The European Union Emissions Trading System: Ten Years and Counting

Aufsätze referiert extern - Web of Science

Denny Ellerman, Claudio Marcantonini, Aleksandar Zaklan

In: Review of Environmental Economics and Policy 10 (2016), 1, S. 89-107


This article provides an introduction to the European Union (EU) Emissions Trading System (ETS). First we describe the legislative development of the EU ETS, its evolution from free allocation to auctioning and centralized allocation rules, its relationship to the Kyoto Protocol and other trading systems, and its relationship to other EU climate and energy policies. This is followed by an assessment of the performance of the EU ETS, which focuses in particular on emissions, allowance prices, and the use of offsets. We conclude with a discussion of the current debate about the future of the EU ETS and proposals for changes to both the EU ETS and the climate policy environment in which it operates.

Aleksandar Zaklan

Wissenschaftlicher Mitarbeiter in der Abteilung Energie, Verkehr, Umwelt

JEL-Classification: Q54;Q58