Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/74271
Authors: 
Catenacci, Michela
Buchner, Barbara
Sgobbi, Alessandra
Year of Publication: 
2007
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 54.2007
Abstract: 
The European Union Emission Trading System (EU ETS) is a landmark environmental policy, representing the world’s first large-scale greenhouse gas (GHG) trading program. The coexistence of state actors and top-down processes with stakeholders participation and flexible abatement strategies make the EU ETS a powerful instrument of cross sectoral integration of environmental concerns, which benefits from a high level of interaction among the actors involved and a significant degree of information exchange. However, the same peculiarities of the system make it difficult to identify a correspondence with a single mode of governance. The EU ETS shows characteristics of the decision making processes and institutions engaged, the tools and instruments used as well as the actors involved, which change according to the different levels of governance, and belong both to the old and to the new modes of governance. The emission trading scheme represents a clear example of Multi-Level governance, where the different modes of governance interact among them and affect each other.
Subjects: 
Environmental Policy Integration
Climate Change
Emission Trading
EU Policy
JEL: 
H23
F53
Q28
Document Type: 
Working Paper

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