Allocation in the European Emissions Trading Scheme: Rights, Rents and Fairness

Description

A critical issue in dealing with climate change is deciding who has a right to emit carbon dioxide. Allocation in the European Emissions Trading Scheme provided the first in-depth description and analysis of the process by which rights to emit carbon dioxide were created and distributed in the European Union. This was the world's first large-scale experiment with an emission trading system for carbon dioxide and was likely to be copied by others if there was to be a global regime for limiting greenhouse gas emissions. The book comprises contributions from those responsible for putting the allocation into practice in ten representative member states and at the European Commission. The problems encountered in this process, the solutions found, and the choices they made, will be of interest to all who are concerned with climate policy and the use of emissions trading to combat climate change.

Review of the hardback: 'This is an important book presenting a timely and thorough assessment of one of the crucial components of the EU ETS, the national allocation plans. The information and lessons of this book will help to further build up the EU ETS into an effective and efficient international market-based instrument and thereby secure its place as a major element in a hopefully rapidly expanding world-wide system of systems for abating greenhouse gas emissions.' Jacqueline McGlade, Executive Director, European Environment Agency Review of the hardback: 'Allocation in the European Emissions Trading Scheme offers an impressively detailed and sophisticated analysis of one of the most important and least understood aspects of emissions trading policies: the political allocation of rights. Anyone interested in market-based approaches to environmental problems should read this book.' Leigh Raymond, Associate Professor of Political Science and Associate Director of the Purdue Climate Change Research Center, Purdue University Review of the hardback: 'To say that the book is timely would be a very British understatement. It is a vital book about an important moment not only in EU history but in shaping the beginning of our long worldwide struggle with climate change and other environmental issues.' Thomas Sterner, Professor of Environmental Economics, University of Gothenburg Review of the hardback: 'No aspect of emissions trading is more important or less understood than permit allocation. This book does a masterful job of combining insider and analytical perspectives on the allocation process at work in the world's largest emissions trading program.' Tom Tietenberg, Mitchell Family Professor of Economics, Colby College