In this paper, discuss the ambition raising implications to engage in voluntary cooperation under Article 6 for the originating Parties.

The EU Emissions Trading System (EU ETS) is important through its role as the “cornerstone” of EU climate change policy as well as a “role model” and “pioneer” for carbon markets.

The International Carbon Action Partnership’s new report finds 2017 marks a key step forward for emissions trading.

Greenhouse gas emission benchmarks are widely implemented as a policy tool, as more countries move to implement carbon pricing mechanisms for industrial emissions. In particular, benchmarks are used to determine the level of free allowance allocation in emission trading schemes, which are distributed as a measure to prevent carbon leakage.

A growing body of evidence suggests that approaches to address the risk of leakage have not performed as intended, however, causing regulatory capture, perverse incentives, and windfall profits.

This 2017 report of the European Environment Agency (EEA) provides an analysis of past, present and future emissions trends under the European Union (EU) Emissions Trading System (ETS), based on the latest data and information available from the European Commission (July 2017 data on verified emissions and compliance by operators under the EU ET

Reflecting the growing momentum for carbon pricing worldwide, the 2017 edition of the State and Trends of Carbon Pricing targets the wide audience of public and private stakeholders engaged in carbon pricing design and implementation.