Climate policy: Reforming emissions trading

Edenhofer, Ottmar
August 2014
Nature Climate Change;Aug2014, Vol. 4 Issue 8, p663
Academic Journal
The author discusses the controversy behind European Union Emissions Trading Scheme as a European climate policy to address climate change and reduce emissions of industrial greenhouse gas. He says that the carbon price that the scheme sets is too low to incentivize a switch from coal to low- or zero-emission alternatives. He also emphasizes that as an intertemporal trading scheme, prices of carbon should reflect expectations of future allowance scarcities in times of non-binding caps.


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