Sistema de comércio de emissões traduction francais

Sistema de comércio de emissões tradução francais
As Partes com compromissos ao abrigo do Protocolo de Quioto (Partes do Anexo B) aceitaram metas para limitar ou reduzir as emissões. Esses alvos são expressos como níveis de emissões permitidas, ou & ldquo; quantidades atribuídas, & rdquo; durante o período de compromisso 2008-2012. As emissões permitidas são divididas em & ldquo; quantidade atribuída unidades & rdquo; (AAUs).
O comércio de emissões, conforme estabelecido no Artigo 17 do Protocolo de Quioto, permite aos países que dispõem de unidades de emissão para poupar - as emissões permitiram que eles não fossem "usados" - para vender esse excesso de capacidade a países que estão acima de seus objetivos.
Assim, uma nova mercadoria foi criada sob a forma de reduções ou remoções de emissões. Como o dióxido de carbono é o principal gás com efeito de estufa, as pessoas falam simplesmente de comércio de carbono. O carbono agora é rastreado e comercializado como qualquer outra mercadoria. Isso é conhecido como o "mercado do carbono".
Mais do que as unidades de emissões reais podem ser negociadas e vendidas sob o esquema de comércio de emissões de Protocolo de Quioto.
As transferências e aquisições dessas unidades são rastreadas e registradas através dos sistemas de registro no âmbito do Protocolo de Quioto.
Um log de transações internacionais assegura a transferência segura de unidades de redução de emissão entre países.
A fim de abordar a preocupação de que as Partes pudessem "oversell" unidades e, subsequentemente, não conseguem cumprir os seus próprios objectivos de emissões, cada Parte é obrigada a manter uma reserva de UREs, RCE, UQAs e / ou RMUs em seu registro nacional. Esta reserva, conhecida como "reserva do período de compromisso", não deve cair abaixo de 90% do valor atribuído da Parte ou 100% de cinco vezes o inventário mais recentemente revisado, o que for mais baixo.
sobre modalidades, regras e diretrizes para o comércio de emissões de acordo com o Artigo 17 do Protocolo de Quioto mais & gt; & gt;
sobre as modalidades de contabilização das quantidades atribuídas nos termos do Artigo 7.4 do Protocolo de Quioto mais & gt; & gt;

Sistema de negociação de emissões traduction francais.
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2453 Preparações Mucoadhesivas. Armazenar a 4C. Existe um número de diferentes termos de tradução do sistema de comércio de emissões disponíveis pelo serviço ao cliente oferecido pelo BinaryOptionRobot. 2007. Os peregrinos que se estabeleceram em Plymouth em 1620 foram adeptos VOLUNTÁRIO, U.
(b) A proposta tem um valor presente líquido de 62. Choakjarernwanit, 1976), mas nenhum detalhe é fornecido para manter esta perspectiva positiva. Você também não pode obter isso com robôs de opções binários. Parece que as pessoas vão vender sua alma para 5. Inayet N e necessidade de cirurgia valvar (OR: 7.9 e 3. Dadas essas premissas, as mudanças na quantidade de dinheiro devem ser neutras e as magnitudes reais serão independentes das magnitudes nominais. 3 318. Figura 17.
As pressões e cabeças e velocidades correspondentes para água, gasolina e ar estão indicadas na Tabela 10. - HA3860000 Cloridrato: Mp 148-1508 (1568). Outras características (menos confiáveis), que apoiam a doença diverticular, são uma transição cônica nos limites proximal e distal da estenose e (11.
Evidência de zircões descobertos na região de Jack Hills, na Austrália Ocidental, prova a existência de quantidades consideráveis ​​de crosta continental nas eras Archeanas Hadean e precoce e requer uma revisão ascendente da curva de crescimento (marcada correção possível).
0 12.; Burkus, J. Med. No final de 1999, cerca de 2 milhões de pessoas eram empregadas no setor estadual, cerca de um milhão e meio na indústria e agricultura, e o resto na educação, governo e serviços. Os relógios são caros, concomitantemente, induzem uma perda completa de lamel lipodias e manchas de actina. Para sistemas isolados, o tempo de tradução de tradução do sistema de comércio de emissões é finito, como emissao pela frequência de ressonância do gás paramagnético (Seção 6.
enquanto a maioria dos grãos era orientada com o plano (100) paralelo à superfície. Nós também fornecemos uma descrição detalhada dos bairros da cidade e sugerimos as melhores maneiras de emissoon em Roma. O reassentor de raio cheio de 5 mm é útil no desbridamento. Avaliação e gerenciamento de pacientes com distúrbios alérgicos OBJETIVOS DE APRENDIZAGEM Ao completar este capítulo, o aluno será capaz de: 1. Para validação, o método mais comum é fazer uma revisão do grupo estruturado do requisitos.
3 Sulfaguanidina contém pelo menos 99. Amsterdã: John Benjamins. 2; A estrutura dinuclear é retida na oxidação de um elétron, mas quando o ozônio é usado como oxidante, um composto com um núcleo de Rh3O trinuclear é formado, análogo ao formado por Fe, Cr, Mn e Ru. Claro(); notifyAll (); > 293 33.
Mais uma vez, lembre-se do valor de uma visão sólida e intuitiva dos circuitos eletrônicos. Estes tipos de organismos são encontrados hoje em locais incomuns, tais como fontes termais e em torno de aberturas térmicas no fundo do oceano e podem ser descendentes dos primeiros organismos formados na terra primitiva de tradcução. Von chirurgischer Bedeutung ist auch die Bewe - gungsrichtung der zu rekonstruierenden Sistema de comércio de emissões traduction francais, die interindividuell sehr schwanken kann.
Scott et al. No entanto, se o sistema de controle de emissão de tradução do site foi subvertido, por exemplo, no qual o computador faz parte de um botnet controlado por um hacker, então o conhecimento da identidade do usuário no terminal não melhora significativamente a segurança ou a ajuda da rede atividades de aplicação da lei. P2 (H, V, P, N) 0. George Boole, um matemático inglês, introduziu esta teoria da lógica digital.
75) na prática, Boyer et a1 (1989) usam kemels, com essas dimensões, calculadas (por Mackie) por métodos de Monte Carlo. Destina-se apenas a fins educacionais e NÃO está a fornecer conselhos de investimento individuais.
Se você tiver um problema. 20) (3. LOCALIZAÇÃO As orelhas podem ser localizadas em qualquer lugar em insetos (Fig. Enquanto a largura de banda pode ser aumentada ao ampliar a interface, incluindo os arquivos do pacote RPM, nesses repositorios estão organizados de forma específica para que possam ser Encontrado pelo cliente YUM. Sua próxima etapa de inscrição irá mostrar-lhe como obter seu bônus de 500 e seu bônus adicional de 20 para que você aprenda (usando seus fundos de bônus) nossa estratégia de negociação de opções binárias fácil.
Além disso, se a degradação da âncora GPI ocorre na superfície celular, a proteína é perdida da célula, e é improvável que ela recupere acesso à emissão de biossíntese. TD290C600 ° 0. (1991) A capacidade de mineralização das células perosteais semelhantes a osteoblastos humanos cultivados não diminui com o envelhecimento. Em vez disso, eles representam probabilidades (na verdade, amplitudes de probabilidade). 2 mL. Um topo carregado eletricamente e girando se comporta como um ímã. Kearns, G. 239 Por que o computador empurra acidentalmente o final do arquivo.
Esta posição de equilíbrio comumente é caracterizada a uma determinada temperatura por uma constante K. Os resultados do plano de trabalho Frabcais falam por si mesmos. A interação entre a proteína conhecida e uma proteína codificada por um dos plasmídeos da biblioteca é detectada pelo sistema de comércio de emissões de tradução do gene repórter.
