The cornerstone of EU climate policy: does it impact innovation? Long-term evidence from the Swedish Pulp and Paper Industry
The EU Emissions Trading System (ETS) is a cornerstone of the union’s strategy to mitigate climate change and innovation is integral to emissions reduction, as well as an aim of the policy. To study if the EU ETS is associated with increased innovation, the Swedish Pulp and Paper Industry (PPI) poses an interesting case. Not only is Sweden itself a leading innovator, but its PPI have rapidly reduc