Research

The School carries out applied research with the purpose of developing economically, legally, and socially-sound regulation and policy, using a multidisciplinary approach.

Should I offset or should I plough? : voluntary carbon offsets and ETS in an evolutionary model

Companies with high emissions can offset their climate impact by participating in emission reduction projects through voluntary carbon markets (VCMs) in several countries. Firms...

Authors

MR SV

Article

The regulatory framework for independent aggregators

Policy Paper

A framework for electricity grid data exchange and reuse for AI foundation models : reflections on five implementation aspects

Executive Education

We offer different types of training: Online, Residential, Blended and Tailor-made courses in all levels of knowledge.

Digital Mobility Ticketing Lab

Digital Mobility Ticketing Lab

13 November 2026

Economic Foundations of EU ETS and International Carbon Markets

08 February 2027

Annual Training on the Regulation of Energy Utilities

06 October 2026

Policy Events

A wide range of events for open discussion and knowledge exchange. In Florence, Brussels, worldwide and online.

FSR – MIT CEEPR Annual Conference on energy and climate policy

FSR – MIT CEEPR Annual Conference on energy and climate policy

07 October 2026 12:30

Autumn Policy Dialogues

07 October 2026 12:30

Electrifying European Energy Demand

09 October 2026 09:00

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Discover more initiatives, broader research, and featured reports.

Energy Regulation Academy

The Energy Regulation Academy (EnRA) is a 3-year capacity-building initiative to help accelerate the energy transition in Europe.

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Opportunities

Opportunities

FSR.secretariat@eui.eu

Policy Brief

State-of-play in international carbon markets 2025

Issue Date: 2025

Date Accessioned: 21 May 2025

emissions trading

Paris Agreement

The international carbon market landscape contin ued to evolve rapidly in 2024, reflecting the grow ing urgency of addressing climate change and addressing it through cost-effective policy instru ments. Compliance markets remain at the forefront of these efforts, serving as a cornerstone of climate change policy frameworks worldwide. This report examines the current state-of-play in international carbon markets, highlighting both the progress and challenges faced by key systems globally. From the expansion of established markets to the develop ment of new initiatives, the report provides an anal ysis of the trends shaping carbon markets.

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Latest publication in the same area

PUBLICATION • Contribution to book

European and global climate policies : pursuing fairness and carbon neutrality in an increasingly fragmented world

The need to fight global warming is urgent, since it brings catastrophic and often unjust impacts, w...

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PUBLICATION • Contribution to book

Domestic acceptability as a condition for ambitious climate policies

Europe aims to become the first carbon-neutral continent by 2050. Today, the European Union Emission...

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PUBLICATION • Technical Report

Managing market tightness in the EU ETS on the path to net-zero : design options and trade-offs in price-based supply adjustments

The EU ETS is approaching a structural transition. As the linear reduction factor tightens the cap t...

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Industrial decarbonization in a fragmented world : carbon pricing with border adjustments using standardized values

The European Carbon Border Adjustment Mechanism (CBAM) has the dual objective of preventing carbon l...

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International carbon credits in the EU : ensuring flexibility without undermining credibility

The EU is currently reviewing its post-2030 climate policy framework, including the potential use of...

Alessia Casamassima

Simone Borghesi

PUBLICATION • Contribution to book

Reflections on climate resilient tourism : evidence for the EU ETS-2 and voluntary carbon markets

The chapter discusses transition risk for tourism, addressing its relation with the Environmental Ku...

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SPS and TBT measures through the lens of bilateral and GVC-related regulatory distance

The regulatory framework of international trade is complex and multifaceted, with many countries ado...

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Nexus approach to enhance water-energy-food security and ecosystems resilience under climate change in the Mediterranean

The Mediterranean Basin, already a water-scarcity hotspot, faces intensifying droughts and warming t...

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Environmental insurance and resilience in the age of natural disasters

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