Economics, Econometrics and Finance
8 years ago

EU Emissions Trading System Overhaul Needed to Spur Climate Action

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SSRN Electronic Journal
The European Emissions Trading System (EU ETS): Ex-Post Analysis, the Market Stability Reserve and Options for a Comprehensive Reform
Brigitte Knopf, Nicolas Koch, Godefroy Grosjean, Sabine Fuss, Christian Flachsland, Michael Pahle, Michael Jakob, Ottmar Edenhofer

Paper Summary

The European Emissions Trading System (EU ETS) is being reviewed due to low carbon prices. Emissions have decreased, but low prices may hinder investment in clean technologies. Political factors and uncertainty are likely causing the price decline. A proposed reform suggests setting price boundaries to stabilize the market. Additional policies for innovation and addressing carbon leakage are recommended to improve the effectiveness of the EU ETS.

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