The EU ETS scheme started in 2005 in order to help the EU meet its targets under the Kyoto Protocol – 80% reduction in greenhouse gas emissions from 1990 levels.
The scheme is the world’s largest carbon-trading scheme. It provides an incentive for installations to reduce their carbon emissions, because they can then sell their surplus allowances.
Organisations are included in the scheme on the basis of their Carbon Dioxide (CO2) emitting activities.
The EU ETS covers electricity generation and the main energy-intensive industries – power stations, refineries and offshore, iron and steel, cement and lime, paper, food and drink, glass, ceramics, engineering and the manufacture of vehicles.
EU ETS Phase II (2008 – 2012)
The current phase (Phase II) runs from 2008-2012 to coincide with the first Kyoto Commitment Period. It builds on the lessons from the first phase, and has broadened to cover CO2 emissions from mineral wool, gypsum, flaring from offshore oil and gas production, petrochemicals, carbon black and integrated steelworks.
RUMM’s CLM service can help you with this legislation. Contact us for more information.