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EU ETS - European Union Emission Trading Scheme

Based on the European Union's commitment under the Kyoto Protocol to reduce greenhouse gas emissions, the EU has developed a comprehensive scheme for trading of CO2 emissions among large emitting companies within the EU. The EU greenhouse gas emissions trading scheme (EU ETS) which involves all EU Member States, started on 1st of January 2005, from which has approximately 12,000 installations across the Member States of the European Union were required to surrender allowances equal to their annual emissions. The EU ETS is a cap-and-trade system based on the idea that creating a price for carbon through a market-based system provides the most cost-effective way for EU member states to meet their Kyoto obligations.

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