![]() ![]() The scheme has been divided into a number of "trading periods". This allows the system to find the most cost-effective ways of reducing emissions without significant government intervention. Conversely, if an installation has performed well at reducing its emissions, it can sell its leftover credits. ![]() If emission exceeds what is permitted by its allowances, an installation must purchase allowances from others. Installations must monitor and report their CO 2 emissions, ensuring they hand in enough allowances to the authorities to cover their emissions. EU Allowances for emissions are then auctioned off or allocated for free, and can subsequently be traded. ![]() Under the "cap and trade" principle, a maximum (cap) is set on the total amount of greenhouse gases that can be emitted by all participating installations. A 2020 study estimated that the EU ETS had reduced CO 2 emissions by more than 1 billion tons between 20 or 3.8% of total EU-wide emissions. The EU had set a target for 2020 to cut greenhouse gas emissions by 20% compared with 1990, to reduce energy consumption by 20% compared to the 2007 baseline scenario, and to achieve a 20% share of gross final energy consumption from renewable energy sources - all of which was achieved. In 2008, the installations regulated by the EU ETS were collectively responsible for close to half of the EU's anthropogenic emissions of CO 2 and 40% of its total greenhouse gas emissions. #Ets 4 times up plusAs 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 27 EU member states plus Iceland, Norway, Liechtenstein and United Kingdom. It was launched in 2005 to fight global warming and is a major pillar of EU energy policy. The European Union Emissions Trading System ( EU ETS), was the first large greenhouse gas emissions trading scheme in the world. Price of CO 2 in the EU Emissions Trading System ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |