The EU Emissions trading scheme has been characterized as one of
the most far-reaching and radical environmental policies for many
years. Given the EU's earlier resistance to this market-based and
US-flavored program, the development and implementation of the
carbon emissions trading program has been rapid. This novel
approach to environmental regulation has the potential to
dramatically change international strategies for environmental
protection. Understanding the origins and evolution within the EU
is an important case study that offers significant contributions to
the literatures on policy learning and diffusion as well as
multilevel governance.
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