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Rescuing Eu Emissions Trading : The Climate Policy Flagship (Hardcover) (Ju00f8rgen Wettestad &
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Thisbook tells the fascinating story of how the EU’s emissions trading system – itsclimate policy flagship - was rescued. In spring 2013 the ETS was in severecrisis, with a huge surplus of allowances and a sagging carbon price. Even aformally simple measure to change the timing of auctioning was initiallyrejected by the European Parliament. Two years later a much more important‘market thermostat’ was adopted (i.e. the Market Stability Reserve) andproposals for a complete ETS overhaul were put on the table. This book examinesand explains how it was possible to turn the flagship around so quickly.Crucial changes at national and EU levels are identified, chief among them inGermany and the European Parliament.