Frondel, Manuel; Schmidt, Christoph M.; Vance, Colin - Rheinisch-Westfälisches Institut für … - 2008
The EU-wide Emission Trading Scheme (ETS), established in 2005, is a key pillar of Europe’s strategy to attain … compliance with the Kyoto Protocol. Under this scheme, CO2 allowances have thus far been allocated largely free of charge. This … transition countries are integrated into a global emissions trading system. …