Pricing Carbon
The European Union Emissions Trading Scheme

The first detailed description and analysis of the European Union Emissions Trading Scheme.

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

9780521196475, Cambridge University Press

Hardback, published 28 January 2010

390 pages, 38 tables
23.5 x 15.8 x 2.2 cm, 0.75 kg

'With its empirical focus, this myth-busting book demonstrates the scheme's achievements and flags its ongoing challenges. … For those who want to learn the real lessons of the EU ETS experience, there is no better source than Pricing Carbon.' Nature

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.

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
10. Conclusions
Annex: the interaction between the EU ETS and European electricity markets
Appendices
Bibliography
Index.

Subject Areas: Environmental economics [KCN], Economics [KC]