Defined in Art. 17 of the Kyoto Protocol, the European Emission Trading Scheme (EU-ETS) represents the largest active trading program in the world for greenhouse gases. Formally, it is one of the flexible mechanisms of the Protocol, and was approved in 2003 although entered into force only in 2005. Under the EU-ETS Parties which are net emitters can buy emissions credits from other countries to meet the reduction targets set by the Protocol. The selling countries are those whose level of total emissions is lower than their target. The first phase of the mechanism covered the period 2005 to 2007 while the second goes from 2008 to 2012. The third phase will start after 2012.
EMISSION TRADING SCHEME (EU-ETS)
MICHETTI, MELANIA
2011
Abstract
Defined in Art. 17 of the Kyoto Protocol, the European Emission Trading Scheme (EU-ETS) represents the largest active trading program in the world for greenhouse gases. Formally, it is one of the flexible mechanisms of the Protocol, and was approved in 2003 although entered into force only in 2005. Under the EU-ETS Parties which are net emitters can buy emissions credits from other countries to meet the reduction targets set by the Protocol. The selling countries are those whose level of total emissions is lower than their target. The first phase of the mechanism covered the period 2005 to 2007 while the second goes from 2008 to 2012. The third phase will start after 2012.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
