From the EU ETS to a Global Carbon Market: An Analysis and Suggestions for the Way Forward

摘要

The EU vision for a future international climate regime has the progressive development of a global carbon market at its core. This vision includes the main architectural elements, modes of participation, and the desired pace of implementation. In particular, the EU would like to have, by 2015, a robust OECD-wide carbon market created by linking domestic cap-and-trade systems (hereinafter ETSs) which are comparable in ambition and compatible in design.