The first attempt by any group of nations to establish a hard limit on greenhouse gas emissions – was a success, according to a new book, Pricing Carbon, coauthored by MIT CEEPR researcher Denny Ellerman and his coauthors Frank J. Convery of the University College Dublin, and Christian de Perthuis of the Université de Paris IX (Paris-Dauphine) with contributions by Emilie Alberola, Barbara K. Buchner, Anaïs Delbosc, Cate Hight, Jan Keppler, and Felix Chr. Matthes. Pricing Carbon provides the first detailed description and analysis of the EU ETS, focusing on the first ‘trial’ period of the scheme (2005–7).

The publication is the result of several years of research co-sponsored by CEEPR together with several other institutions, including MIT’s Joint Program on the Science and Policy of Global Change. The Doris Duke Charitable Foundation provided an important grant that supported CEEPR’s work on the project. Many of the individual pieces of research that inform the final book have appeared as CEEPR Working Papers.

The final release of the book on February 10 was an occasion for a day long conference at the Université de Paris IX (Paris-Dauphine).

(April 2010)