Bayer, Patrick, and Michaël Aklin. 2020: “The European Union Emissions Trading System Reduced CO2 Emissions despite Low Prices.”

Bayer, Patrick, and Michaël Aklin. 2020: “The European Union Emissions Trading System Reduced CO2 Emissions despite Low Prices.”[nbsp]Proceedings of the National Academy of Sciences,[nbsp]first published April 6, 2020.[nbsp]https://doi.org/10.1073/pnas.1918128117.

„We argue that despite low prices, carbon markets can help reduce emissions. Using a statistical model and sectoral emissions data, we find that the EU ETS, which initially regulated roughly 50% of EU carbon emissions from mainly energy production and large industrial polluters, saved more than 1 billion tons of CO₂[nbsp]between 2008 and 2016.“

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