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EUROPEAN UNION EMISSION TRADING SCHEME – A MEANS TO INVOLVE BUSINESS IN ENVIRONMENTAL PROTECTION

AUTHOR/S: I. PANDELIEVA
Sunday 1 August 2010 by Libadmin2010

10th International Multidisciplinary Scientific GeoConference - SGEM2010, www.sgem.org, SGEM2010 Conference Proceedings/ ISBN 10: 954-91818-1-2, June 20-26, 2010, Vol. 2, 969-976 pp

ABSTRACT

The Earth climate has been changing during recent decades towards increase of global
surface average temperatures. The process is known as “global warming”. The causes
for this climate phenomenon have been globally disputed but most of world scientists
participating in the Intergovernmental Panel on Climate Change agreed on the fact that
human industrialization has a major impact on this process by emitting additional
quantities of greenhouse gasses (GHG) called anthropogenic emissions.

The world nations have agreed to combat climate change and to decrease the
anthropogenic causes for the global warming through the establishment of the United
Nations Framework Convention and through signing Kyoto Protocol that created socalled
“flexible mechanisms” enabling the countries to achieve targets at economically
more favourable terms. Pursuant to Article 17 of Kyoto Protocol, the European
Parliament and The Council adopted Directive 2003/87/EC establishing a scheme for
trading of GHG emission savings within EU, or European Trading Emission Scheme
(EU ETS). EU ETS is the most important initiative to achieve EU emission reduction
targets. It is also a way to push industries towards implementing CO2 emission saving
technologies, which have both economic and environmental effect and can help ETS
participant to meet the requirements of EU ETS not by just paying penalties by buying
CO2 credits but by implementing real environmentally friendly measures.

Keywords: climate change, GHG emissions, emission trading