Lessons from the EU’s carbon permit market

This year, the EU announced reforms to its Emissions Trading Scheme (ETS) which, if introduced, would boost the price of each carbon permit and ultimately help the bloc to rapidly reduce its greenhouse gas emissions. In the first of a two-part Focus series, we explain the lessons that other countries can learn from the EU’s experience of an ETS. In the second Focus, we will analyse the implications of these new reforms and initiate coverage of the European carbon permit price.