Carbon Trading Comes Of Age In Europe,Coming To US

摘要

A year after its launch,Europe's Emissions Trading System(ETS)can look back on a strong start and forward to another bumper year in 2006(WGI Mar.16,p4).The mandatory cap-and-trade scheme,which covers 11,500 power generation and large industrial installations across Europe,constitutes a cornerstone of the 25-member European Union's Kyoto Protocol commitment to cut greenhouse gas emissions by 8% on average by 2012 from a 1990 baseline.The EU hopes its trading scheme will also form the basis for a Kyoto-based global emissions market.