Publication

The centerpiece of EU climate change policy has since 2005 been the EU Emissions Trading System (ETS). Confidence in the effectiveness of the ETS has been shattered, however, by the simultaneous ‘failure’ of Copenhagen to deliver a clear prospect of a global agreement and the economic crisis. The lack of prospects for national caps at the international level has led to a situation whereby many member states hesitate to pursue ambitious climate change policies. This paper argues that for the EU there are still a number of promising areas for international cooperation, all centered on the need to ‘raise the ambition level’ of GHG emission reductions, notably in aviation and maritime, short-lived climate pollutions, deforestation, industrial competitiveness and green growth.