The EU-wide Emission Trading Scheme (ETS), established in 2005, is a key pillar of Europe¿s strategy to attain compliance with the Kyoto Protocol. Under this scheme, CO2 allowances have thus far been allocated largely free of charge. This paper demonstrates that such cost-free allocation,...

The EU-wide Emission Trading Scheme (ETS), established in 2005, is a key pillar of Europe's strategy to attain compliance with the Kyoto Protocol. Under this scheme, CO2 allowances have thus far been allocated largely free of charge. This paper demonstrates that such cost-free allocation,...

The EU-wide Emission Trading Scheme (ETS), established in 2005, is a key pillar of Europe¿s strategy to attain compliance with the Kyoto Protocol. Under this scheme, CO2 allowances have thus far been allocated largely free of charge. This paper demonstrates that such cost-free allocation,...

Mit dem im Jahr 2005 etablierten Handel von Emissionszertifikaten für Kohlendioxid (CO2) möchte die Europäische Union der im Kiotoprotokoll festgelegten Verpflichtung nachkommen, nach der die CO2-Emissionen im Zeitraum 2008 bis 2012 durchschnittlich um 8% geringer ausfallen sollten als 1990....