Emissions Trading

For almost a decade CEPS has contributed to the EU debate on development of the EU emissions trading scheme (ETS), a flagship of the EU climate policy in general and a key policy instrument to meet the EU’s Kyoto Protocol target (2008-12) in particular.  Some CEPS Task Forces have examined possible impacts of the EU ETS in various design options on GHG emissions, economic efficiency, technology deployment or innovations at EU levels. Other Task Forces have focused on existing flexible mechanisms, especially the Clean Development Mechanism (CDM) with a view to exploring the ways forward for progressive expansion of carbon markets beyond the EU ETS.

Selected recent events

Diego Valiante, Research Fellow of the European Capital Market Institutes (ECMI) and CEPS, gave a talk on the potential need for better oversight of ETS allowance trading at a DG CLIMA Workshop on 4 May 2011.

Christian Egenhofer moderated a high-level panel on "Bidding for the better: The EU ETS moves to auctioning", hosted by Deutsche Bank, Brussels, 12 January 2011.

Christian Egenhofer spoke on "The role of the EU ETS in future EU and global climate change policy"on 12 December 2010 in Stockholm, at a seminar entitled "European Union Emissions Trading System: Role and consequences for industry", hosted by the Clipore Research Programme.

Side Event at the UNFCCC climate change negotiations in Cancún, Mexico (COP 16), 2 December 2010, hosted by the CEPS Task Force on "The carbon market after Copenhagen: Challenges and the way forward for the EU". 

CEPS lunchtime meeting on "The EU Emissions Trading System (ETS) and Climate Change Policy towards 2050: Real incentives to reduce global emissions?", 1 December 2010.

Noriko Fujiwara spoke on the "Analysis of a Carbon Market Potential in the MED-11" at the MEDPRO Scientific Workshop, FEEM, Milan, November 2010


Externally published Book Chapters

Egenhofer, C., (2009) "The New EU Emissions Trading Scheme: a Blueprint for the Global Carbon Market?", in: Harris J. and N. Goodwin (eds.), 21st Century Macroeconomics: Responding to the Climate Challenge. Cheltenham UK and Northampton MA: Edward Elgar Publishing, 2009, Chapter 11, pp. 250-268

Externally published Journal Articles

Egenhofer, C., (2007), "The Making of the EU Emissions Trading Scheme: Status, Prospects and Implications for Business", European Management Journal, Vol. 25, n° 6, pp. 453-463, December 2007

Kruger, J. & C. Egenhofer, (2006) "Confidence through compliance in Emissions trading markets", Sustainable Development Law and Policy, Vol. IV (2), pp. 2-13 (Climate Law Special Edition 2006)

CEPS publications in this research area.

​          Energy                    Climate Change            Energy Climate House