European Union's Emissions Trading Scheme

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Climate change is generally viewed as a global issue, but proposed responses typically require action at the national level. With the 1997 Kyoto Protocol now in force and setting emissions objectives for 2008-2012, countries that ratified the protocol are implementing strategies to begin reducing their emissions of greenhouse gases. The European Union's (EU) Emissions Trading Scheme (ETS) is a cornerstone of the EU's efforts to meet its obligation under the Kyoto Protocol. It covers over 10, 000 energy intensive facilities across the 27 EU Member countries, covered entities emit about 45% of the EU's carbon dioxide emissions. This book examines the European Union's Emissions Trading Scheme (ETS) with a focus on climate and aviation considerations.