- emissions trading scheme
a scheme involving emissions trading. Abbrev.: ETS See cap-and-trade, baseline-and-credit.
Also, emissions trading system.
An emissions trading scheme is distinguished by the following components: a designated statutory authority is charged with issuing permits to emit a set volume of carbon dioxide; those industries that emit carbon dioxide are obligated to hold a sufficient number of permits to allow them to do so; permits may be traded in a marketplace established for that purpose, with the market setting the price; and the number of permits available in a given year is fixed, with the number available decreasing over time. Depending on the legislation enacted, the nature of an ETS may vary between jurisdictions. Variations include: the scope of the scheme, with certain industries being granted exemptions from participating; the issuing of permits, whereby some participants may be granted permits directly by the statutory authority, as opposed to those sold into the marketplace; the rate at which the annual permit cap is decreased; and the extent to which carbon credit holders may also be allowed to participate in the marketplace. Having fixed the volume of carbon dioxide emissions, it is of no consequence which parts of the economy generate the emission. This allows a government to set an overall cap whilst allowing the marketplace to best allocate the pollution concessions. As the number of permits issued is decreased overtime, demand for the constrained supply will increase the permit price, favouring low-emission energy sources and industrial processes. Those industries that by their nature are unable to adapt, such as the concrete industry, will be most severely impacted. In 2013, Australia became the first country in the world preparing to repeal legislation supporting emissions trading.
Australian English dictionary. 2014.
Look at other dictionaries:
New Zealand Emissions Trading Scheme — See also: Climate change in New Zealand The New Zealand Emissions Trading Scheme (NZ ETS) is a national all sectors all greenhouse gases all free allocation uncapped emissions trading scheme. The NZ ETS was first legislated in September 2008 by… … Wikipedia
UK Emissions Trading Scheme — The UK Emissions Trading Scheme was a voluntary emissions trading system created as a pilot prior to the mandatory European Union Emissions Trading Scheme. It ran from 2002 and closed in 2006. At the time, the scheme was a novel economic approach … Wikipedia
Emissions trading — (or emission trading) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. It is sometimes called cap and trade.A central authority (usually a government … Wikipedia
emissions trading — ➔ trading * * * emissions trading UK US (also emission trading) noun [U] ENVIRONMENT ► the activity of buying and selling emission units and emission credits: »The EU is demanding that emissions trading and other such mechanisms account for no… … Financial and business terms
European Union Emission Trading Scheme — The European Union Emissions Trading Scheme (EU ETS) also known as the European Union Emissions Trading System, was the first large emissions trading scheme in the world. It was launched in 2005 to combat climate change and is a major pillar… … Wikipedia
Climate Change Response (Emissions Trading) Amendment Act 2008 — The Climate Change Response (Emissions Trading) Amendment Act 2008 was a statute enacted in September 2008 by the Fifth Labour Government of New Zealand that established the first version of the New Zealand Emissions Trading Scheme, a national… … Wikipedia
Prime Ministerial Task Group on Emissions Trading — On December 10 2006, the Australian Prime Minister John Howard announced the establishment of the Prime Ministerial Task Group on Emissions Trading. The task group has been tasked with developing an Australian Carbon Trading Scheme and was given… … Wikipedia
Landfill Allowance Trading Scheme — The Landfill Allowance Trading Scheme, LATS, is an initiative by the UK government, through DEFRA to help reduce the amount of biodegradable municipal waste (BMW) sent to landfill. [ [http://www.defra.gov.uk/Environment/waste/localauth/lats/intro … Wikipedia
Chinese national carbon trading scheme — The Chinese national carbon trading scheme was announced in November 2008 by the national government to enforce a compulsory carbon trading scheme across the country s provinces as part of its strategy to create a low carbon civilisation . The … Wikipedia
Emissions-Recht — Der Emissionsrechtehandel oder auch Handel mit Emissionszertifikaten ist ein Instrument der Umweltpolitik mit dem Ziel, Schadstoffemissionen mit möglichst geringen volkswirtschaftlichen Kosten zu verringern. In der Europäischen Union wurde der EU … Deutsch Wikipedia