Virtual Library File - The European Union Emissions Trading Scheme: should we throw the flagship out with the bathwater?
These experienced economic researchers argue that current reform proposals are not sufficient and that “a robust strategy to save the European climate policy should combine an attempt to reform of the ETS through the introduction of a price floor (and possibly a price ceiling), and the development of complementary policies, even in the electricity sector whose emissions are covered by the ETS, both because the ETS reform may fail and because the ETS cannot address all the relevant market failures”.