The European Union Emissions Trading Scheme: Origins, Allocation, and Early Results

  title={The European Union Emissions Trading Scheme: Origins, Allocation, and Early Results},
  author={A. Denny. Ellerman and Barbara K. Buchner},
  journal={Review of Environmental Economics and Policy},
  pages={66 - 87}
The European Union Emissions Trading Scheme (EU ETS) is the world's first large experiment with an emissions trading system for carbon dioxide (CO2) and it is likely to be copied by others if there is to be a global regime for limiting greenhouse gas emissions. After providing a brief discussion of the origins of the EU ETS, its relation to the Kyoto Protocol, and its precedents in Europe and the U.S., this paper focuses on allowance allocation—the process of deciding who will receive the newly… 
The European Union Emissions Trading System: Ten Years and Counting
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
The EU's Emissions Trading Scheme: A Proto-Type Global System?
The European Union's Emission Trading Scheme (EU ETS) is the world's first multinational cap-and-trade system for greenhouse gases. As an agreement between sovereign nations with diverse historical,
European Union emission trading scheme (ETS). An analysis of its impact for Romanian economy ant its effectiveness
The world is allegedly warming in a detrimental way because our industrial activity is increasingly emitting the putative culprit for the warming which is the carbon dioxide. The preferred way to
Comparative analysis of the existing and proposed ETS
Emissions trading schemes (ETS) have been operational to control greenhouse gas emissions in European Union since 2005. Under the EU ETS, the governments of the Member States agree on national
The Origin, Evolution and Consequences of the EU Emissions Trading System
The EU Emissions Trading System (EU ETS) is the cornerstone of EU climate policy, a grand policy experiment, as the first and largest international emissions trading system in the world. In this
What You Should Know to Trade in CO2 Markets
Since the ratification of the Kyoto Protocol by a large number of countries, carbon trading has been expanding continuously. The objective of this chapter is to study the trading of Kyoto credits. We
Emissions Trading at Work: The EU Emissions Trading Scheme and the Challenges for Large Scale Auctioning
Arguably, the climate talks in Copenhagen in December 2010 did not deliver on the high expectations the world had raised for a post-Kyoto agreement. But the commitment to confront climate change at
Personal carbon trading in the context of the EU Emissions Trading Scheme
Although several personal carbon trading (PCT) scheme designs have been mapped, the practical challenges in the context of existing EU climate policies have not been addressed in detail. The
Fixing the EU Emissions Trading System Understanding the Post-2012 Changes
This article explains why the significant changes in the EU Emissions Trading System (EU ETS) for the 20132020 phase were adopted in 2008. The combination of a more stringent EU-wide cap, allocation
Reflections—The Emerging Literature on Emissions Trading in Europe
  • F. Convery
  • Economics
    Review of Environmental Economics and Policy
  • 2009
The European Union Emissions Trading Scheme (EU ETS), inaugurated in 2005, is arguably the most important application of environmental economics the world has ever seen. It has generated an important


Designing National Allocation Plans for Eu-Emissions Trading — A First Analysis of the Outcomes
In this paper the main design issues of 16 National Allocation Plans (NAPs) are presented in a systematic way for the first period (2005–2007) of the EU Emissions Trading System (EU ETS). These NAPs
Tradable permits for greenhouse gas emissions : a primer with particular reference to Europe
This paper is written as part of a two-year study of climate change policy choices facing Sweden, conducted under the auspices of the Center for Business and Policy Studies in Stockholm. As such, it
Over-Allocation or Abatement? A Preliminary Analysis of the EU Ets Based on the 2005 Emissions Data
This paper provides an initial analysis of the EU ETS based on the installation-level data for verified emissions and allowance allocations in the first trading year. Those data, released on May 15,
Auctioning of EU ETS phase II allowances: how and why?
Abstract The European Directive on the EU ETS allows governments to auction up to 10% of the allowances issued in phase II 2008–2012, without constraints being specified thereafter. This article
Stringency and Distribution in the EU Emissions Trading Scheme - The 2005 Evidence
With the release of the verified emissions for installations covered by the EU Emissions Trading Scheme for the first trading year 2005 we are able to compare actual emissions and allowances for each
BP's emissions trading system
New Entrant and Closure Provisions: How do they Distort?
As a person whose life began in England and ended in North America and who maintained academic affiliations in the United Kingdom, Canada and the U.S., Campbell Watkins had a fine appreciation for
Overview of European national allocation plans, Caisse des Dépots Research Report No
  • 8 (April 2006). presse/publications doc/research report8
  • 2006
Private Rights in Public Resources: Equity and Property Allocation in Market-Based Environmental Policy
Introduction: Equity Norms in Environmental Policy 1. Licensed Property and Alternatives to the 'Gavel Theory' of Fairness in Public Policy 2. A Property Theory Framework 3. The Present: SO2 Emission
Allocation in the European Emissions Trading Scheme
A critical issue in dealing with climate change is deciding who has a right to emit carbon dioxide. Allocation in the European Emissions Trading Scheme provided the first in-depth description and