EU Emissions Trading: Initiation, Decision-making and Implementation

摘要

This book provides a detailed account of the development of the European Union Emissions Trading Scheme (EUETS), introduced in 2005 to assist in the achievement of European Union (EU) commitments within the Kyoto Protocol. As explained in chapters 1 and 2, the EUETS was the first international trading scheme for the mitigation of carbon emissions, initially focusing on the reduction of carbon dioxide emissions from large emitters at defined sites. Caps on emissions were imposed through the issue of allowances and fines for non-compliance and trading was facilitated between those sites which exceeded their allowances and those which emitted less carbon dioxide than their permitted levels.