The EU Emissions Trading Scheme (EU ETS) is currently the largest trading scheme for greenhouse gas emissions and dominates the world carbon market. The EU ETS covers roughly 50 % of the German CO2 emissions (2010: 453.9 MtCO2, 1,628 installations), and hence is the most important climate policy instrument in Europe as well as in Germany. Since 2009, all German companies regulated by the EU ETS are surveyed annually in the KfW/ZEW CO2 Barometer with regard to their activities and strategies. The year 2010 was characterised by a rapid recovery from the economic crisis of the years 2008 and 2009 and an overall rise in CO2 emissions. The planned changes to the trading scheme from 2013 are casting their shadows. Thus the current KfW/ZEW CO2 Barometer focuses on the status of the preparation by the companies for the third trading period. In addition, both the impacts of transaction costs on emissions trading and incentives for CO2 abatement in companies are examined more closely.