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Is European climate policy the new CAP?

Georg Zachmann ()

Policy Briefs from Bruegel

Abstract: In its third phase (2013-20) the European Union's emissions trading system (ETS) will issue allowances for around two billion tonnes of CO2 equivalent each year. The emission rights are valued at around 30-35 billion at current prices, between one-half and two-thirds of the amount the EU spends on the Common Agricultural Policy. The redistributive effects of the allocation of emission allowances are therefore potentially significant. Quantitative indicators for the relative...

Date: 2011-01
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