Country:European Union
Year:2008
Policy status:Superseded
Date Effective:2008
Policy Type:Economic Instruments>Market-based instruments>GHG emissions trading
Policy Target:
Agency:European Commission, Directorate-General Climate Action
URL:https://ec.europa.eu/clima/policies/ets/pre2013_en
Legal References:Directive 2004/101/EC (amendment)
Description:

The second phase of the EU Emissions Trading Scheme (EU ETS) is to commence in 2008. Under the terms of the Emissions Trading Directive, each Member State was required to prepare and publish a National Allocation Plan (NAP) for emissions for the 2008-2012 trading period by 30 June 2006. This phase of the EU ETS has been established to coincide with Member States obligations under the Kyoto Protocols First Commitment Period. No banking or borrowing of allowances has been permitted between the 2005-07 EU ETS and the current second phase. All Member States have submitted their NAPs which have been reviewed by the Commission.

The plans were evaluated on the basis of twelve criteria laid down in the Directive, and were modified as required by the Commission according to the criteria. All second period National Allocation Plans are now approved and the second period EU cap will be about 13% lower than the first period cap and 6% lower than comparable 2005 emissions. The EU ETS is seen as one of the main policies targeting energy efficiency in industry. The EU ETS covers CO2 emissions from energy-intensive sectors, i.e. heavy industry and the power sector. The incentive for energy efficiency in ETS sectors will increase as future allocations of emission credits reduce.

This record is superseded by:EU Emissions Trading System Phase 3 (2013-2020)

Last modified: Fri, 05 May 2017 17:25:05 CEST