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The EU Emissions Trading System (EU ETS)

The EU Emissions Trading System (EU ETS)
The EU ETS: operates in 31 countries (all 28 EU countries plus Iceland, Liechtenstein and Norway) limits emissions from more than 11,000 heavy energy-using installations (power stations & industrial plants) and airlines operating between these countries covers around 45% of the EU's greenhouse gas emissions. For a detailed overview, see: EU ETS factsheet (466 kB) EU ETS Handbook (3.19 Mb) A 'cap and trade' system The EU ETS works on the 'cap and trade' principle. A cap is set on the total amount of certain greenhouse gases that can be emitted by installations covered by the system. Within the cap, companies receive or buy emission allowances which they can trade with one another as needed. After each year a company must surrender enough allowances to cover all its emissions, otherwise heavy fines are imposed. Trading brings flexibility that ensures emissions are cut where it costs least to do so. Key features of phase 3 (2013-2020) The main changes are: Sectors and gases covered

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