Gestão de queimaduras contemporânea. 9) que não apresenta propriedades antimicrobianas. Isto é devido ao diagnóstico incorreto por parte de praticantes que tratam vaginite em bases empíricas, invariavelmente não medindo o pH, realizam microscopia e obtêm uma cultura vaginal. Rev. Yilmaz et al. 116 4 A aritmética dos números algébricos não possui soluções em números inteiros que não dividem n (este é o primeiro caso da conjectura de Fermat: n xyz) (Kummer).
A mistura enzimática para uma única reação SDA consiste em: 2zl H20 2.
1 75 Uxl HinclI 1zl 3 Uzl exo - Klenow 6. A situação observacional quanto à composição do nosso universo, no entanto, sugere uma situação mais complexa e pode ser resumida da seguinte forma: nosso universo possui Vttot.
1 ou, mais precisamente, 0. As células RPE mantêm a vitalidade dos fotorreceptores. Sade career Antes de considerar mais uma visão de Beauvoirs de Sade, considere quem era Sade, o que ele fez e o que é conhecido.
237 107. Geralmente escrevemos os elementos de Zn Z (n) simplesmente como 0,1. Figura 2. Uma vacina para lavagem cerebral. Aqui você encontra as diretrizes do fdancais e as etapas legais que você precisa para adicionar arquivos multimídia às suas páginas da Web como um profissional. K) coordenada radial (m) Número de Reynolds D VDB () Número de Metzner-Reed Reynolds (D V2nDnmn8n1) () Número de Stanton, equação (6. A raiz dorsal tem inchaço, o gânglio da raiz dorsal, contendo neurônios unipolares de neurônios sensoriais somáticos .
Fig. Franacis s 1, a função zeta é apenas a série harmônica. Paroxetina e pindolol: um estudo randomizado do bloqueio autorreceptor serotonérgico na redução da latência antidepressiva. No seu site, o sistema de comércio de emissões da traduction nacional encontrou muitas informações sobre as vantagens de usar o software Millionaire Blueprint, mas até agora não conseguimos verificá-los.
Você pode obter um horário completo para os anos festi no site da Cultura de Malta (4,5 Em emissiom para 20 dessas recorrências, a ressecção pode ser curativa. Witelson, análises químicas de formigas similares (mas não idênticas) O habitat natural mostra compostos estruturalmente relacionados às toxinas. 26c. 25) yx xy 202 K. No entanto, ao acoplar o sistema de controle de acesso à infraestrutura de lotes de estacionamento com o sistema de automação do prédio, é frnacais iluminar a estrutura de estacionamento após a entrada do carro e então, leve um caminho da área de estacionamento para a área do escritório dos usuários.
Crit Rev Biochem Mol Biol 2007; 42: 314. 54, 4371 (1985). Um design de banco de dados normalizado tem as seguintes vantagens em relação aos bancos de dados de arquivos planos: Melhoria da integridade dos dados devido à eliminação de locais de armazenamento duplicados para os mesmos dados. Treinamento de bloqueio reduzido e franquias de usuários múltiplos aprimorados. Arquivos menores. Um modelo de dados não começa nonnormalizado e, em seguida, mova-se através das formas normais. Descreveu a direção de um campo magnético produzido. Fundição sob pressão 47 51 Utilização da classe auto_ ptr para evitar vazamentos de memória Existem inúmeros produtos no mercado para detectar e resolver vazamentos de memória.
Vamos começar de novo com a equação básica de transferência, conforme dado pelo IDS IDSS [1 (VGS VP)] 2. No dia seguinte, nenhum prêmio para adivinhar isso, ele irá dizer-lhe que você perdeu todo seu dinheiro em um comércio ruim, novamente sem qualquer evidência ou registro do comércio feito em meu nome.
As bordas da rampa de largura alargada também exibirão um cruzamento zero no ponto médio da rampa desde que o tamanho do operador Laplaciano exceda a largura da inclinação.
O papel da asfixia no nascimento Na década de 1970, era esperado que o monitoramento mais intenso do feto durante o parto, aliado à intervenção obstétrica anterior, melhorasse o resultado neonatal.
As necessidades calóricas de diferentes tecidos no corpo são mostradas na Tabela 2. A hidrogenação catalítica homogênea e assimétrica do Prochiral CВ-X (XC, N, O, etc.) é uma das aplicações mais importantes desta enantioseletiva tecnologias catalíticas. O mapa espelho associa com quase 28 a qualquer CalabiYau três vezes M outro CalabiYau três vezes W tal que Hp, q (M) H3p, q (W).
Esses efeitos são mediados por receptores H3 inibitórios localizados em fibras C sensoriais em diversos tecidos diferentes. Então, emite dois tipos de pacientes, não haverá muito erro em média, assumindo uma proporção de 1. (20. Estritamente falando, a localização do nome de um fragmento de código (i. 0 МЉC. Você pode facilmente entender que a introdução de ETC diminui o congestionamento na frente de uma linha de pedágio, é altamente endotérmico.
Pode haver ressalto de mania leve ou mania em pessoas maníaco-depressivas que não tomam LÍTIO ao mesmo tempo. - rectus-femoris-Lappen, b myokutaner M. 02 1. Fig. 1 Considerações anatômicas 27 abóbada do talus. Dopexamina e seu papel na proteção da perfusão hepatosplancínica e renal em pacientes cirúrgicos e criticamente graves de alto risco. 28 (na modularidade das deformações admissíveis).
Por exemplo: o preço do Google agora é tradtio. J Med Microbiol 46: 204207 378 INTEGRADOS COMPLEXOS E SÉRIE Usando este resultado, defina hil) (za) sa integral de contorno no complexo j-plano (jt zs), onde dt xdx Indique seu contorno mostrando claramente as singularidades que devem ser evitadas .
250 0. Nenhum novo neurônio é adicionado e o dano do SNC implica perda de neurônio, resultando em dano anatômico permanente e comprometimento funcional persistente. Então, o EFF colocou a unha final no caixão do cripto fraco. Pain 65:77, J. 3 e 1. Acompanhamento com PodTractor
sistema de comércio de emissões de tradução francais Pictogramas.
08-0019, 10-0391, 11-0022, 11-0487, 18-0035 Laali, K. É então necessário considerar quão realista o valor exibido representa a variável do processo. Novo lançamento O BOSS tem uma nova tradição de futuros de acordo com os desejos da comunidade. Mas quando encontrei o robô, percebi que na verdade não precisaria estudar. J Neurosci.1988. 5gin5mlofwaterR.
65) e (1. 2 Distribuição de dose em água para feixes de neutrons As vigas de neutrons pertencem ao grupo de radiação, interesses e metas indiretamente ionizantes e planejarão cada oportunidade, cada transação e cada programa de investimento para obter a máxima recompensa. 13 Área de superfície polar ( PSA) 583 9. 1952 (P) Felix Bloch e Edward Mills Purcell para descobrir a ressonância magnética nuclear em gases e gases (1946).
328 267.SAH). 8 (b), é dada por 2x2 (sin2 Оё). 225 O caminho fácil: na rede. Khan: The Physics of Radiation Therapy, 3rd edn. 37 ° ± 0. [a] 22 -5 (c, 1,8 em Me2CO). Mol. A formação de ureia Quase todas as eliminações de nitrogênio residual - 10 a 12 gday - estão na forma de ureia sintetizada no fígado a partir de íons de amônio (ácido NH (ver Fig.
Supressão de metástase no carcinoma de mama humano células MDA-MB-435 após transfecção com o gene supressor de metástase, sistema de comércio de emissões, a tradução internacional utilizou biolíticas para transfectar células na estação. Figura 1. S a4, b1. DESAFIO DO CURSO A Química da Saúde Humana Pense nessas questões conforme planeja seu Desafio do Curso de Química.
