Greenhouse gas emission allowances as a commodity to trade
Abstract
European Union Greenhouse Gas Emission Trading System is one of the mechanisms which aims at supporting the EU member States to achieve their goals of the Kyoto protocol. The GHG emissions allowances are traded between companies participating in the system. In such a way EU ETS creates a market for GHG emission allowances. This article describes shortly the working of the European carbon emission market, its main problems and discusses solutions introduced in the Energy and Climate Change package.
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