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has emerged to identify the factors that shape the price of carbon, where one European Union Allowance is equal to one ton … variation of the price of carbon: institutional decisions; energy prices and weather events; macroeconomic and financial market …
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The first pillar of the old paradigm of carbon pricing is the assumption that an emissions trading scheme is the most cost-efficient way to achieve a certain emission reduction target. However, it has become obvious that the old paradigm is unable to solve a number of challenges, e.g. market...
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