The European Union Emissions Trading System: Ten Years and Counting

By A. Ellerman, C. Marcantonini, A. Zaklan. Review of Environmental Economics and Policy, 2016

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Carbon pricing in climate policy: seven reasons, complementary instruments, and political economy considerations (2017, methodology): “Further support for this comes from a comprehensive theoretical analysis.12 Examining the effect of the European carbon market (EU-ETS) on innovation, one study finds that carbon pricing is responsible for a 10% increase in clean innovation (measured by patents), in spite of the relatively low price”
Why does emissions trading under the EU Emissions Trading System (ETS) not affect firms’ competitiveness? Empirical findings from the literature (2018, methodology): “Since Phase III, an EU wide cap has been replacing the NAPs system thus centralizing the allocation system (Ellerman et al., 2016; Kruger, Oates, & Pizer, 2007).”
The impact of carbon disclosure mandates on emissions and financial operating performance (2020, background): “16 This cap-and-trade mechanism covers industries that account for about 45% of the European Union’s GHG emissions (Ellerman, Marcantonini, and Zaklan 2016).”