The participation of financial actors is a key design issue in all emissions allowance markets.
Although financials perform several necessary market functions, excessive speculation may …

Carbon markets–both emission trading systems and baseline and credit systems–are an
increasingly common policy instrument being introduced to address climate change …

This paper is an empirical investigation of the role of banks in the EU Emissions Trading
System (EU ETS). This topic is of particular interest considering that banks are responsible …

Emissions from international shipping accounted for an average of 2.4% of global annual
greenhouse gas (GHG) emissions between 2007 and 2012 and are expected to increase by …

At present, the key policy challenges are twofold, first, preventing a climate catastrophe and,
second, overcoming the social and economic crisis. The first challenge calls for a reduction …

This is part 2 of a paper that revisits the European Union's Emissions Trading System (EU
ETS) in an attempt to take stock of how the system has worked and evaluate it from the …

This is part 1 of a paper that revisits the European Union's Emissions Trading System (EU
ETS) in an attempt to take stock of how the system has worked and evaluate it from the …

The rationale for establishing carbon markets is based on the economic theory of market
externalities. This theory was initiated by the work of RH Coase in 1960, thanks to an article …

Voluntary carbon markets (VCMs) have expanded substantially over recent years and are
regarded by many as a promising new tool in the fight against climate change. They deliver …

Neither a gradually rising carbon tax nor emission trading schemes can ensure that the
costs of emitting greenhouse gases, in particular CO2, will steadily rise faster than the …