Pricing Carbon - The European Union Emissions Trading Scheme

The European Unions Emissions Trading Scheme (EU ETS) is the worlds 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 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 (25-7). 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
List of tables
List of boxes
List of appendices
Frequently used abbreviations
1. Introduction
2. Origins and development of the EU ETS
3. Allowance allocation
4. Effects of free allocation
5. Market development
6. Emissions abatement
7. Industrial competitiveness
8. Costs
9. Linkage and global implications
1. Conclusions
11. Annex: the interaction between the EU ETS and European electricity markets
12. Appendices
13. Bibliography
Index.