The European Union's (EU) Emissions Trading Scheme (ETS) is a
cornerstone of the EU's efforts to meet its obligation under the
Kyoto Protocol. It covers more than 11,500 energy intensive
facilities across the 27 EU Member countries; covered entities emit
about 45% of the EU's carbon dioxide emissions. A "Phase 1" trading
period began January 1, 2005. A second, Phase 2, trading period
will begin in 2008, covering the period of the Kyoto Protocol, with
a third one planned for 2013.
General
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