TimelineEU emissions trading scheme

23 January 2008 13:43  [Source: ICIS news]

PARIS (ICIS news)--The following is a timeline highlighting key dates in the development of the EU's Emissions Trading Scheme (ETS).

 

23 January 2008 – Review of EU ETS for post-2013 period of trading.

 

2008-2012 - Second trading period of EU ETS. 

 

20 December 2007 – EU environment ministers agree on inclusion of aviation emissions in the scheme.

 

26 October 2007 - EC sets EU-wide CO2 cap at 2.08 billion tonnes for 2008-2012.

 

15 June 2007 - EU ETS working group - including government officials, industry and NGOs - concludes its discussions and suggests, for example, including gases other than CO2, harmonising the scheme across the EU and improving monitoring and reporting.

 

December 2006 - EC adopts legislative proposal to include aviation in the scheme.

 

13 November 2006 - EC presents its first evaluation of the ETS and set an agenda for a future revision of the scheme.

 

May 2006 - EU data shows that many countries, including large polluters such as Germany, were left with 44.1 million tonnes extra CO2 allowances in 2005.

 

The supply surplus sends carbon prices crashing and calls into question the credibility of the scheme.

 

2005-2007 - First trading period of the EU ETS. 

 

1 January 2005 - EU's emissions trading scheme (ETS) becomes operational.

 

25 October 2003 – Directive creating the EU ETS comes into force.

 

By: Philippa Jones
+44 20 8652 3214

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