Country:United Kingdom
Year:2002
Policy status:Ended
Jurisdiction:National
Date Effective:2002
Policy Type:Economic Instruments>Market-based instruments>White certificates, Economic Instruments>Market-based instruments, Economic Instruments>Market-based instruments>GHG emissions trading
Policy Target:Framework/ Multi-sectoral Policy
Agency:Department for Environment Food and Rural Affairs (DEFRA)
URL:http://webarchive.nationalarchives.gov.uk/20090908171815/http:/www.defra.gov.uk/environment/climatechange/trading/uk/index.htm
Evaluation:http://webarchive.nationalarchives.gov.uk/20090908171815/http://www.defra.gov.uk/environment/climatechange/trading/uk/documents.htm#evaluations
Description:

In April 2002, the government established the first economy-wide greenhouse gas emissions trading scheme. To enter the UK Emissions Trading Scheme (UK ETS), the 33 Direct Participants bid annual, cumulative greenhouse gas emissions reductions targets set against a 1998-2000 baseline, in return for a share of the incentive money of GBP 215 million. Direct Participants committed to reduce their emissions by 3.96 million tonnes CO2 equivalent (MtCO2e) (1.08 MtC) by 2006. The voluntary UK ETS was established as a 5-year pilot scheme, and ended in December 2006 when installations temporarily excluded from EU-ETS due to UK ETS participation moved to the EU-ETS. 

This record supersedes:Emissions Trading Proposal

Last modified: Wed, 25 Feb 2015 17:16:59 CET