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EU Emissions Trading Scheme and an Optimal Mix of Climate Policies

The Emissions Trading Scheme (ETS) creates a framework for reducing EU-wide emissions by placing a price on emitting carbon. Since the third phase of the ETS introduced the auctioning of allowances from 2013 on, it is increasingly clear that the price signal sent by the ETS will require other policies to drive the deep emissions reductions needed by 2050. RAP... Read More