Pricing Carbon: The European Union Emissions Trading Scheme
A. Denny Ellerman Massachusetts Institute of Technology
Frank J. Convery University College Dublin
Christian de Perthuis Université de Paris IX (Paris-Dauphine)

With contributions by
Emilie Alberola
Barbara K. Buchner
Anaïs Delbosc
Cate Hight
Jan Keppler
Felix Chr. Matthes

© Cambridge University Press

2010 | ISBN-10: 0521196477 | 390 Pages | PDF | 3 MB

The European Union's Emissions Trading Scheme (EU ETS) is the world's largest market for carbon and the most significant multinational initiative ever taken to mobilize markets to protect the environment. It will be an important influence on the development and implementation of trading schemes in the US, Japan, and elsewhere. However, as is true of any pioneering public policy experiment, this scheme has generated much controversy. Pricing Carbon provides the first detailed description and analysis of the EU ETS, focusing on the first 'trial' period of the scheme (2005-7). Written by an international team of experts, it allows readers to get behind the headlines and come to a better understanding of what was done and what happened based on a dispassionate, empirically based review of the evidence. This book should be read by anyone who wants to know what happens when emissions are capped, traded, and priced.


Contents

List of figures	vii
List of tables	xi
List of boxes	xiii
List of appendices	xiv
Frequently used abbreviations	xv
Preface	xvii
1     Introduction	1
2     Origins and development of the EU ETS	9
3     Allowance allocation	32
4     Effects of free allocation	85
5     Market development	122
6     Emissions abatement	158
7     Industrial competitiveness	193
8     Costs	235
9     Linkage and global implications	260
10    Conclusions	287
Annex: The interaction between the EU ETS and European electricity markets	293
Appendices	329
Bibliography	346
Index	360

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