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Backloading: A necessary, but not sufficient first step - Submission to the European Commission
The EU ETS (Emissions Trading System) is a pure regulatory construct and one that has functioned well as a market. An ETS should be the most cost-effective system to promote reductions in greenhouse gases and act as the cornerstone in EU’s climate policy. Currently, some have the perception that the EU ETS has not delivered on some of its implicit objectives, including to serve as an instrument to encourage investments to meet long-term targets for GHGs in 2050.