This handbook is a guide for policymakers, as well as practitioners towards implementing an ETS. It consolidates a decade of experience with emissions trading worldwide alongside insights from the academic literature on the topic. Synthesizing input from over 100 practitioners and technical experts from four continents, it lays out a 10-step process with regards to the design, implementation, and operation of an effective ETS. Both the PMR and ICAP use the handbook as part of their ongoing ETS capacity building efforts.