Date of Award


Document Type

Masters Thesis

Degree Name


Organizational Unit

College of Arts Humanities and Social Sciences, Economics

First Advisor

Chiara Piovani

Second Advisor

Juan Carlos Lopez

Third Advisor

Markus Schneider

Fourth Advisor

Sarah Hamilton


Cap and trade, Climate stabilization, Emissions abatement, Enviromental economics, EU ETS, European Union's emission trading scheme


Carbon markets, established via cap & trade programs, are the dominant means by which climate stabilization is currently being pursued worldwide, with many centered around the European Union’s Emissions Trading Scheme. As such, a critical analysis of the EU ETS & its effectiveness is crucial to assess whether the EU carbon market is an effective mechanism to achieve climate stabilization. The effectiveness of the overall program was evaluated via a determination of whether the EU ETS, & to a greater extent the EU carbon market, has allowed for emissions reductions in line with the goal for climate stabilization set by the EU, whether emission reductions in line with the climate stabilization goals set by the scientific community were achieved, & a determination of the success of phase 1 of the EU ETS. An evaluation via these criteria indicate that the EU carbon market is a failure.

Publication Statement

Copyright is held by the author. User is responsible for all copyright compliance.

Rights Holder

Marceline Grey Swan


Received from ProQuest

File Format




File Size

121 p.


Economics, Environmental economics