The European Union Emissions Trading System : should we throw the flagship out with the bathwater ?
The European Union Emissions Trading System (EU-ETS), presented as the “flagship’’ of European climate policy, is subject to many criticisms from different stakeholders. Criticisms include the insufficient carbon emissions reduction, the competitiveness losses and the induced carbon leakages, the unfair distributional effects, the frauds and the existence of several other overlapping climate policy instruments…