Abstract

Abstract Tradeable certificates systems have recently become quite a diffuse instrument in the energy and environmental agenda of European countries. Basically, they have been developed to foster energy efficiency (white certificates, WhC) to increase the attractiveness of renewable energy sources (green certificates, GC) and to promote the abatement of CO2 emissions (brown certificates, or emission permits). The most extensive tradeable certificates scheme in operation is the European Emission Trading Scheme to reduce carbon dioxide emissions at EU level; it has been developed to serve as a trial in view of the future larger emission trading scheme established by the Kyoto protocol.

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