Review of literature on EU ETS Performance

The EU ETS has been subject to increasing levels of scrutiny as the policy instrument has been considered to have underperformed in recent times, also as a consequence of external shocks (i.e. economic recession). Although the European Council Conclusions reaffirmed in October 2014 that the EU ETS will remain the main instrument for GHG abatement, reform will be necessary to ensure that the EU ETS functions correctly in the future and delivers a GHG reduction of 43% below 2005 levels as outlined in the 2030 Framework. As the scheme enters a critical phase in its development, the Öko-Institut, Triple E & REC have been commissioned by the EEA to 1) perform a review of evaluations on the EU ETS and 2) to identify gaps that could be addressed in future research.