European Union Emissions Trading System
First large greenhouse gas emissions trading scheme in the world
European Union Emissions Trading System
The European Union Emissions Trading System (EU ETS) is a carbon emission trading scheme (or cap and trade scheme) that began in 2005 and is intended to lower greenhouse gas emissions in the EU. Cap and trade schemes limit emissions of specified pollutants over an area and make polluters pay for their pollution, requiring them to buy allowances to emit enough to cover their emissions, from the EU or from other companies. The money is channeled to environmental and social goals. As of 2026 the ETS covers around 40% of the EU's greenhouse gas emissions. The cap decline gradually and should reach zero by 2039. After this year no more allowances will be distributed and when the unused allowances will end, no more emissions will be permitted. As from 2027 road transport, buildings and industrial installation that fell out of EU ETS will be covered by a new EU ETS2. The "old" ETS and the new EU ETS2 allowances will be traded independently. A major difference to the ETS is that ETS2 will cover...
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