Research

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

Reforming retail electricity rates to facilitate economy-wide decarbonization

Deep decarbonization of the economy depends heavily on the decarbonization of the electricity sector and the electrification of several key end-use sectors. Decarbonization of...

Authors

DM PLJ RS

Article

Kickstarting carbon capture and storage adoption : tailoring subsidies to emitters’ needs

Article

The enlightening blackout in Spain

Executive Education

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

Economic Foundations of EU ETS and International Carbon Markets

Economic Foundations of EU ETS and International Carbon Markets

08 February 2027

Annual Training on the Regulation of Energy Utilities

06 October 2026

Specialised Training on the Regulation of Gas Markets

02 November 2026

Policy Events

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

From the Space Economy to Space Economics

From the Space Economy to Space Economics

01 September 2026 10:00

Biogases and Biomethane in the EU

16 September 2026 09:00

Implementing Single Ticketing

25 September 2026 09:00

More

Discover more initiatives, broader research, and featured reports.

Lights on Women

The Lights on Women initiative promotes, trains and advocates for women in energy, climate and sustainability, boosting their visibility, representation and careers.

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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 • 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...

Simone Borghesi

PUBLICATION • Article

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...

Simone Borghesi

KN MS FB CB

PUBLICATION • Policy Paper

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...

Simone Borghesi

GG

PUBLICATION • Article

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...

Fabio Gaetano Santeramo

MG

PUBLICATION • Article

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...

Fabio Gaetano Santeramo

PD MGRF MAM AAH MB

PUBLICATION • Article

Environmental insurance and resilience in the age of natural disasters

The emergence of natural disasters induces a trade-off in the environmental insurance market. While ...

Simone Borghesi

IC GI AT

PUBLICATION • Technical Report

Integration and linkage in carbon markets : a synthesis of recent ex-ante and ex-post findings

This report reviews evidence collected during the third year of the LIFE COASE project co-funded by ...

Simone Borghesi

SO

PUBLICATION • Policy Brief

Accelerating industrial transition : policy priorities for the 2026 EU ETS review

The European Union (EU) is approaching a crucial moment in its climate and industrial strategy. As w...

Simone Borghesi

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