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• European_Union_Emission_Trading_Scheme abstract "The European Union Emissions Trading System (EU ETS), also known as the European Union Emissions Trading Scheme, was the first large emissions trading scheme in the world, and remains the biggest. It was launched in 2005 to combat climate change and is a major pillar of EU climate policy. As of 2013, the EU ETS covers more than 11,000 factories, power stations, and other installations with a net heat excess of 20 MW in 31 countries—all 28 EU member states plus Iceland, Norway, and Liechtenstein. The installations regulated by the EU ETS are collectively responsible for close to half of the EU's emissions of CO2 and 40% of its total greenhouse gas emissions.Under the 'cap and trade' principle, a cap is set on the total amount of greenhouse gases that can be emitted by all participating installations. 'Allowances' for emissions are then auctioned off or allocated for free, and can subsequently be traded. Installations must monitor and report their CO2 emissions, ensuring they hand in enough allowances to the authorities to cover their emissions. If emission exceeds what is permitted by its allowances, an installation must purchase allowances from others. Conversely, if an installation has performed well at reducing its emissions, it can sell its leftover credits. This allows the system to find the most cost-effective ways of reducing emissions without significant government intervention.The scheme has been divided into a number of "trading periods". The first ETS trading period lasted three years, from January 2005 to December 2007. The second trading period ran from January 2008 until December 2012, coinciding with the first commitment period of the Kyoto Protocol. The third trading period began in January 2013 and will span until December 2020. Compared to 2005, when the EU ETS was first implemented, the proposed caps for 2020 represents a 21% reduction of greenhouse gases.The EU ETS has seen a number of significant changes, with the first trading period described as a 'learning by doing' phase. Phase III sees a turn to auctioning a majority of permits rather than allocating freely; harmonisation of rules for the remaining allocations; and the inclusion of other greenhouse gases, such as nitrous oxide and perfluorocarbons. In 2012, the EU ETS was also extended to the airline industry, though this has been paused for one year given the possibility of a global system for these emissions. The price of EU ETS carbon credits has been lower than intended, with a large surplus of allowances, in part because of the impact of the recent economic crisis on demand. In 2012, the Commission said it would delay the auctioning of some allowances. It is also considering more significant long-term reforms to reduce oversupply.Other countries and regions are now developing similar systems. Australia's trading scheme will be linked with the EU ETS from 2015, and the EU "hopes to link up the ETS with compatible systems around the world to form the backbone of a global carbon market."".
• European_Union_Emission_Trading_Scheme wikiPageExternalLink index_en.htm.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink 2nd_phase_ep.htm.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink LexUriServ.do?uri=OJ:L:2003:275:0032:0032:EN:PDF.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink l_ue_projette_de_reduire_de_40_ses_emissions_d_ici_2030-a146277.html.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink papers.cfm?abstract_id=1088716.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink papers.cfm?abstract_id=1088726.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink en.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink en.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink eu-emissions-trading-system-ets.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink EU-ETS%20White%20Paper.pdf.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink www.carbontradewatch.org.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink 20050515%20CO2%20emissions%20joint%20PR%20_final.pdf.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink NAPsReport_Summary0306.pdf.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink eu.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink LDM_BRI(2012)120323_REV1_EN.pdf.
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• European_Union_Emission_Trading_Scheme wikiPageExternalLink inagendo_ets_fact_book.pdf.
• European_Union_Emission_Trading_Scheme wikiPageExternalLink NAP2_assessment.pdf.
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• European_Union_Emission_Trading_Scheme hasPhotoCollection European_Union_Emission_Trading_Scheme.
• European_Union_Emission_Trading_Scheme subject Category:Carbon_emissions_in_the_European_Union.
• European_Union_Emission_Trading_Scheme subject Category:Carbon_finance.
• European_Union_Emission_Trading_Scheme subject Category:Climate_change_in_the_European_Union.
• European_Union_Emission_Trading_Scheme subject Category:Climate_change_policy.
• European_Union_Emission_Trading_Scheme subject Category:Emissions_trading.
• European_Union_Emission_Trading_Scheme subject Category:Energy_policies_and_initiatives_of_the_European_Union.
• European_Union_Emission_Trading_Scheme type Abstraction100002137.
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• European_Union_Emission_Trading_Scheme type CarbonEmissionsInTheEuropeanUnion.
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• European_Union_Emission_Trading_Scheme type Egress100044455.
• European_Union_Emission_Trading_Scheme type Emission101253060.
• European_Union_Emission_Trading_Scheme type EnergyPoliciesAndInitiativesOfTheEuropeanUnion.
• European_Union_Emission_Trading_Scheme type Event100029378.
• European_Union_Emission_Trading_Scheme type Idea105833840.
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• European_Union_Emission_Trading_Scheme comment "The European Union Emissions Trading System (EU ETS), also known as the European Union Emissions Trading Scheme, was the first large emissions trading scheme in the world, and remains the biggest. It was launched in 2005 to combat climate change and is a major pillar of EU climate policy.".
• European_Union_Emission_Trading_Scheme label "EU-Emissionshandel".
• European_Union_Emission_Trading_Scheme label "European Union Emission Trading Scheme".
• European_Union_Emission_Trading_Scheme label "Europejski System Handlu Emisjami".
• European_Union_Emission_Trading_Scheme label "Regime Comunitário de Licenças de Emissão da União Europeia".
• European_Union_Emission_Trading_Scheme label "Régimen de Comercio de Derechos de Emisión de la Unión Europea".
• European_Union_Emission_Trading_Scheme label "Système communautaire d'échange de quotas d'émission".
• European_Union_Emission_Trading_Scheme label "欧州連合域内排出量取引制度".
• European_Union_Emission_Trading_Scheme label "欧盟排放交易体系".
• European_Union_Emission_Trading_Scheme sameAs EU-Emissionshandel.
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• European_Union_Emission_Trading_Scheme sameAs 欧州連合域内排出量取引制度.
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• European_Union_Emission_Trading_Scheme sameAs Regime_Comunitário_de_Licenças_de_Emissão_da_União_Europeia.
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• European_Union_Emission_Trading_Scheme homepage LexUriServ.do?uri=OJ:L:2003:275:0032:0032:EN:PDF.
• European_Union_Emission_Trading_Scheme isPrimaryTopicOf European_Union_Emission_Trading_Scheme.