As many countries, regions, cities, and states implement emissions trading policies to limit CO2 emissions, they turn to the European Union's experience with its emissions trading scheme since 2005. As a prominent example of a regional carbon pricing policy, it has attracted significant...

The European emissions trading scheme (EU ETS) has an efficient and effective market design that risks being undermined by three interrelated problems: the approach to allocation; the absence of a credible commitment to post-2012 continuation; and concerns about its impact on the international...

The reality of trying to raise substantial long-term revenues for international climate finance, including the outcome of the High-Level Advisory Group on Climate Change Financing, is revealing the need for fresh thinking on finance sources which takes account of political realities....