Salvaging the European Carbon Market. Will the Phoenix raises from his ashes?
(2016) Journal for European Environmental & Planning Law —
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- Abstract
- (en) Thanks to the ETS, the largest carbon market in the world has been created. Whilst pursuing ambitious objectives, this market has been subject to a considerable number of imperfections. The success of the ETS is dependent upon a progressive reduction of the individual emissions allocated by the Member State to the various installations, which implies first and foremost a sparing allocation of allowances with the aim of encouraging undertakings to invest in less polluting technologies. However, since the outset, the carbon market has suffered from an over-abundance of allowances granted by the Member States. Due to the unsatisfactory nature of the temporary freeze of allowances, the EU lawmaker sought to re-establish an incentive price signal by adopting decision (EU) 2015/1814 of 6 October 2015, which created the MSR that will become operational in 2019.
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Citations
de Sadeleer, N. (2016). Salvaging the European Carbon Market. Will the Phoenix raises from his ashes? Journal for European Environmental & Planning Law. https://doi.org/10.1163/18760104-01302002