Evaluating the EU Emissions Trading System: Take it or leave it? An assessment of the data after ten years


Muûls, Mirabelle ; Colmer, Jonathan ; Martin, Ralf ; Wagner, Ulrich J.



URL: https://www.imperial.ac.uk/media/imperial-college/...
Additional URL: https://www.imperial.ac.uk/grantham/publications/e...
Document Type: Working paper
Year of publication: 2016
The title of a journal, publication series: Grantham Institute Briefing Paper
Volume: 21
Place of publication: London
Publishing house: Imperial College
Publication language: English
Institution: School of Law and Economics > VWL, Umweltökonomik, Industrieökonomik, Finanzwissenschaft (Wagner 2015-)
Subject: 330 Economics
333.7 Natural resources, energy and environment
Abstract: Since its inception in 2005, the EU ETS has changed the way that business is conducted in Europe by establishing a monetary value for the right to emit greenhouse gases that cause climate change. The scheme aims to limit and reduce greenhouse gas emissions from more than 12,000 power and manufacturing plants in 31 countries, which together account for around 45% of the EU’s greenhouse gas emissions (5% of global emissions). It is administrated by the European Commission (EC). Critics argue that stringent climate change policies in EU countries, without similar action in other countries, can only lead to a loss of competitiveness in global markets, with no real impact on global emissions (see box 2). Carbon- or emissions-trading is a market-based policy instrument that is designed to reduce emissions with minimal cost to society, while stimulating technological innovation to further reduce this cost in the future

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Muûls, Mirabelle ; Colmer, Jonathan ; Martin, Ralf ; Wagner, Ulrich J. (2016) Evaluating the EU Emissions Trading System: Take it or leave it? An assessment of the data after ten years. Grantham Institute Briefing Paper London 21 [Working paper]


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