The allocation of European Union allowances : lessons, unifying themes and general principles
Name
2006-015.pdf
Size
160.41 KB
Format
Adobe PDF
Checksum (MD5)
d4309d67d7b9abc7468567fc85fd11e4
Author(s)
Buchner, Barbara
Carraro, Carlo
Ellerman, A. Denny
Date Issued
2006
Publisher
MIT Center for Energy and Environmental Policy Research
Series/Report no.
MIT-CEEPR (Series) ; 06-015WP.
Abstract
On January 1st, 2005, the EU Emissions Trading Scheme (EU ETS) scheme was officially launched, only two years after the European Council adopted the EU Emissions Trading Directive (European Community 2003). As a consequence of this formal start, the world's largest ever market in emissions has been established, and European companies now face a carbon-constrained reality in form of legally binding emission targets. Within essentially one year, 2004, the international carbon market has gained momentum through major policy developments and quick market responses, which among others have enabled the establishment of a framework for the EU carbon market.
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