Skip to main content

Thank you for visiting You are using a browser version with limited support for CSS. To obtain the best experience, we recommend you use a more up to date browser (or turn off compatibility mode in Internet Explorer). In the meantime, to ensure continued support, we are displaying the site without styles and JavaScript.

  • News & Views
  • Published:

Climate policy

Reforming emissions trading

Courageous steps are required to reform the European Union Emissions Trading Scheme. To this end, an independent carbon authority has been proposed — this is a move in the right direction, but should be part of a much broader discussion about reforming emissions trading.

This is a preview of subscription content, access via your institution

Access options

Buy this article

Prices may be subject to local taxes which are calculated during checkout

Figure 1: Price paths of European emissions allowance (EUA) futures contracts traded on the ICE European Climate Exchange.


  1. EU-27 Gross Inland Consumption of Hard Coal 1990–2012 (EC Eurostat, 2014);

  2. de Perthuis, C. & Trotignon, R. Energy Policy (2014).

    Google Scholar 

  3. IPCC Climate Change 2014: Mitigation of Climate Change. Contribution of Working Group III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change (eds Edenhofer, O. et al.) (Cambridge Univ. Press, 2014).

  4. Koch, N. et al. Energy Policy (2014).

    Google Scholar 

  5. Grosjean, G. et al. After Monetary Policy, Climate Policy: Is Delegation Key to EU ETS reform? (MCC, 2014);

Download references

Author information

Authors and Affiliations


Corresponding author

Correspondence to Ottmar Edenhofer.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Edenhofer, O. Reforming emissions trading. Nature Clim Change 4, 663–664 (2014).

Download citation

  • Published:

  • Issue Date:

  • DOI:

This article is cited by


Quick links

Nature Briefing

Sign up for the Nature Briefing newsletter — what matters in science, free to your inbox daily.

Get the most important science stories of the day, free in your inbox. Sign up for Nature Briefing