Thesiss

Since the EU-ETS was placed at the centre of EU climate governance in 2003,its influence has not been restricted to environmental policy but has spread to theeconomic and political domains. But its implementation remains blocked even after the EU revised it by the Climate and En…

This thesis examines the informational efficiency of the European carbon market based on the European Union Emissions Trading Scheme (EU ETS). The issue is approached from three different perspectives. I explore whether the volatility embedded in carbon options is a rational for…