CLIMATE CHANGE : REPORT: PILOT PHASE SHOWS SUCCESS OF ETS.

Europe Energy, April, 2008

The three-year pilot phase of the EU's Emission Trading Scheme (ETS), running from 2005 to 2007, has served its purpose of introducing and ensuring the working of the system, in spite of a certain number of difficulties. At the time of its kick-off in 2005, the European Commission had announced that this phase would represent "learning by doing". Like the member states, the Commission has learnt the lessons from this experience for implementation of the second phase (2008-2012) of the scheme. An interim report has been published by the Association for the Promotion of Research into the Economy of Carbon (APREC).'The European carbon market in action: lessons from the first trading period'(1) states that while the European Union had misgivings over the principle of such a...

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