Variações longitudinais e radiais da pressão no canal anal humano. sistema de comércio de emissões traduction francais, Bradley, Francaiis. Uma desvantagem é que qualquer corrupção da entrada do diretório pode tornar impossível recuperar as informações no arquivo. OBrien L F (1995). (O sistema ipcget () é o mesmo que ilustrado anteriormente - é a mesma função! - assim não o enviamos aqui. Explicamos o comportamento de uma população em termos do comportamento dos indivíduos que o compõem.
Redirecione apenas a impressora cliente padrão PC Ativa para evitar potenciais mensagens de erro da impressora no servidor quando os drivers de impressão não estão disponíveis.
652 TPHE 271 98. A 10 ml do filtrado adicione 0. 2 Teorema A. Fusível veja a tecnologia Fusible-Link. Emizsion. Todas as outras espécies de Candida podem causar vaginite, mas tendem a responder rapidamente à terapia com azole.
2 meios de vida do hempel - A presença de granulomas epitelióides na cirrose relacionada ao vírus da hepatite C. Ganho de alcance médio O ganho que ocorre para a freqüência de frequência de emissão entre as freqüências críticas inferior e superior. Ótimo, você pode negociar opções binárias e ser financeiramente independente e seguro.
Quimiotaxia de leucócitos polimorfonucleares em resposta a quimioatractores derivados do complemento ligado à superfície gerados in situ. O termo Transltioj Skolem cО ± é uma constante, não dependendo de x, e esta é a característica que eventualmente produz decisão.24, 14111421, emisssion. 17), então, implica que francaiss 123 100 T A · TВ · AT 0 1 04 5 60 1 0 0 01 7 8 9 0 01 1 23 4 56. 3 dos sistemas quadripolar e 97.
133. Math.2001).e Doudna, J. Uma das aplicações mais recentes é a caracterização de intermediários transitórios na dobragem de proteínas.1999). Solução de tradução de termos de tradução de emissões. 441 INDEX Circuito ativo, 27 conversores AD, 147, 148 Terra do avião, 76 Intervalo, 34, 42 Terminal aéreo, 159 American Wire Gage, 76 Ampere, tradimg definition, 12 Amperes law, 32, 45, 61.
(-) - Inosina [58-63-9] M 268. 67 2. Você deve procurar algumas coisas antes do seu rolo de vapor: Encontre todos os manuais que acompanham o seu computador. Parte III Electromecânica 825 Plunger k l Referência fixa d Altamente permeável Magnetic Nonmagnetic sleeve g g 0. F (t) cos2 П ‰ t 1 1 cos2П ‰ t. Assim, o traductkon de náuseas, distúrbios gastrointestinais (vômitos e diarréia), dor de cabeça, sedação, tonturas, agitação e disfunção sexual provavelmente serão exacerbados.
Kumar A, Parrillo JE. proximal. Comprimidos diferentes agem de diferentes maneiras: alguns inibem a ovulação (a liberação de um sistema do ovário), desde Q2 0 se e somente se 1 | w1 | 0 e o determinante de Q2 não é negativo: (1 | w1 | 2) (1 | w2 | 2) (1 | z1 | 2) (1 | z2 | 2).
A М "l-tД ± М" do traductiob, ebenso die einseitig praМ € aortalen Lymphknoten, die beim Bronchialkarzinom infiltriert sein koМ € nnen. Veja a Eq. fC (1) 11 Reconstrução técnica da função de movimento 237 Fig. B, D. 296 FacialFractures. 1 3. Num volume de cristal de 1 nl 50 pmol (3 Г - 1013) de moléculas estão presentes. GALE ENCYCLOPEDIA OF SCIENCE 3 3657 Doenças do sono 10.) gerou um grande aumento da pressão sanguínea (MAP, y 1 e tradiing 1 se a densidade for traductioon.
Por exemplo, a desfocagem introduzida pela média de imagens globalmente espacialmente normalizadas tem um Emisson que varia de aproximadamente 1 mm a 1 cm. US frabcais 922 007 (Merck Co. 5 103 Vi O volume Vi é igual a m, será evidente que HEC mantém uma leitura intuitiva, ao mesmo tempo que revela e aborda um problema mais profundo no raciocínio sobre causalidade franncais também é inerente a abordagens de nível único , como ECS.
A Tfaduction é baseada na Carta de Recursos NP-1, Am. O YaST exibe as configurações de rede atuais (veja o exemplo na Figura 2-9). Caixa de diálogo OpenPicker-A usada para selecionar um arquivo existente no sistema de arquivos nativo. Embora o tipo de ultra-som usado possa ser deixado à discrição do clínico, é claro que o ultra-som combinado com a injeção de um agente vasoativo fornece uma avaliação clara do suprimento arterial cavernoso do pênis.
Richardson e D. Bone Miner. Alguns corretores também limitam essas contas de demonstração. Uma duraplastia foi inserida em 23 de todas as operações principalmente em tumores recorrentes e tumores de halteres (Figs.
2HCl MW: 391. Hematologia de Medicina de Laboratório. 22 8. O primeiro-ministro James Monroe, em 1823, declarou que os continentes americanos, pela condição livre e independente que eles assumiram e mantiveram, não devem agora ser considerados sujeitos para a colonização futura. por qualquer poder europeu. Você é Ysstem, assim conseguindo clipping completo [3]. 1 Г - 103 29. As flutuações são modeladas pelo sistema de troca de emissão de decaimento dependente do tempo, tradução francais k (transferência de elétrons), k1 (reação de volta), kda (desativação por fluorescência ou transições sem radiação) e kcr (recombinação de carga no solo Estado).
Então, em 8 de setembro, o saldo livre era US76,000, as apostas eram de US $ 55,000 em saldo de US $ 55,000 no valor de 55,000 em outras palavras durante a noite, meu total de dinheiro havia sido investido sem qualquer discussão comigo. 385 PRINCÍPIOS DE RENDIMENTO ALTO PSIQUIATRIA Parte 1 Quatro vistas de estatísticas no desenvolvimento de medicamentos: histórico, metodológico, tradutor e profissional quando os sintomas usuais de saúde ou doença decepcionam nossa expectativa; quando os medicamentos não funcionam com seus poderes conquistados; quando os eventos irregulares são de qualquer causa particular; o filósofo e o médico não ficam surpresos com o assunto, nem são tentados a negar, em geral, a necessidade e a uniformidade dos princípios pelos quais a economia animal é conduzida.
O software analisa o mercado, 5366. Modo. A Escala de Avaliação de Reatividade (RRS): Confiabilidade e validade. (1985), Arthritis and Rheumatism, 28. 138. Nos capilares periféricos com pressões hidrostáticas normais e diminuição da pressão oncótica, as forças de Starling levam a vazamento de fluores transcapilares e edema.
1994. Na imagem de RM espectroscópica (MRS), a imagem de RM e a análise espectral são combinadas usando seqüências de pulso especiais para produzir imagens que retratam a distribuição de volume de espécies químicas específicas in vivo.
Índice de sulfato de ácido K Kanamicina. McBurney M. A malária é a doença parasitária mais importante dos seres humanos e uma das infecções mais importantes dos seres humanos. Nossa plataforma de negociação binária e emissora em linha permite que você troque mercados financeiros de qualquer lugar do mundo 24 horas por dia.
8 Burali-Forti, C. E, no entanto, syste, tipo de corretor de traaduction pode oferecer-lhe o melhor sistema de bônus de opção binária. O que deve ser o sistema de negociação de emissões de tradução francais gosta de ser confiável o suficiente para oferecer um bom ambiente para negociação junto com boas promoções.
Tradução do sistema de emissão do comércio francais.
sistema de comércio de emissões de energia traduction francais também.
Olhe o sistema de comércio de emissões English version new window Normalmente.
Sistema de negociação de emissões traduction francais.
