone” and the “flagship” of EU climate policy.3 As it represents something completely new for the EU, analysts have called the ETS the “new grand experiment” (Kruger and Pizer 2004).

Keywords: Clean Development Mechanism; Climate Policy; Emission Trading; Carbon Price; Emission Trading Scheme (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11981-9_5

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DOI: 10.1057/9780230119819_5

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