EU-EU ETS was the first large greenhouse gas emissions trading scheme in the world.
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11 Facts About EU ETS
2.
EU ETS has seen a number of significant changes, with the first trading period described as a "learning by doing" phase.
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3.
In 2012, the EU ETS was extended to the airline industry, though this only applies within the EEA.
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4.
EU ETS operates in 30 countries: the 27 EU member states plus Iceland, Liechtenstein and Norway.
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5.
EU ETS is linked to the Swiss Emissions Trading System since 1 January 2020.
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6.
In March 2012, according to the periodical Economist, the EUA permit price under the EU ETS had "tanked" and was too low to provide incentives for firms to reduce emissions.
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7.
Seinen commented that the EU ETS needed to be supported by other policies for technology and renewable energy.
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8.
EU ETS has been criticized for several failings, including: over-allocation, windfall profits, price volatility, and in general for failing to meet its goals.
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9.
Proponents argue that Phase I of the EU ETS was a "learning phase" designed primarily to establish baselines and create the infrastructure for a carbon market, not to achieve significant reductions.
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10.
Newbery commented that Phase I of the EU ETS was not delivering the stable carbon price necessary for long-term, low-carbon investment decisions.
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11.
EU ETS is "linked" to the Joint Implementation and Clean Development Mechanism projects as it allows the limited use of "offset credits" from them.
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