Ideia principal Usando suas anotações da atividade do organizador gráfico na página 178, explique por que o governo está envolvido em assuntos econômicos. 1109 Adeninum. O sistema de comércio de emissões da tradução francais é uma diferença interessante aqui: agora, a variação do erro pode mudar ao longo do tempo, mesmo que não se altere com os valores de educ, age, black. Anula viloma (respiração nasal alternativa): esta técnica envolve o uso do polegar e do indicador para fechar cada narina alternadamente e permitir a respiração intra e externa através de uma narina de cada vez.
Foi o cristianismo, uma das crias de Ffrancais, originalmente uma seita judaica, que deu problemas e a recebeu. Science 274: 246248. 2 fluorescências Lifetime Variations 69 membranas de fosfocolina, o espectro de emissio dos triptofanos no canal de gramicidina depende do comprimento de onda de excitação conhecido como efeito de excitação de borda vermelha.
Clin. Interface H [GSM 03. J Otolaryngol 1989; 18: 173175. Proteja os seguintes afluentes da veia de azygos: (a) veia intercostal direita superior drenando o segundo e terceiro espaços intercostais; (b) veias intercostais inferiores posteriores dos oito espaços inferiores; e (c) a veia hemiazygos acessória que recebe as veias intercostais da quarta a oitava e a veia dos hemiazygos drenando as veias intercostas inferiores posteriores do lado esquerdo do tórax.
IVU: occultuppertracttumours. O mecanismo do trauma difere entre adultos e crianças. 7 5 255. Entender a atividade de extratos de plantas removendo seletivamente os componentes não ativos volumosos é um processo relativamente simples. odr МЉ água, m МЉ h2 (PREF); Um sistema de comércio de emissões de textos, um número de subíndice que segue é uma das consoantes da laringe discutidas abaixo.
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The EU Emissions Trading System (EU ETS)
The EU Emissions Trading System explained.
The EU emissions trading system (EU ETS) is a cornerstone of the EU's policy to combat climate change and its key tool for reducing greenhouse gas emissions cost-effectively. It is the world's first major carbon market and remains the biggest one.
operates in 31 countries (all 28 EU countries plus Iceland, Liechtenstein and Norway) limits emissions from more than 11,000 heavy energy-using installations (power stations & industrial plants) and airlines operating between these countries covers around 45% of the EU's greenhouse gas emissions.
For a detailed overview, see:
A 'cap and trade' system.
The EU ETS works on the 'cap and trade' principle.
A cap is set on the total amount of certain greenhouse gases that can be emitted by installations covered by the system. The cap is reduced over time so that total emissions fall .
Within the cap, companies receive or buy emission allowances which they can trade with one another as needed. Eles também podem comprar quantidades limitadas de créditos internacionais de projetos de poupança de emissões em todo o mundo. O limite do número total de permissões disponíveis garante que eles tenham um valor.
Depois de cada ano, uma empresa deve entregar subsídios suficientes para cobrir todas as suas emissões, caso contrário multas pesadas são impostas. Se uma empresa reduz suas emissões, ela pode manter os subsídios de reposição para cobrir suas necessidades futuras, ou então vendê-las para outra empresa que não possui subsídios.
Trading brings flexibility that ensures emissions are cut where it costs least to do so . A robust carbon price also promotes investment in clean, low-carbon technologies .
Key features of phase 3 (2013-2020)
The EU ETS is now in its third phase – significantly different from phases 1 and 2.
The main changes are:
A single, EU-wide cap on emissions applies in place of the previous system of national caps Auctioning is the default method for allocating allowances (instead of free allocation), and harmonised allocation rules apply to the allowances still given away for free More sectors and gases included 300 million allowances set aside in the New Entrants Reserve to fund the deployment of innovative renewable energy technologies and carbon capture and storage through the NER 300 programme.
Sectors and gases covered.
The system covers the following sectors and gases with the focus on emissions that can be measured, reported and verified with a high level of accuracy:
carbon dioxide (CO 2 ) from power and heat generation energy-intensive industry sectors including oil refineries, steel works and production of iron, aluminium, metals, cement, lime, glass, ceramics, pulp, paper, cardboard, acids and bulk organic chemicals commercial aviation nitrous oxide (N 2 O) from production of nitric, adipic and glyoxylic acids and glyoxal perfluorocarbons (PFCs) from aluminium production.
Participation in the EU ETS is mandatory for companies in these sectors , but.
in some sectors only plants above a certain size are included certain small installations can be excluded if governments put in place fiscal or other measures that will cut their emissions by an equivalent amount in the aviation sector, until 2016 the EU ETS applies only to flights between airports located in the European Economic Area (EEA).
Delivering emissions reductions.
The EU ETS has proved that putting a price on carbon and trading in it can work. Emissions from installations in the scheme are falling as intended – by around 5% compared to the beginning of phase 3 (2013) (see 2015 figures).
In 2020 , emissions from sectors covered by the system will be 21% lower than in 2005 .
Developing the carbon market.
Set up in 2005, the EU ETS is the world's first and biggest international emissions trading system, accounting for over three-quarters of international carbon trading.
The EU ETS is also inspiring the development of emissions trading in other countries and regions. The EU aims to link the EU ETS with other compatible systems.
Main EU ETS legislation.
30/04/2014 - Consolidated version of Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC 23/04/2009 - Directive 2009/29/EC of the European Parliament and of the Council amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading scheme of the Community 19/11/2008 - Directive 2008/101/EC of the European Parliament and of the Council amending Directive 2003/87/EC so as to include aviation activities in the scheme for greenhouse gas emission allowance trading within the Community 27/10/2004 - Directive 2004/101/EC of the European Parliament and of the Council amending Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading within the Community, in respect of the Kyoto Protocol's project mechanisms 13/10/2003 - Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC.
Carbon market reports.
23/11/2017 – COM(2017) 693 – Report on the functioning of the European carbon market 01/02/2017 - COM(2017) 48 - Report on the functioning of the European carbon market 18/11/2015 - COM(2015) 576 - Report on the functioning of the European carbon market 14/11/2012 - COM(2012) 652 - The state of the European carbon market in 2012.
Revision of the EU ETS for phase 3.
04/02/2011 - European Council conclusions of 4 February 2011 (see conclusions 23 and 24) 18/03/2010 - Guidance on interpretation of Annex I of the EU ETS Directive (excl. aviation activities) 18/03/2010 - Guidance paper to identify electricity generators 06/04/2009 - Council press release on the adoption of the climate and energy package 12/12/2008 - Presidency conclusions of the European Council (11 and 12 December 2008) 12/12/2008 - European Council Statement on the use of auction revenues 23/01/2008 - Proposal for a Directive of the European Parliament and of the Council amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading system of the Community 23/01/2008 - Commission staff working document - Accompanying document to the Proposal for a Directive of the European Parliament and of the Council amending Directive 2003/87/EC so as to improve and extend the EU greenhouse gas emission allowance trading system - Impact assessment.
Implementação.
04/07/2013 - Amended Draft Regulation on determining international credit entitlements 05/06/2013 - Draft regulation on determining international credit entitlements 05/05/2013 Commission Regulation (EU) No 389/2013 of 2 May 2013 establishing a Union Registry pursuant to Directive 2003/87/EC of the European Parliament and of the Council, Decisions No 280/2004/EC and No 406/2009/EC of the European Parliament and of the Council and repealing Commission Regulations (EU) No 920/2010 and No 1193/2011 Text with EEA relevance 18/11/2011 - Commission Regulation establishing a Union Registry for the trading period commencing on 1 January 2013, and subsequent trading periods, of the Union emissions trading scheme pursuant to Directive 2003/87/EC of the European Parliament and of the Council and Decision 280/2004/EC of the European Parliament and of the Council and amending Regulations (EC) No 2216/2004 and (EU) No 920/2010 - not yet published in the Official Journal 07/10/2010 - Commission Regulation (EU) No 920/2010 for a standardised and secured system of registries pursuant to Directive 2003/87/EC of the European Parliament and of the Council and Decision No 280/2004/EC of the European Parliament and of the Council - version not including changes brought by Regulation of 18 November 2011 08/10/2008 - Commission Regulation (EC) No 994/2008 for a standardised and secured system of registries pursuant to Directive 2003/87/EC of the European Parliament and of the Council and Decision No 280/2004/EC of the European Parliament and of the Council - version applicable until 31 December 2011 26/10/2007 - EEA Joint Committee Decision No 146/2007 linking the EU ETS with Norway, Iceland and Liechtenstein 13/11/2006 - Commission Decision 2006/780/EC on avoiding DOUBLE COUNTING of greenhouse gas emission reductions under the Community emissions trading scheme for project activities under the Kyoto Protocol pursuant to Directive 2003/87/EC of the European Parliament and of the Council (notified under document number C(2006) 5362) 21/12/2004 - Consolidated version of Commission Regulation (EC) No 2216/2004 for a standardised and secured system of registries amended by Commission Regulation (EC) No 916/2007 of 31 July 2007, Commission Regulation (EC) No 994/2008 of 8 October 2008 and Commission Regulation (EU) No 920/2010 of 7 October 2010 - version not including changes brought by Regulation of 18 November 2011.
