What is the EU Emissions Trading Scheme (EU ETS) and does if effect my organisation?
The EU ETS is a Europe wide scheme, which aims to reduce emissions of carbon dioxide and combat the serious threat of climate change. EU ETS puts a price on carbon that businesses use and creates a market for carbon. It has been in place since 2005 and is the first scheme of its kind in the world. Now in its second phase of operation, the UK Government’s aim of an 8 MtCarbon saving (29 MtCO2) each year from 2008 until 2012 has now been approved by the EU Commission. With this target in mind emissions allocations are distributed to installations within the scheme, these include heavy industries such as electricity generation, refineries, iron and steel making, mineral processing and paper and pulp manufacture however an combustion process (i.e. a boiler installation) with a rated thermal input exceeding 20 MW is also covered by the EU ETS. Installations covered by the scheme are required to monitor and report their emissions. At the end of each year they must surrender allowances to cov
