Review of the EU ETS Literature: A Bibliometric Perspective

Abstract

This study conducts a bibliometric review of scientific literature on the European Union Emissions Trading System (EU ETS) from 2004 to 2024, using research articles from the Scopus database. Using the Bibliometrix R package, we analyze publication trends, key themes, influential authors, and prominent journals related to the EU ETS. Our results indicate a notable increase in research activity over the past two decades, particularly during significant policy changes and economic events affecting carbon markets. Key research focuses include carbon pricing, market volatility, and economic impacts, highlighting a shift toward financial analysis and policy implications. Thematic mapping shows cap-and-trade systems, and carbon leakage as central topics linking various research areas. Additionally, we observe key areas where further research could be beneficial, such as expanding non-parametric methodologies, deepening the exploration of macroeconomic factors, and enhancing the examination of financial market connections. Moreover, we highlight recent and innovative papers that contribute new insights, showcasing emerging trends and cutting-edge approaches within the field. This review provides insights for researchers and policymakers, highlighting the evolving landscape of EU ETS research and its relevance to global climate strategies.