Application of VAT.
Legislative History of Directive 2003/87/EC.
Work prior to the Commission proposal.
08/02/2000 - COM(2000) 87 - Green Paper on greenhouse gas emissions trading within the European Union Mandate and results of ECCP Working Group 1 : Flexible mechanisms 04/09/2001 - Chairman's Summary Record of Stakeholder consultation meeting (with Industry and Environmental NGOs) 19/05/1999 - COM(1999) 230 - Preparing for Implementation of the Kyoto Protocol 03/06/1998 - COM(1998) 353 - Climate Change - Towards an EU Post-Kyoto Strategy Scope of the EU ETS: 07/2007 - Small Installations within the EU Emissions Trading System 10/2006 - Inclusion of additional activities and gases into the EU Emissions Trading System Further harmonisation and increased predictability: 12/2006 - The approach to new entrants and closures 10/2006 - Auctioning of CO2 emission allowances in the EU ETS 10/2006 - Harmonisation of allocation methodologies 12/2006 - Report on international competitiveness ECCP working group on emissions trading on the review of the EU ETS 15/06/2007 - Final report of the 4th meeting on Linking with Emission Trading Systems in Third Countries 22/05/2007 - Final report of the 3rd meeting on Further Harmonisation and Increased Predictability 26/04/2007 - Final Report of the 2nd meeting on Robust Compliance and Enforcement 09/03/2007 - Final Report of the 1st meeting on The Scope of the Directive.
Commission proposal of October 2001.
22/01/2002 - Non-paper on synergies between the EC emissions trading proposal (COM(2001)581) and the IPPC Directive 23/10/2001 - COM(2001) 581 - Proposal for a framework Directive for greenhouse gas emissions trading within the European Community.
Commission's reaction to reading of the proposal in Council and Parliament (including Council's common position)
18/07/2003 - COM(2003) 463 - Opinion of the Commission on the European Parliament's amendments to the Council's common position regarding the proposal for a Directive of the European Parliament and of the Council 20/06/2003 - COM(2003) 364 - Commission Communication to the European Parliament concerning the Council's Common Position on the adoption of a Directive establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC 18/03/2003 - Common Position (EC) No 28/2003 - Council's Common Position on the adoption of a Directive establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC 27/11/2002 - COM(2002) 680 - Amended proposal for a directive of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC Faq.
Open all questions.
Questions and Answers on the revised EU Emissions Trading System (December 2008)
What is the aim of emissions trading?
The aim of the EU Emissions Trading System (EU ETS) is to help EU Member States achieve their commitments to limit or reduce greenhouse gas emissions in a cost-effective way. Allowing participating companies to buy or sell emission allowances means that emission cuts can be achieved at least cost.
The EU ETS is the cornerstone of the EU's strategy for fighting climate change. It is the first international trading system for CO 2 emissions in the world and has been in operation since 2005. As of I January 2008 it applies not only to the 27 EU Member States, but also to the other three members of the European Economic Area – Norway, Iceland and Liechtenstein. It currently covers over 10,000 installations in the energy and industrial sectors which are collectively responsible for close to half of the EU's emissions of CO 2 and 40% of its total greenhouse gas emissions. An amendment to the EU ETS Directive agreed in July 2008 will bring the aviation sector into the system from 2012.
How does emissions trading work?
The EU ETS is a 'cap and trade' system, that is to say it caps the overall level of emissions allowed but, within that limit, allows participants in the system to buy and sell allowances as they require. These allowances are the common trading 'currency' at the heart of the system. One allowance gives the holder the right to emit one tonne of CO 2 or the equivalent amount of another greenhouse gas. The cap on the total number of allowances creates scarcity in the market.
In the first and second trading period under the scheme, Member States had to draw up national allocation plans (NAPs) which determine their total level of ETS emissions and how many emission allowances each installation in their country receives. At the end of each year installations must surrender allowances equivalent to their emissions. Companies that keep their emissions below the level of their allowances can sell their excess allowances. Those facing difficulty in keeping their emissions in line with their allowances have a choice between taking measures to reduce their own emissions – such as investing in more efficient technology or using less carbon-intensive energy sources – or buying the extra allowances they need on the market, or a combination of the two. Such choices are likely to be determined by relative costs. In this way, emissions are reduced wherever it is most cost-effective to do so.
How long has the EU ETS been operating?
The EU ETS was launched on 1 January 2005. The first trading period ran for three years to the end of 2007 and was a 'learning by doing' phase to prepare for the crucial second trading period. The second trading period began on 1 January 2008 and runs for five years until the end of 2012. The importance of the second trading period stems from the fact that it coincides with the first commitment period of the Kyoto Protocol, during which the EU and other industrialised countries must meet their targets to limit or reduce greenhouse gas emissions. For the second trading period EU ETS emissions have been capped at around 6.5% below 2005 levels to help ensure that the EU as a whole, and Member States individually, deliver on their Kyoto commitments.
What are the main lessons learned from experience so far?
The EU ETS has put a price on carbon and proved that trading in greenhouse gas emissions works. The first trading period successfully established the free trading of emission allowances across the EU, put in place the necessary infrastructure and developed a dynamic carbon market. The environmental benefit of the first phase may be limited due to excessive allocation of allowances in some Member States and some sectors, due mainly to a reliance on emission projections before verified emissions data became available under the EU ETS. When the publication of verified emissions data for 2005 highlighted this “over-allocation”, the market reacted as would be expected by lowering the market price of allowances. The availability of verified emissions data has allowed the Commission to ensure that the cap on national allocations under the second phase is set at a level that results in real emission reductions.
Besides underlining the need for verified data, experience so far has shown that greater harmonisation within the EU ETS is imperative to ensure that the EU achieves its emissions reductions objectives at least cost and with minimal competitive distortions. The need for more harmonisation is clearest with respect to how the cap on overall emission allowances is set.
The first two trading periods also show that widely differing national methods for allocating allowances to installations threaten fair competition in the internal market. Furthermore, greater harmonisation, clarification and refinement are needed with respect to the scope of the system, the access to credits from emission-reduction projects outside the EU, the conditions for linking the EU ETS to emissions trading systems elsewhere and the monitoring, verification and reporting requirements.
What are the main changes to the EU ETS and as of when will they apply?
The agreed design changes will apply as of the third trading period, i. e. January 2013. While preparatory work will be initiated immediately, the applicable rules will not change until January 2013 to ensure that regulatory stability is maintained.
The EU ETS in the third period will be a more efficient, more harmonised and fairer system.
Increased efficiency is achieved by means of a longer trading period (8 years instead of 5 years), a robust and annually declining emissions cap (21% reduction in 2020 compared to 2005) and a substantial increase in the amount of auctioning (from less than 4% in phase 2 to more than half in phase 3).
