The Allocation of Regulatory Competence in the EU Emissions Trading Scheme

The EU's Emissions Trading System (EU ETS) is the world's largest carbon trading market. This book offers a new perspective on the EU ETS as a multi-level governance regime in which the regulatory process is composed of three distinct competences: norm setting, implementation and enforcement. The combined legal, economic, and political analysis in this book reveals that the actual allocation of competences within the EU ETS diverges from a hypothetical ideal allocation in important ways and provides a political economy explanation for the existing allocation of norm setting, implementation and enforcement competences among various levels of European government.