The presentation will review what the EU ETS has accomplished to date and discuss whether it represents the path to a future global climate regime envisioned in the Kyoto Protocol or a dead end in the absence of US action and within the context of the more disjointed vision of the Copenhagen Accord.  Not least among the problems faced is the persistent feeling within Europe that the EU ETS has failed to accomplish much and the consequent pursuit of other instruments that further weaken the system.

This seminar has been jointly organized by FEEM and IEFE, Bocconi University.