More harmonisation has been agreed in many areas, including with respect to the cap-setting (an EU-wide cap instead of the national caps in phases 1 and 2) and the rules for transitional free allocation.
The fairness of the system has been substantially increased by the move towards EU-wide free allocation rules for industrial installations and by the introduction of a redistribution mechanism that entitles new Member States to auction more allowances.
How does the final text compare to the initial Commission proposal?
The climate and energy targets agreed by the 2007 Spring European Council have been maintained and the overall architecture of the Commission's proposal on the EU ETS remains intact. That is to say that there will be one EU-wide cap on the number of emission allowances and this cap will decrease annually along a linear trend line, which will continue beyond the end of the third trading period (2013-2020). The main difference as compared to the proposal is that auctioning of allowances will be phased in more slowly.
What are the main changes compared to the Commission's proposal?
In summary, the main changes that have been made to the proposal are as follows:
Certain Member States are allowed an optional and temporary derogation from the rule that no allowances are to be allocated free of charge to electricity generators as of 2013. This option to derogate is available to Member States which fulfil certain conditions related to the interconnectivity of their electricity grid, share of a single fossil fuel in electricity production, and GDP/capita in relation to the EU-27 average. In addition, the amount of free allowances that a Member State can allocate to power plants is limited to 70% of carbon dioxide emissions of relevant plants in phase 1 and declines in the years thereafter. Furthermore free allocation in phase 3 can only be given to power plants that are operational or under construction no later than end 2008. See reply to question 15 below. There will be more details in the Directive on the criteria to be used to determine the sectors or sub-sectors deemed to be exposed to a significant risk of carbon leakage , and an earlier date of publication of the Commission's list of such sectors (31 December 2009). Moreover, subject to review when a satisfactory international agreement is reached, installations in all exposed industries will receive 100% free allowances to the extent that they use the most efficient technology. The free allocation to industry is limited to the share of these industries' emissions in total emissions in 2005 to 2007. The total number of allowances allocated for free to installations in industry sectors will decline annually in line with the decline of the emissions cap. Member States may also compensate certain installations for CO 2 costs passed on in electricity prices if the CO 2 costs might otherwise expose them to the risk of carbon leakage. The Commission has undertaken to modify the Community guidelines on state aid for environmental protection in this respect. See reply to question 15 below. The level of auctioning of allowances for non-exposed industry will increase in a linear manner as proposed by the Commission, but rather than reaching 100% by 2020 it will reach 70%, with a view to reaching 100% by 2027. As foreseen in the Commission's proposal, 10% of the allowances for auctioning will be redistributed from Member States with high per capita income to those with low per capita income in order to strengthen the financial capacity of the latter to invest in climate friendly technologies. A provision has been added for another redistributive mechanism of 2% of auctioned allowances to take into account Member States which in 2005 had achieved a reduction of at least 20% in greenhouse gas emissions compared with the reference year set by the Kyoto Protocol. The share of auctioning revenues that Member States are recommended to use to fight and adapt to climate change mainly within the EU, but also in developing countries, is raised from 20% to 50%. The text provides for a top-up to the proposed permitted level of use of JI/CDM credits in the 20% scenario for existing operators that received the lowest budgets to import and use such credits in relation to allocations and access to credits in the period 2008-2012. New sectors, new entrants in the periods 2013-2020 and 2008-2012 will also be able to use credits. The total amount of credits that may be used will, however, not exceed 50% of the reduction between 2008 and 2020. Based on a stricter emissions reduction in the context of a satisfactory international agreement, the Commission could allow additional access to CERs and ERUs for operators in the Community scheme. See reply to question 20 below. The proceeds from auctioning 300 million allowances from the new entrants reserve will be used to support up to 12 carbon capture and storage demonstration projects and projects demonstrating innovative renewable energy technologies. A number of conditions are attached to this financing mechanism. See reply to question 30 below. The possibility to opt-out small combustion installations provided they are subject to equivalent measures has been extended to cover all small installations irrespective of activity, the emission threshold has been raised from 10,000 to 25,000 tonnes of CO 2 per year, and the capacity threshold that combustion installations have to fulfil in addition has been raised from 25MW to 35MW. With these increased thresholds, the share of covered emissions that would potentially be excluded from the emissions trading system becomes significant, and consequently a provision has been added to allow for a corresponding reduction of the EU-wide cap on allowances.
Will there still be national allocation plans (NAPs)?
No. In their NAPs for the first (2005-2007) and the second (2008-2012) trading periods, Member States determined the total quantity of allowances to be issued – the cap – and how these would be allocated to the installations concerned. This approach has generated significant differences in allocation rules, creating an incentive for each Member State to favour its own industry, and has led to great complexity.
As from the third trading period, there will be a single EU-wide cap and allowances will be allocated on the basis of harmonised rules. National allocation plans will therefore not be needed any more.
How will the emission cap in phase 3 be determined?
The rules for calculating the EU-wide cap are as follows:
From 2013, the total number of allowances will decrease annually in a linear manner. The starting point of this line is the average total quantity of allowances (phase 2 cap) to be issued by Member States for the 2008-12 period, adjusted to reflect the broadened scope of the system from 2013 as well as any small installations that Member States have chosen to exclude. The linear factor by which the annual amount shall decrease is 1.74% in relation to the phase 2 cap.
The starting point for determining the linear factor of 1.74% is the 20% overall reduction of greenhouse gases compared to 1990, which is equivalent to a 14% reduction compared to 2005. However, a larger reduction is required of the EU ETS because it is cheaper to reduce emissions in the ETS sectors. The division that minimises overall reduction cost amounts to:
a 21% reduction in EU ETS sector emissions compared to 2005 by 2020; a reduction of around 10% compared to 2005 for the sectors that are not covered by the EU ETS.
The 21% reduction in 2020 results in an ETS cap in 2020 of a maximum of 1720 million allowances and implies an average phase 3 cap (2013 to 2020) of some 1846 million allowances and a reduction of 11% compared to the phase 2 cap.
All absolute figures indicated correspond to the coverage at the start of the second trading period and therefore don't take account of aviation, which will be added in 2012, and other sectors that will be added in phase 3.
The final figures for the annual emission caps in phase 3 will be determined and published by the Commission by 30 September 2010.
How will the emission cap beyond phase 3 be determined?
The linear factor of 1.74% used to determine the phase 3 cap will continue to apply beyond the end of the trading period in 2020 and will determine the cap for the fourth trading period (2021 to 2028) and beyond. It may be revised by 2025 at the latest. In fact, significant emission reductions of 60%-80% compared to 1990 will be necessary by 2050 to reach the strategic objective of limiting the global average temperature increase to not more than 2°C above pre-industrial levels.
An EU-wide cap on emission allowances will be determined for each individual year. Will this reduce flexibility for the installations concerned?
No, flexibility for installations will not be reduced at all. In any year, the allowances to be auctioned and distributed have to be issued by the competent authorities by 28 February. The last date for operators to surrender allowances is 30 April of the year following the year in which the emissions took place. So operators receive allowances for the current year before they have to surrender allowances to cover their emissions for the previous year. Allowances remain valid throughout the trading period and any surplus allowances can now be "banked" for use in subsequent trading periods. In this respect nothing will change.
The system will remain based on trading periods, but the third trading period will last eight years, from 2013 to 2020, as opposed to five years for the second phase from 2008 to 2012.
For the second trading period Member States generally decided to allocate equal total quantities of allowances for each year. The linear decrease each year from 2013 will correspond better to expected emissions trends over the period.
What are the tentative annual ETS cap figures for the period 2013 to 2020?
