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The European Union Emissions Trading System (EU ETS) is a carbon emission trading scheme (or cap and trade scheme) that began in 2005 and is intended to lower greenhouse gas emissions in the EU. Cap and trade schemes limit emissions of specified pollutants over an area and allow companies to trade emissions rights within that area.
The European Union Emissions Trading System (EU ETS) is a carbon emission trading scheme (or cap and trade scheme) that began in 2005 and is intended to lower greenhouse gas emissions in the EU. Cap and trade schemes limit emissions of specified pollutants over an area and allow companies to trade emissions rights within that area.
An early example of an emission trading system has been the sulfur dioxide (SO 2) trading system under the framework of the Acid Rain Program of the 1990 Clean Air Act in the U.S. Under the program, which is essentially a cap-and-trade emissions trading system, SO 2 emissions were reduced by 50% from 1980 levels by 2007. [58]
The European Union emissions trading system is the biggest carbon market in the world and the 27-country bloc's flagship policy for cutting greenhouse gas emissions. Today, the ETS forces 11,000 ...
Introduced in 2005, the EU ETS is the first and largest greenhouse gas emissions trading scheme worldwide. It covers approximately 10,000 installations including power generation, various industries, and intra-European aviation, which collectively account for about 40% of the EU's greenhouse gas emissions.
The European Union Emissions Trading System for greenhouse gases (EU ETS) is perhaps the most significant contribution of the ECCP, and the EU ETS is the largest greenhouse gas emissions trading scheme in the world. In 1996 the EU adopted a target of a maximum 2 °C rise in global mean temperature, compared to pre-industrial levels.
Computerised registries are key components of the EU Emissions Trading System (EU ETS) and wider international emissions trading under the United Nations Framework Convention on Climate Change's (UNFCCC's) Kyoto Protocol. Under Directive 2003/87/EC, EU Member States were required to put in place a standardised, electronic national registry from ...
[50] [51] The EU Modernisation Fund, formed in 2018 as part of the new EU Emissions Trading System (ETS) Directive and with direct engagement from the EIB12, targets such investments as well as energy efficiency and a fair transition across 10 Member States.