European Union Emissions Trading System

This article is part of the Climate project of Spinwatch.

The EU Emissions Trading System (EU ETS) is the world's largest emissions trading scheme. It's first phase was launched in 2005, under the carbon trading rules of the Kyoto protocol, and the second phase began in 2008 (and will last until 2012).

Critiques

Over allocating

Especially in the first phase of the EU ETS the scheme was criticised as ineffective as the allowed allocations to emit were above the actual level of 2005 emissions, and in some countries encouraged emissions increases of up to 5%. Overall by 2008 the first phase has resulted in a 1.9% emissions increase, according to the EU itself.

Free credits for biggest polluters

Larry Lohman claims:

Under the EU Emissions Trading System, the UK government alone hands out free, transferable global carbon dump assets worth around €4 billion yearly (at June 2006 prices) to approximately a thousand installations responsible for around 46 per cent of the country’s emissions

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