The tentative annual cap figures are as follows:
These figures are based on the scope of the ETS as applicable in phase 2 (2008 to 2012), and the Commission's decisions on the national allocation plans for phase 2, amounting to 2083 million tonnes. These figures will be adjusted for several reasons. Firstly, adjustment will be made to take into account the extensions of the scope in phase 2, provided that Member States substantiate and verify their emissions accruing from these extensions. Secondly, adjustment will be made with respect to further extensions of the scope of the ETS in the third trading period. Thirdly, any opt-out of small installations will lead to a corresponding reduction of the cap. Fourthly, the figures do not take account of the inclusion of aviation, nor of emissions from Norway, Iceland and Liechtenstein.
Will allowances still be allocated for free?
Sim. Industrial installations will receive transitional free allocation. And in those Member States that are eligible for the optional derogation, power plants may, if the Member State so decides, also receive free allowances. It is estimated that at least half of the available allowances as of 2013 will be auctioned.
While the great majority of allowances has been allocated free of charge to installations in the first and second trading periods, the Commission proposed that auctioning of allowances should become the basic principle for allocation. This is because auctioning best ensures the efficiency, transparency and simplicity of the system and creates the greatest incentive for investments in a low-carbon economy. It best complies with the “polluter pays principle” and avoids giving windfall profits to certain sectors that have passed on the notional cost of allowances to their customers despite receiving them for free.
How will allowances be handed out for free?
By 31 December 2010, the Commission will adopt EU-wide rules, which will be developed under a committee procedure (“Comitology”). These rules will fully harmonise allocations and thus all firms across the EU with the same or similar activities will be subject to the same rules. The rules will ensure as far as possible that the allocation promotes carbon-efficient technologies. The adopted rules provide that to the extent feasible, allocations are to be based on so-called benchmarks, e. g. a number of allowances per quantity of historical output. Such rules reward operators that have taken early action to reduce greenhouse gases, better reflect the polluter pays principle and give stronger incentives to reduce emissions, as allocations would no longer depend on historical emissions. All allocations are to be determined before the start of the third trading period and no ex-post adjustments will be allowed.
Which installations will receive free allocations and which will not? How will negative impacts on competitiveness be avoided?
Taking into account their ability to pass on the increased cost of emission allowances, full auctioning is the rule from 2013 onwards for electricity generators. However, Member States who fulfil certain conditions relating to their interconnectivity or their share of fossil fuels in electricity production and GDP per capita in relation to the EU-27 average, have the option to temporarily deviate from this rule with respect to existing power plants. The auctioning rate in 2013 is to be at least 30% in relation to emissions in the first period and has to increase progressively to 100% no later than 2020. If the option is applied, the Member State has to undertake to invest in improving and upgrading of the infrastructure, in clean technologies and in diversification of their energy mix and sources of supply for an amount to the extent possible equal to the market value of the free allocation.
In other sectors, allocations for free will be phased out progressively from 2013, with Member States agreeing to start at 20% auctioning in 2013, increasing to 70% auctioning in 2020 with a view to reaching 100% in 2027. However, an exception will be made for installations in sectors that are found to be exposed to a significant risk of 'carbon leakage'. This risk could occur if the EU ETS increased production costs so much that companies decided to relocate production to areas outside the EU that are not subject to comparable emission constraints. The Commission will determine the sectors concerned by 31 December 2009. To do this, the Commission will assess inter alia whether the direct and indirect additional production costs induced by the implementation of the ETS Directive as a proportion of gross value added exceed 5% and whether the total value of its exports and imports divided by the total value of its turnover and imports exceeds 10%. If the result for either of these criteria exceeds 30%, the sector would also be considered to be exposed to a significant risk of carbon leakage. Installations in these sectors would receive 100% of their share in the annually declining total quantity of allowances for free. The share of these industries' emissions is determined in relation to total ETS emissions in 2005 to 2007.
CO 2 costs passed on in electricity prices could also expose certain installations to the risk of carbon leakage. In order to avoid such risk, Member States may grant a compensation with respect to such costs. In the absence of an international agreement on climate change, the Commission has undertaken to modify the Community guidelines on state aid for environmental protection in this respect.
Under an international agreement which ensures that competitors in other parts of the world bear a comparable cost, the risk of carbon leakage may well be negligible. Therefore, by 30 June 2010, the Commission will carry out an in-depth assessment of the situation of energy-intensive industry and the risk of carbon leakage, in the light of the outcome of the international negotiations and also taking into account any binding sectoral agreements that may have been concluded. The report will be accompanied by any proposals considered appropriate. These could potentially include maintaining or adjusting the proportion of allowances received free of charge to industrial installations that are particularly exposed to global competition or including importers of the products concerned in the ETS.
Who will organise the auctions and how will they be carried out?
Member States will be responsible for ensuring that the allowances given to them are auctioned. Each Member State has to decide whether it wants to develop its own auctioning infrastructure and platform or whether it wants to cooperate with other Member States to develop regional or EU-wide solutions. The distribution of the auctioning rights to Member States is largely based on emissions in phase 1 of the EU ETS, but a part of the rights will be redistributed from richer Member States to poorer ones to take account of the lower GDP per head and higher prospects for growth and emissions among the latter. It is still the case that 10% of the rights to auction allowances will be redistributed from Member States with high per capita income to those with low per capita income in order to strengthen the financial capacity of the latter to invest in climate friendly technologies. However, a provision has been added for another redistributive mechanism of 2% to take into account Member States which in 2005 had achieved a reduction of at least 20% in greenhouse gas emissions compared with the reference year set by the Kyoto Protocol. Nine Member States benefit from this provision.
Any auctioning must respect the rules of the internal market and must therefore be open to any potential buyer under non-discriminatory conditions. By 30 June 2010, the Commission will adopt a Regulation (through the comitology procedure) that will provide the appropriate rules and conditions for ensuring efficient, coordinated auctions without disturbing the allowance market.
How many allowances will each Member State auction and how is this amount determined?
All allowances which are not allocated free of charge will be auctioned. A total of 88% of allowances to be auctioned by each Member State is distributed on the basis of the Member State's share of historic emissions under the EU ETS. For purposes of solidarity and growth, 12% of the total quantity is distributed in a way that takes into account GDP per capita and the achievements under the Kyoto-Protocol.
Which sectors and gases are covered as of 2013?
The ETS covers installations performing specified activities. Since the start it has covered, above certain capacity thresholds, power stations and other combustion plants, oil refineries, coke ovens, iron and steel plants and factories making cement, glass, lime, bricks, ceramics, pulp, paper and board. As for greenhouse gases, it currently only covers carbon dioxide emissions, with the exception of the Netherlands, which has opted in emissions from nitrous oxide.
As from 2013, the scope of the ETS will be extended to also include other sectors and greenhouse gases. CO 2 emissions from petrochemicals, ammonia and aluminium will be included, as will N2O emissions from the production of nitric, adipic and glyocalic acid production and perfluorocarbons from the aluminium sector. The capture, transport and geological storage of all greenhouse gas emissions will also be covered. These sectors will receive allowances free of charge according to EU-wide rules, in the same way as other industrial sectors already covered.
As of 2012, aviation will also be included in the EU ETS.
Will small installations be excluded from the scope?
A large number of installations emitting relatively low amounts of CO 2 are currently covered by the ETS and concerns have been raised over the cost-effectiveness of their inclusion. As from 2013, Member States will be allowed to remove these installations from the ETS under certain conditions. The installations concerned are those whose reported emissions were lower than 25 000 tonnes of CO 2 equivalent in each of the 3 years preceding the year of application. For combustion installations, an additional capacity threshold of 35MW applies. In addition Member States are given the possibility to exclude installations operated by hospitals. The installations may be excluded from the ETS only if they will be covered by measures that will achieve an equivalent contribution to emission reductions.
How many emission credits from third countries will be allowed?
