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A Glimmer of Hope: The EU Emissions Trading Scheme


Daniel H. Cole


Indiana University Maurer School of Law; Indiana University School of Public and Environmental Affairs; Indiana University Bloomington - Workshop in Political Theory and Policy Analysis

December 8, 2009


Abstract:     
Chapter 1 of my book SELLING HOT AIR: EMISSIONS TRADING AND OFFSETS (forthcoming CUP 2011) describes the theory and practice of emissions trading and offsets. Chapter 2 then examines and exposes the flaws in the Kyoto Protocol's comprehensive trading and offset systems. The present chapter (Chapter 3), examines the European Union's Emissions Trading Scheme (EU ETS) and finds that its more careful and limited use of emissions trading and offsets is a significant improvement over the Kyoto Protocol's comprehensive system mainly because the EU paid due attention to monitoring and other administrative costs associated with emissions trading and offsets. The chapter concludes that the EU ETS provides a template that the US should follow in its domestic policy, so that emissions trading systems in the US and EU might be easily linked, thereby creating an incipient global trading regime to supplant the more grandiose but unworkable Kyoto system. Subsequent chapters of the book will describe and explain why the EU model is unlikely to be followed in US domestic policy or in post-Kyoto international policy.

Number of Pages in PDF File: 54

Keywords: Climate change, Kyoto Protocol, European Union, Emissions trading, Emissions offsets

JEL Classification: K32, K23, L50

working papers series


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Date posted: January 9, 2010 ; Last revised: January 12, 2010

Suggested Citation

Cole, Daniel H., A Glimmer of Hope: The EU Emissions Trading Scheme (December 8, 2009). Available at SSRN: http://ssrn.com/abstract=1533566 or http://dx.doi.org/10.2139/ssrn.1533566

Contact Information

Daniel H. Cole (Contact Author)
Indiana University Maurer School of Law ( email )
211 S. Indiana Avenue
Bloomington, IN 47405
United States
Indiana University School of Public and Environmental Affairs ( email )
1315 East Tenth Street
Bloomington, IN 47405
United States

Indiana University Bloomington - Workshop in Political Theory and Policy Analysis ( email )
Indiana University Bloomington
Bloomington, IN
United States
(812) 855-4421 (Phone)
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