Voluntary environmental agreements have been popular with government agencies in several countries. However, many questions remain about their efficiency as a regulatory tool. Recent analyses suggest that they are more effective than classical regulatory or economic approaches when dealing with...

This study uses the EU public power generating sector as a case study to investigate the environmental efficiency and productivity enhancing performance of the European Union's CO2 Emissions Trading Scheme (EU ETS) in its pilot phase. Using Data Envelopment Analysis methods, we measure the...