ABSTRACT
The most valuable player in the carbon game has been the European Union, which has led the world in stats on reducing GHG emissions. However, its exceptional performance is tainted as its reductions had little to do with climate change. In this chapter we will uncover how the EU countries, playing in a league of their own, won the carbon game by subsidizing their industries, thereby enhancing their own competitive position. Among these policy “steroids” are the feed-in-tariff (FIT) and Emissions Trading System (ETS).
