The European Union's main tool in the fight against global warming - the emissions trading scheme (ETS) – has been hailed by environmental economists as a remarkable success, despite its wobbly start.
In a new journal – the Review of Environmental Economics and Policy – the environmental economists said the EU scheme was "by far the most significant accomplishment in climate policy to date," adding that "it will be central to future global climate negotiations."
They said that "th...
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