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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

http://ec.europa.eu/clima/policies/ets/index_en.htm

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European Commission - Competition 'Big Data and Competition' speech by commissioner @vestager EDPS-BEUC Conference on Big Data europa.eu/!FQ46mF13h EU carbon market price expected to rise before 2020 following MEPs' vote The chances of a modest increase in carbon prices before 2020 rose on Thursday after votes by MEPs on one of the European Parliament’s most conservative committees. MEPs on the industry committee voted first against market reforms to EU carbon trading, and then against the package they had just agreed. The chaotic manoeuvring leaves open the possibility of more ambitious reforms early this year, which could lead to higher carbon prices. The European Commission views the Emissions Trading System (ETS) as a key driver for lowering industry emissions and, after 2020, it will be the only collective mechanism for doing so. But at around €7 a tonne, carbon prices are far too low to influence industry behaviour and drive significant emissions cuts. Small climate-sceptic parties, particularly Ukip, used their swing votes today to defeat a progressive proposal that would have set 2017 as the start date for boosting sagging carbon prices by withholding hundreds of millions of carbon allowances.

James Hansen’s controversial sea level rise paper has now been published online The village of Ilulissat is seen near icebergs that broke off from the Jakobshavn Glacier on July 24, 2013 in Ilulissat, Greenland. (Joe Raedle/Getty Images) This story has been updated. It has been widely discussed — but not yet peer reviewed. Now, though, you can at least read it for yourself and see what you think. EU carbon price crashes to record low The European Union's flagship climate policy, its emissions trading scheme (ETS), saw the price of carbon crash to a record low on Thursday after a vote in Brussels against a proposal to support the struggling market. The price of a permit to emit a tonne of carbon dioxide fell 40% at one point to €2.81 today, far below its record high of €32, before recovering to more than €4 later in the day. The ETS, aimed at reducing emissions from Europe's entire energy and industrial sectors, has been plagued by an oversupply of permits due in part to over-generous initial allocations following lobbying by industry. "This should be the final wake-up call both to governments and to the European parliament," said Connie Hedegaard, EU climate commissioner. "To those in industry who both say that they want a strong EU ETS while they at the same time lobby against the policies that can secure exactly that I say: it is time to think twice.''

Climate change and the city: Building capacity for urban adaptation Open Access Highlights Cities and urban areas are facing a strong adaptation imperative. Spatial planning can support proactive cross-cutting urban adaptation. China’s ‘Inconvenient Truth’ Documentary about the Airpocalypse The world’s greatest female fighter, who recently annihilated her opponent in a record 14 seconds, opens up her mother’s lessons, Laila Ali, Eminem, and her Hollywood takeover. Fourteen seconds. For us mere mortals, it’s the time it takes to, say, wash our hands or lace up our sneakers.

AR4 SYR Synthesis Report Summary for Policymakers - 4 Adaptation and mitigation options A wide array of adaptation options is available, but more extensive adaptation than is currently occurring is required to reduce vulnerability to climate change. There are barriers, limits and costs, which are not fully understood. {4.2} Societies have a long record of managing the impacts of weather- and climate-related events. Nevertheless, additional adaptation measures will be required to reduce the adverse impacts of projected climate change and variability, regardless of the scale of mitigation undertaken over the next two to three decades. Moreover, vulnerability to climate change can be exacerbated by other stresses. These arise from, for example, current climate hazards, poverty and unequal access to resources, food insecurity, trends in economic globalisation, conflict and incidence of diseases such as HIV/AIDS. {4.2}

Naomi Klein, Climate and Capitalism (Pt. 1)  Naomi Klein's New Climate Book Explains Why the World Is Failing to Protect the Climate In the aftermath of the fractious recently concluded global climate talks in Lima, Peru, Naomi Klein's remarkable book This Changes Everything: Capitalism vs. the Climate (Simon & Schuster, 2014) takes on new relevance for everyone yearning for solutions to the climate crisis. The book is a deeply insightful and unflinching look at the global threats posed by climate change, environmental devastation, and economic injustice. We must confront them, Klein says, by first ripping away the ideological underpinnings of the political and economic systems that created and perpetuate these parallel crises.

Explicit cookie consent ONCE an environmental sluggard, China now pursues green policies with gusto. Last September it announced plans to launch a national carbon-trading scheme in 2017 aimed at reducing emissions of greenhouse gases. It also played an important role in December in securing a global deal in Paris on combating climate change. On March 5th China announced that its new five-year economic plan would include a target to cap annual energy consumption at a tough-sounding 5 billion tonnes of coal equivalent by 2020, up from 4.3 billion now. It is beginning to make greenness sound all too easy.

Paris climate deal: countries with about half of global emissions to join this year The White House has said countries accounting for about half of the world’s greenhouse gas emissions would join the Paris climate agreement this year, bringing the agreement “within striking distance” of entering into force. At least 34 countries representing 49% of greenhouse gas emissions formally joined the agreement, or committed to joining the agreement as early as possible this year at a high-profile signing ceremony at the United Nations last Friday. That brought the historic agreement closer to the critical threshold for becoming operational faster than expected, officials said.

Paris agreement is a strong signal that 'we will solve climate crisis', Al Gore says Al Gore, former US vice-president, Nobel laureate and chairman of the Climate Reality Project, has led the global discussion about climate change for many years. His multi-award-winning film An Inconvenient Truth (2006) has been widely credited with changing the way world leaders and citizens think about the issue. Don Henry is public policy fellow in environmentalism at the University of Melbourne and is a former director of the Australian Conservation Foundation.

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