Pricing Carbon: The European Union Emissions Trading Scheme

by A. Denny Ellerman , Frank J. Convery , Christian de Perthuis , With contributions by Emilie Alberola , Barbara K. Buchner , Anaïs Delbosc , Cate Hight , Jan Horst Keppler , Felix C. Matthes

• ISBN13: 9780521196475
• ISBN10: 0521196477
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-03-15
• Publisher: Cambridge University Press

Summary

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.

Table of Contents

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