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New reforms to the EU’s emissions trading system are welcome, but the devil will be in the details

Taschini, Luca (2015) New reforms to the EU’s emissions trading system are welcome, but the devil will be in the details. LSE European Politics and Policy (EUROPP) Blog (27 Jul 2015). Website.

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Abstract

The EU’s emissions trading system employs a ‘cap and trade’ framework under which a ‘cap’ on the level of greenhouse gas emissions is set, with allowances for emissions becoming tradable between business and other actors. Since the financial crisis, however, a surplus of emission allowances has built up, undermining the effectiveness of the system. Luca Taschini writes on a recent proposal, approved in the European Parliament on 8 July, to tackle this problem by creating a so called ‘Market Stability Reserve’. He argues that while this should be seen as a positive development, its impact will depend heavily on the details of the reform that are eventually agreed between national governments.

Item Type: Online resource (Website)
Official URL: http://blogs.lse.ac.uk/europpblog/
Additional Information: © 2015 The Author(s); Online
Divisions: LSE
Subjects: G Geography. Anthropology. Recreation > GE Environmental Sciences
H Social Sciences > HB Economic Theory
J Political Science > JN Political institutions (Europe)
Date Deposited: 28 Mar 2017 10:26
Last Modified: 08 Aug 2020 23:13
URI: http://eprints.lse.ac.uk/id/eprint/71089

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