This article deals with the issue of banking and borrowing in the context of the European Union Emissions Trading Scheme (EU ETS) by attempting to provide a policy-oriented unifying theoretical framework. After describing the main features of the EU ETS, the core part of the article consists of...

This article studies the price relationships between EU emissions allowances (EUAs) - valid under the EU Emissions Trading Scheme (EU ETS) - and secondary Certified Emissions Reductions (sCERs) - established from primary CERs generated through the Kyoto Protocol's Clean Development Mechanism...

This article critically examines the impact of industrial production for sectors covered by the EU Emissions Trading Scheme (EU ETS) on emissions allowance spot prices during Phase I (2005-2007). We find evidence that the effect of industrial production activity on EU carbon price changes shall...