What are examples of existing or emerging GHG emissions trading schemes?
There are a number of emissions trading schemes – both government managed and private. In the United Kingdom, the government has rolled out its UK Emissions Trading Scheme for companies resident in the UK. The European Union Emission Trading Scheme will begin on January 1, 2005, establishing the world’s largest market in emissions allowances. The scheme will initially regulate the CO2 emissions from installations across the EU. This will include power generation companies, oil refineries, offshore installations, other heavy industrial sectors and some smaller non-industrial installations with on-site combustion capacity in the initial implementation phase between 2005-2007. In the U.S., the Chicago Climate Exchange is a private forum for emissions trading that requires companies to meet specific emissions targets.
