Some much needed momentum is finally building behind the EU’s emissions trading system

The EU emissions trading system (ETS) is a key component of the European Union’s policy for tackling climate change. The ETS works using a ‘cap and trade’ system, with a progressively tightening limit set on the amount of greenhouse gases that can be emitted by factories, power plants and other actors. Jørgen Wettestad and Torbjørg Jevnaker write that after a difficult period in which the ETS has struggled to meet its aims, the system finally looks to be building some momentum with greater consensus among EU governments and actors in the European Parliament on the way forward.