![]() ![]() nitrous oxide (N 2O) from production of nitric, adipic and glyoxylic acids and glyoxal.aviation within the European Economic Area and departing flights to Switzerland and the United Kingdom.energy-intensive industry sectors, including oil refineries, steel works, and production of iron, aluminium, metals, cement, lime, glass, ceramics, pulp, paper, cardboard, acids and bulk organic chemicals,.The EU ETS covers the following sectors and gases, focusing on emissions that can be measured, reported and verified with a high level of accuracy: Allowances are also auctioned to supply the funds supporting innovation in low-carbon technologies and the energy transition: the Innovation Fund and the Modernisation Fund. Revenues from the sale of allowances in the EU ETS mostly feed into Member States’ budgets. If an installation reduces its emissions, it can keep the spare allowances to cover its future needs or else sell them to another operator that is short of allowances. ![]() The price signal incentivises emission reductions and promotes investment in innovative, low-carbon technologies, whilst trading brings flexibility that ensures emissions are cut where it costs least to do so.Īfter each year, an operator must surrender enough allowances to cover fully its emissions, otherwise heavy fines are imposed. The limit on the total number of allowances available ensures that they have a value. Within the cap, operators buy or receive emissions allowances, which they can trade with one another as needed. The cap is reduced over time so that total emissions fall. A cap is set on the total amount of certain greenhouse gases that can be emitted by the operators covered by the system. The EU ETS works on the 'cap and trade' principle. ![]()
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