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The European Emission Trading System [1]

Transworld Papers [2]

The European Emission Trading System: Flashing Lights, Dark Shadows and Future Prospects for Global ETS Cooperation

[3]
Autori:
Simone Borghesi [4]
Massimiliano Montini [5]
13/05/2013

This paper examines the main legal and economic aspects of the EU Emission Trading System (EU ETS), with a particular emphasis on its features with respect to previous cap-and-trade regimes, its environmental and technological effectiveness and its potential role as a prototype for a global emission trading system. The EU has surprisingly changed its role from follower to forerunner in the ETS race. Despite being a prototype for other countries, however, the EU experience has shown a mixed skylight, characterized by flashing lights and dark shadows. Keeping this in mind, the paper investigates the prospects for the extension of the EU ETS on a global scale, examining whom should regulate the global ETS and how. Three possible options are identified and discussed: (i) a worldwide ETS; (ii) a global network of regional/domestic ETS regimes; (iii) a linkage scheme between interacting regional/domestic ETS blocks.

Documento prodotto nell'ambito del progetto IAI Transworld [6].

TW_WP_26.pdf [3]

Dettagli

  • Dati bibliografici

    Roma, Istituto affari internazionali, 2013, 13 p.
  • In:
    Transworld Papers [2]
  • Numero

    26

Indice

Introduction
1. Origin of the EU ETS: From the US to the EU and Backwards
2. Lights and Shadows of the EU ETS
3. Environmental and Technological Effectiveness of the EU ETS in the Period 2005-2012
4. Prospects for a Global Network of Emission Trading Systems
Conclusions
References


Source URL:https://www.iai.it/it/pubblicazioni/c40/european-emission-trading-system

Collegamenti
[1] https://www.iai.it/it/pubblicazioni/c40/european-emission-trading-system [2] https://www.iai.it/it/pubblicazioni/lista/all/transworld-papers [3] https://www.iai.it/sites/default/files/TW_WP_26.pdf [4] https://www.iai.it/it/persone/simone-borghesi [5] https://www.iai.it/it/persone/massimiliano-montini [6] https://www.iai.it/it/ricerche/transworld-redefining-transatlantic-relationship-and-its-role-shaping-global-governance