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ARTICLE · 12 JUNE 2013

Emission Trading: Waiting For A Revival...

Fieldfisher
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Studies show that global warming can only be combated by heavily reducing greenhouse gases.

European UnionEnvironment
Jane De Proost
Jane De Proost
David Haverbeke
David Haverbeke
Wouter Vandorpe
Wouter Vandorpe

Studies show that global warming can only be combated by heavily reducing greenhouse gases. How will the EU Emission Trading Scheme adapt itself after Phases I and II and still impose ambitious targets?

What? The emission trading (ETS) system, the cornerstone of the EU's climate policy, is based on the principle of 'cap-and-trade'. This principle imposes a limit on the volume of greenhouse gases that can be emitted each year by certain power plants and installations. The system attributes emission "allowances" (permits) to ETS companies (see hereunder) for trade on the market. Such allowance gives the holder the right to emit 1 ton of CO2. Each year companies have to submit allowances linked to the amount of CO2 emitted, subject to fines in case of non-compliance.

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