The European Union Emissions Trading System - a current snapshot

摘要

The European Union Emissions Trading System (EU ETS), which started in 2005, was the world's first major carbon permit trading market. The EU ETS is now entering its third phase and is becoming increasingly significant to the Australian carbon market as we draw closer to implementing formal links between the EU ETS and the Australian Clean Energy Mechanism established by the Clean Energy Act 2011 (Cth). The purpose of this article is to provide a brief synopsis of the EU ETS, highlighting the significant structural changes to the system that were introduced with Phase 3, and to consider some of the issues still to be resolved by the EU.