EEA publishes review of first EU ETS trading period

The European Environment Agency has published a comprehensive report on the implementation of the EU ETSⁱ by Member States, following the termination of the first trading period (2005-2007). The report presents the experiences of Member States on implementing the trading system, covering specific information on the trading year 2007 as well as some findings from the whole first trading period. The report also contains a short discussion about the risk of carbon leakage. The EEA says that the first trading period from 1 January 2005 to 31 December 2007 can be seen as an exploratory phase, taking into account that the EU ETS is the first multinational emissions trading scheme of this magnitude. It says that a number of lessons have been learned, and that there is still room for further alignments. The EEA report is available here