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A. Denny Ellerman



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August 2008

"The EU Emission Trading Scheme: A Prototype Global System?"

Discussion Paper

By A. Denny Ellerman

"The European Union's Emission Trading Scheme (EU ETS) is the world's first multinational cap-and-trade system for greenhouse gases. As an agreement between sovereign nations with diverse historical, institutional, and economic circumstances, the EU ETS can be seen as a prototype of an architecture for an eventual global climate regime."

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