The EU Emissions Trading Scheme (EU ETS) has been characterized as one of the most far-reaching and radical environmental policies for many years. Given the EU's earlier resistance to this market-based and US-flavoured programme, the development and implementation of the EU ETS has been rapid. This novel approach to environmental regulation has the potential to affect not only greenhouse gas emissions in the EU, but also international strategies for climate change protection. This book investigates the origins, evolution and consequences of the EU ETS and offers significant contributions to the literatures on climate policy and EU policy making.
'EU emissions trading was always - and remains - an ambitious project. Few, if any, of those involved would have expected the scheme to have been put in place by the European Union so quickly. Here is a meticulously researched account of how and why it happened. On the basis of original documentation and first-hand accounts, this important work re-constitutes the various stages of the process, from conception to implementation…will fascinate political scientists and policy-makers, as well as those interested in European integration and environmental protection.' Peter Vis, European Commission, Belgium 'Solidly built on political science concepts, this book convinces with its systematic and comprehensive exploration of the emergence, development and effectiveness of the EU Emissions Trading system - an asset for any bookcase on EU and global environmental governance.' Sebastian OberthÃ¼r, Vrije Universiteit Brussels, Belgium 'The authors tell the real story of the politics behind the EU ETS. By resolving the mystery as to why it was the EU that implemented the first international CO2 trading scheme, this book fills a crucial research gap for those working on EU and international environmental policy. At the same time, the book is a fine case study of how the EU works in practice, making interesting reading for scholars of European integration.' Christian Egenhofer, Centre for European Policy Studies (CEPS), Brussels and University of Dundee, UK 'Skjaerseth and Wettestad's book is a valuable addition to the literature on the EU ETS and certainly useful for readers not familiar with climate policy. It captures some of the important views of key players who had a role in this historic event.' Climate Policy '…Besides giving a detailed analysis of "why, how and with what consequences" the EU ETS developed, SkjÃ¦rseth and Wettestad's main added value lies in the systematic approach to the subject. By testing propositions that could explain the development of