The EU Emissions Trading System - Seven Years On
Article from: OGEL 3 (2012), in OGEL Ten Years Special Issue: Internationalisation of Energy Law
Introduction
As the flagship instrument for domestic and international climate change policy of the EU and the so-called European Economic Area , comprising of Norway, Iceland and Liechenstein, the EU ETS had a bumpy start, especially in its first (pilot) phase (2005-07), suffering from a number of 'teething problems'. These were partly the result of the rapid speed with which the ETS was adopted, motivated by the EU's desire to show a strong determination to tackle climate change. This should, however, not hide the fact that the ETS suffered from some serious design flaws, which ...