The Paris Agreement calls on countries to pursue efforts to limit global average temperature rise to 1.5°C. We derive a 2016–2050 emission budget for the EU Emissions Trading System (EU ETS) based on cost-effectiveness criteria aimed at achieving the 1.5°C target with a 50%–66%...

With greenhouse gas (GHG) emissions decreasing by more than 18% in the 1990s, Germany appears to be among the few industrialised countries which are on track to meet the targets they committed themselves to under the Kyoto Protocol. This achievement may appear less remarkable if one takes into...