Before a post-Kyoto accord considering all aspects of countries emissions, a first step may be necessary to prepare Chinese and Indian businesses to new economic conditions internalizing the constraints of climate change. Carbon markets serve as a

This paper is meant to deliver input into the political discussion on Emission Performance Standards (EPS) in the EU power sector. The paper will explore the effects of the introduction of an EPS on electricity sector emissions until 2030 and discuss various EPS related implementation issues.