Scholarly record
EUROPEAN UNION EMISSION TRADING SCHEME – A MEANS TO INVOLVE BUSINESS IN ENVIRONMENTAL PROTECTION
Abstract
The Earth climate has been changing during recent decades towards increase of global surface average temperatures. The process is known as “global warming”. The causes for this climate phenomenon have been globally disputed but most of world scientists participating in the Intergovernmental Panel on Climate Change agreed on the fact that human industrialization has a major impact on this process by emitting additional quantities of greenhouse gasses (GHG) called anthropogenic emissions. The world nations have agreed to combat climate change and to decrease the anthropogenic causes for the global warming through the establishment of the United Nations Framework Convention and through signing Kyoto Protocol that created socalled “flexible mechanisms” enabling the countries to achieve targets at economically more favourable terms. Pursuant to Article 17 of Kyoto Protocol, the European Parliament and The Council adopted Directive 2003/87/EC establishing a scheme for trading of GHG emission savings within EU, or European Trading Emission Scheme (EU ETS). EU ETS is the most important initiative to achieve EU emission reduction targets. It is also a way to push industries towards implementing CO2 emission saving technologies, which have both economic and environmental effect and can help ETS participant to meet the requirements of EU ETS not by just paying penalties by buying CO2 credits but by implementing real environmentally friendly measures.
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References2
Climate Change 2007 Synthesis Report of the Intergovernmental Panel on Climate Change, p 30
Climate Change 2007 Synthesis Report of the Intergovernmental Panel on Climate Change, p36-39 The present material is prepared in the framework of EU SETatWork Project © SETatWork Project Partners, 2009 SETatWork is supported by the European Commission under the Seventh Framework Programme (FP7). This presentation reflects the author’s views. Although the author’s best efforts have been made to ensure that the information contained herein is accurate,neither the European Commission, the SETatWork Project Members nor the author are liable for any use that may be made of the information contained herein.
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