Linking the EU’s Emissions Trading System to any Future US Emissions Trading Scheme

As the worlds largest economy, the United States is also the largest consumer of fossil energy sources and the largest per capita emitter of greenhouse gases. Although the climate and energy policies adopted over the past decade have been insufficient to reverse continued emissions growth, a number of recent developments may cause this situation to change. A newly appointed administration and changed majorities in Congress are likely to create the most favourable conditions for ambitious federal legislation on climate policy in over a decade, while the regional, state and local levels continue to see vibrant initiatives to mitigate global warming. At all levels, emissions trading is being explored as a policy instrument to address GHG emissions. [...]