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A policy analysis of the EU Emissions Trading System and its crisis

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  • Ruf, Julia Anna

Abstract

This paper provides a policy analysis of the EU Emissions Trading System and its crisis. The aim of the research is to give an answer to the question why the EU Emissions Trading System is in crisis and cannot be revised in an effective way. Therefore, the policy process of the revision of the EU Emissions Trading System for its third phase is analysed. The research is based on the theoretical assumptions of the historical-materialist policy analysis, which also serves as an analytical tool. The main result of the analysis is that the framing of neoliberalism has shaped the construction and the further revisions of the system. For this reason, the EU Emissions Trading System can be considered to be in crisis because it is based on neoclassical assumptions, which are not suitable for tackling the issue of climate change. Revisions will not lead to a success of the system as long as it is based on neoclassical economics. However, the current strength of neoliberalism makes a turning away unlikely.

Suggested Citation

  • Ruf, Julia Anna, 2017. "A policy analysis of the EU Emissions Trading System and its crisis," IPE Working Papers 82/2017, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    • Handle: RePEc:zbw:ipewps:822017
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    References listed on IDEAS

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    1. Engelbert Stockhammer, 2013. "The Euro crisis and contradictions of Neoliberalism in Europe," Economics Discussion Papers 2013-2, School of Economics, Kingston University London.
    2. Stern,Nicholas, 2007. "The Economics of Climate Change," Cambridge Books, Cambridge University Press, number 9780521700801.
    3. Jon Birger Skjærseth & Jørgen Wettestad, 2010. "Fixing the EU Emissions Trading System? Understanding the Post-2012 Changes," Global Environmental Politics, MIT Press, vol. 10(4), pages 101-123, November.
    4. Jørgen Wettestad, 2014. "Rescuing EU Emissions Trading: Mission Impossible?," Global Environmental Politics, MIT Press, vol. 14(2), pages 64-81, May.
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    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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