Climate change

Climate Change Policy and Regulation
Research on the International and EU Climate Change legislative framework and future scenarios. Special focus on the economic instruments suitable to fight climate change, such as tradable permits and environmental taxes

European Emission Trading Scheme (EU ETS)
Research on the regulation of the European Emissions Trading Scheme (EU ETS). Legal and economic analysis of the main problems emerged during the first trading phases (e.g. price volatility, over-allocation, windfall profits for incumbents), of the optimal initial allocation criterion (auction versus grandfathering) and of the possible future perspectives

Linking EU ETS with other existing emission trading schemes at a global level
Research on linking the EU ETS, through coordination or harmonization, with other existing domestic and regional emission trading schemes at a global level. Focus on the assessment of various possible options for the establishment of a global carbon market

Present and future of the global carbon markets: towards the New Market Mechanism
Research on the development of the post-Kyoto climate change negotiations and, in particular, on the possibilities for developing a New Market Mechanism (NMM) under the UNFCCC, which will complement the CDM and the Joint Implementation (JI)