On 23 October 2001 the European Commission adopted a proposal for a directive for trade in greenhouse gas emissions. Following the US experience of emissions trading systems, this marks the first large-scale attempt to deploy this instrument of environmental policy in Europe. The proposal places...

This discussion paper reviews the literature on experiences with innovation under the existing emissions trading schemes in the USA. The basic result from this review is that the innovation effects triggered by emissions trading have been limited because a) targets were not constraining in the...

Governance has definitely become a very iridescent concept in recent years. The term is widely used, meanwhile, in almost all social-science disciplines as well as in the political process. The intention of this paper is not so much to clarify these sometimes vague meanings but to highlight some...