European Union Emissions Trading Scheme: Phase III

The paper would attempt to present a prospective analysis of what are the challenges and prospects of the European Union Emissions Trading Scheme in Phase III (2013-2020) both for lawyers as well as industries. It will start with a brief introductory overview of the theoretical basis and fundamental developments in the EU ETS in general and would then continue with a focus on the future issues as, for example, possible expansion to include new industries and jurisdictions in the EU ETS, common emissions cap set at EU level in Phase III and other developments directly derived from Phase III.