ETS as a Trojan Horse?
Analyzing responses from policy consultations, Jochen Markard (SusTec) and Daniel Rosenbloom (University of Toronto) find, among other issues, that many prominent industrial actors "support the EU ETS not because it will drive a low-carbon transition but because it will not".
Our new Downloadstudyvertical_align_bottom in Climate Policy finds that the majority of European industry actors contend that climate policy should focus on the ETS as the single best and only response. This is "understandable given that decades of climate policy orthodoxy have inculcated the benefits of carbon pricing".
However, recognizing the urgency of the climate crisis, we argue for a policy mix based on sustainability transition perspectives focusing on both decline and innovation. We view our argument as complementary to the growing body of work adopting a more politically-sensitive approach to climate policy.