|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)|
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