Jump to ContentJump to Main Navigation
Emissions Trading as a Policy InstrumentEvaluation and Prospects$
Users without a subscription are not able to see the full content.

Marc Gronwald and Beat Hintermann

Print publication date: 2015

Print ISBN-13: 9780262029285

Published to MIT Press Scholarship Online: January 2016

DOI: 10.7551/mitpress/9780262029285.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 04 August 2021



What We Know and What We Don’t Know

(p.25) 2 The EU ETS
Emissions Trading as a Policy Instrument

A. Denny Ellerman

The MIT Press

The European Union’s Emissions Trading System (EU ETS) is the most salient example of emissions trading being used as a climate policy instrument, which many would argue is the most promising form for an eventual global climate regime. These keynote remarks address what is known and not known about the functioning of this instrument in this pioneering, multinational cap-and-trade system. The discussion proceeds through topics that can be considered settled, those that remain to be addressed, and some that remain unsettled. The conclusion is that the EU ETS works in the sense of achieving its basic objective, but that understanding of how and why it works rests more on theory than on empirical verification. This essay can also be seen as presenting an agenda for research on the EU ETS.

Keywords:   Emissions trading, EU ETS, climate policy instrument, global policy regime, research agenda

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.