EU ETS

Another key document from the EU includes the Greenhouse Gas Emission Trading Scheme (EU ETS), which was launched in January 2005 as the largest multi-country, multi-sector greenhouse gas emission trading scheme world-wide (based on Directive 2003/87/EC). The scheme is the first international trading system for CO2 emissions in the world. It covers over 11.500 energy-intensive installations across the EU, which represent close to half of Europe's emissions of CO2. These installations include combustion plants, oil refineries, iron and steel plants, and factories making cement, glass, lime, brick, ceramics, pulp and paper. The aim of the EU ETS is to help EU Member States achieve compliance with their commitments under the Kyoto Protocol.