Decentralization in the EU Emissions Trading Scheme and Lessons for Global Policy

  title={Decentralization in the EU Emissions Trading Scheme and Lessons for Global Policy},
  author={J. Kruger and W. Oates and W. Pizer},
  journal={Review of Environmental Economics and Policy},
  pages={112 - 133}
In 2005, the European Union introduced the largest and most ambitious emissions trading program in the world to meet its Kyoto commitments for the containment of global climate change. The EU Emissions Trading Scheme (EU ETS) has some distinctive features that differentiate it from the more standard model of emissions trading. In particular, it has a relatively decentralized structure that gives individual member states responsibility for setting targets, allocating permits, determining… Expand
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