Background In the context of the Roadmap 2050 and the 2030 Climate and Energy Policy Framework, the European Commission recently published a proposal for a revision of the EU ETS Directive that will apply as of 2021. The proposal identifies the following improvements to the directive: The implementation of robust, comprehensive, detailed and up-to-date ex-post economic assessments of the functioning of the EU ETS, including its impact and interactions with other climate and energy policies; The implementation of a high-level, international and diverse network of experts able to interact with policymakers to provide feedback on the design and implementation of the EU ETS; Information to policymakers in an accessible and usable form; and Ad hoc training that contributes to capacity building through the creation of a sound knowledge base for policymakers on the economic issues associated with the design and implementation of the EU ETS. Objectives The overall aim of the LIFE SIDE project is to support EU and Member State policymakers who will be contributing to the design and implementation of the new EU ETS legislation by providing them with the very best information on the economic functioning of the scheme to facilitate effective communication with other stakeholders. Specific aims of the project are as follows: Producing and delivering knowledge and information on the economic functioning of the trading scheme, focusing on the four areas where legislative action is foreseen: free allocation of emission allowances, impact on innovation and investment, interaction with energy policies, macroeconomic effects; Creating a forum for a constructive policy dialogue, in the four areas described above among the different policymakers and stakeholders involved; and Bringing together EU ETS experts and creating a network that, together with the resources resulting from this project, will represent a knowledge hub and a point of reference for policymakers involved in the design and implementation of the trading scheme. Expected results: The project expects to achieve the following results: An economic assessment of the first 10 years of the EU ETS, which will become the point of reference for understanding the functioning of this instrument; A deeper understanding among policymakers of the economic issues associated with the implementation of the trading scheme. This will be measured by means of a survey of 200 people working on climate policy; Enhanced coordination among policymakers and other stakeholders in the design and implementation of new EU ETS legislation; and Creation of an expert group of around 20 people as well as online resources (including the economic assessment of the trading scheme) to act as a well-structured support system for policymakers on the EU ETS. The overall result will be to help EU and Member State policymakers design and implement a more cost-effective EU ETS legislation, based on sound economic knowledge and informed engagement with other stakeholders.