EU Sets Cap On Phase 3 ETS Allowances
Published: 20 July 2010
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4 pages, 1 figure
Executive Summary
The European Emissions Trading Scheme (EU ETS), which was launched on January 1, 2005, is the largest multinational trading scheme in the world. It caps the emissions of more than 11,500 energy-intensive installations, driving the bloc’s 27 nations towards complying with Kyoto Protocol targets. The EU Commission set the cap on emissions for Phase 3 of the scheme, which runs from 2013-2020, although it is not final. The cap will be revised for new entrants to the scheme, and if commitments are made to increase the 2020 emission reduction target from 20% to 30% below 1990 levels across the EU. Firms should prepare for Phase 3 uncertainties, including the distribution of allowances to compliant installations and the design of the auctioning platform.
TABLE OF CONTENTS
EU ETS ALLOWANCES: PHASE 3 CAP ESTABLISHED
EU Set ETS Cap For 2013
Firms Should Prepare For Remaining 2013 ETS Uncertainties
TABLE OF FIGURES
Figure 1. Allocated Allowances Decrease By CAGR Of 1.9% Between 2013 And 2020
COMPANIES MENTIONED
American Airlines, ArcelorMittal, British Airways