The European Union Emissions Trading System: What Can We Learn from the Proposed Changes to One of the World’s Longest-Running Carbon Pricing Policies?

Ayşegül Kılınç and Milan Elkerbout
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Milan Elkerbout: Resources for the Future

No 26-08, RFF Issue Briefs from Resources for the Future

Abstract: On July 17, 2026, the European Commission published a proposal to revise the EU emissions trading system (ETS). ETS revisions tend to happen roughly every five years to account for changes in the European Union’s overall climate policy and the global economy. Earlier this year, the European Union confirmed its climate target for 2040 of reducing greenhouse gas (GHG) emissions by 90 percent relative to 1990. In this issue brief, we review some of the key proposed changes to the ETS design, especially as related to allowance allocation and other design elements that are relevant to industrial product regulation.

Date: 2026-10-13
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