This working paper aims to shed light on the practical issues involved in policing carbon markets, such as new regulators with narrow authority and lack of legal precedent. Read more
EU ETS
This paper presents a new method for estimating the effects of regulations when treated and control firms compete on the output market. Read more
The sweeping measures proposed in the EU’s ‘Fit for 55’ package of climate legislation are without precedent and are set... Read more
This report describes Europe's 'Fit for 55 package and broader programme of legal reforms associated with the EU's climate ambitions, and looks at the role of climate litigation in shaping Europe's legislation. Read more
The authors of this paper develop preliminary elements of a diagnostic toolbox to assess the scale and impacts of speculation and apply it to the EU emissions trading system. Read more
This paper investigates the impact of the European Union Emissions Trading System (EU ETS) on carbon emissions and economic performance using the largest dataset published to date. Read more
This paper analyses the evolution of the EU ETS from a political economy perspective, emphasizing the interaction of economic principles and political interests at pivotal moments, and showing how each compromise changed the scope for future design choices. Read more
This report provides insights to inform the UK Government’s review on expansion of the UK Emissions Trading Scheme, focusing on three sectors that might fall within the scope of future policy changes. Read more
A new report from Energy Systems Catapult and the Grantham Research Institute on Climate Change and the Environment has found that while the UK Emissions Trading Scheme (ETS) could provide the backbone of an enduring economy-wide framework for reaching net zero, expanding it too early to sectors not yet covered risks undermining the scheme. Read more
The author of this paper provides a quantitative assessment of policy options to inform the 2021 review of the EU Emissions Trading System (ETS) and raise climate ambition. They use a permit trading model in which firms utilize rolling finite planning horizons, which replicates historical price and banking developments well compared to an in- finite horizon. Read more