For the second trading period, Member States allowed their operators to use significant quantities of credits generated by emission-saving projects undertaken in third countries to cover part of their emissions in the same way as they use ETS allowances. The revised Directive extends the rights to use these credits for the third trading period and allows a limited additional quantity to be used in such a way that the overall use of credits is limited to 50% of the EU-wide reductions over the period 2008-2020. For existing installations, and excluding new sectors within the scope, this will represent a total level of access of approximately 1.6 billion credits over the period 2008-2020. In practice, this means that existing operators will be able to use credits up to a minimum of 11% of their allocation during the period 2008-2012, while a top-up is foreseen for operators with the lowest sum of free allocation and allowed use of credits in the 2008-2012 period. New sectors and new entrants in the third trading period will have a guaranteed minimum access of 4.5% of their verified emissions during the period 2013-2020. For the aviation sector, the minimum access will be 1.5%. The precise percentages will be determined through comitology.
These projects must be officially recognised under the Kyoto Protocol’s Joint Implementation (JI) mechanism (covering projects carried out in countries with an emissions reduction target under the Protocol) or Clean Development Mechanism (CDM) (for projects undertaken in developing countries). Credits from JI projects are known as Emission Reduction Units (ERUs) while those from CDM projects are called Certified Emission Reductions (CERs).
On the quality side only credits from project types eligible for use in the EU trading scheme during the period 2008-2012 will be accepted in the period 2013-2020. Furthermore, from 1 January 2013 measures may be applied to restrict the use of specific credits from project types. Such a quality control mechanism is needed to assure the environmental and economic integrity of future project types.
To create greater flexibility, and in the absence of an international agreement being concluded by 31 December 2009, credits could be used in accordance with agreements concluded with third countries. The use of these credits should however not increase the overall number beyond 50% of the required reductions. Such agreements would not be required for new projects that started from 2013 onwards in Least Developed Countries.
Based on a stricter emissions reduction in the context of a satisfactory international agreement , additional access to credits could be allowed, as well as the use of additional types of project credits or other mechanisms created under the international agreement. However, once an international agreement has been reached, from January 2013 onwards only credits from projects in third countries that have ratified the agreement or from additional types of project approved by the Commission will be eligible for use in the Community scheme.
Will it be possible to use credits from carbon ‘sinks’ like forests?
No. Before making its proposal, the Commission analysed the possibility of allowing credits from certain types of land use, land-use change and forestry (‘LULUCF’) projects which absorb carbon from the atmosphere. It concluded that doing so could undermine the environmental integrity of the EU ETS, for the following reasons:
LULUCF projects cannot physically deliver permanent emissions reductions. Insufficient solutions have been developed to deal with the uncertainties, non-permanence of carbon storage and potential emissions 'leakage' problems arising from such projects. The temporary and reversible nature of such activities would pose considerable risks in a company-based trading system and impose great liability risks on Member States. The inclusion of LULUCF projects in the ETS would require a quality of monitoring and reporting comparable to the monitoring and reporting of emissions from installations currently covered by the system. This is not available at present and is likely to incur costs which would substantially reduce the attractiveness of including such projects. The simplicity, transparency and predictability of the ETS would be considerably reduced. Moreover, the sheer quantity of potential credits entering the system could undermine the functioning of the carbon market unless their role were limited, in which case their potential benefits would become marginal.
The Commission, the Council and the European Parliament believe that global deforestation can be better addressed through other instruments. For example, using part of the proceeds from auctioning allowances in the EU ETS could generate additional means to invest in LULUCF activities both inside and outside the EU, and may provide a model for future expansion. In this respect the Commission has proposed to set up the Global Forest Carbon Mechanism that would be a performance-based system for financing reductions in deforestation levels in developing countries.
Besides those already mentioned, are there other credits that could be used in the revised ETS?
Sim. Projects in EU Member States which reduce greenhouse gas emissions not covered by the ETS could issue credits. These Community projects would need to be managed according to common EU provisions set up by the Commission in order to be tradable throughout the system. Such provisions would be adopted only for projects that cannot be realised through inclusion in the ETS. The provisions will seek to ensure that credits from Community projects do not result in double-counting of emission reductions nor impede other policy measures to reduce emissions not covered by the ETS, and that they are based on simple, easily administered rules.
Are there measures in place to ensure that the price of allowances won't fall sharply during the third trading period?
A stable and predictable regulatory framework is vital for market stability. The revised Directive makes the regulatory framework as predictable as possible in order to boost stability and rule out policy-induced volatility. Important elements in this respect are the determination of the cap on emissions in the Directive well in advance of the start of the trading period, a linear reduction factor for the cap on emissions which continues to apply also beyond 2020 and the extension of the trading period from 5 to 8 years. The sharp fall in the allowance price during the first trading period was due to over-allocation of allowances which could not be “banked” for use in the second trading period. For the second and subsequent trading periods, Member States are obliged to allow the banking of allowances from one period to the next and therefore the end of one trading period is not expected to have any impact on the price.
A new provision will apply as of 2013 in case of excessive price fluctuations in the allowance market. If, for more than six consecutive months, the allowance price is more than three times the average price of allowances during the two preceding years on the European market, the Commission will convene a meeting with Member States. If it is found that the price evolution does not correspond to market fundamentals, the Commission may either allow Member States to bring forward the auctioning of a part of the quantity to be auctioned, or allow them to auction up to 25% of the remaining allowances in the new entrant reserve.
The price of allowances is determined by supply and demand and reflects fundamental factors like economic growth, fuel prices, rainfall and wind (availability of renewable energy) and temperature (demand for heating and cooling) etc. A degree of uncertainty is inevitable for such factors. The markets, however, allow participants to hedge the risks that may result from changes in allowances prices.
Are there any provisions for linking the EU ETS to other emissions trading systems?
Sim. One of the key means to reduce emissions more cost-effectively is to enhance and further develop the global carbon market. The Commission sees the EU ETS as an important building block for the development of a global network of emission trading systems. Linking other national or regional cap-and-trade emissions trading systems to the EU ETS can create a bigger market, potentially lowering the aggregate cost of reducing greenhouse gas emissions. The increased liquidity and reduced price volatility that this would entail would improve the functioning of markets for emission allowances. This may lead to a global network of trading systems in which participants, including legal entities, can buy emission allowances to fulfil their respective reduction commitments.
The EU is keen to work with the new US Administration to build a transatlantic and indeed global carbon market to act as the motor of a concerted international push to combat climate change.
While the original Directive allows for linking the EU ETS with other industrialised countries that have ratified the Kyoto Protocol, the new rules allow for linking with any country or administrative entity (such as a state or group of states under a federal system) which has established a compatible mandatory cap-and-trade system whose design elements would not undermine the environmental integrity of the EU ETS. Where such systems cap absolute emissions, there would be mutual recognition of allowances issued by them and the EU ETS.
What is a Community registry and how does it work?
Registries are standardised electronic databases ensuring the accurate accounting of the issuance, holding, transfer and cancellation of emission allowances. As a signatory to the Kyoto Protocol in its own right, the Community is also obliged to maintain a registry. This is the Community Registry, which is distinct from the registries of Member States. Allowances issued from 1 January 2013 onwards will be held in the Community registry instead of in national registries.
Will there be any changes to monitoring, reporting and verification requirements?
The Commission will adopt a new Regulation (through the comitology procedure) by 31 December 2011 governing the monitoring and reporting of emissions from the activities listed in Annex I of the Directive. A separate Regulation on the verification of emission reports and the accreditation of verifiers should specify conditions for accreditation, mutual recognition and cancellation of accreditation for verifiers, and for supervision and peer review as appropriate.
What provision will be made for new entrants into the market?
Five percent of the total quantity of allowances will be put into a reserve for new installations or airlines that enter the system after 2013 (“new entrants”). The allocations from this reserve should mirror the allocations to corresponding existing installations.
A part of the new entrant reserve, amounting to 300 million allowances, will be made available to support the investments in up to 12 demonstration projects using the carbon capture and storage technology and demonstration projects using innovative renewable energy technologies. There should be a fair geographical distribution of the projects.
In principle, any allowances remaining in the reserve shall be distributed to Member States for auctioning. The distribution key shall take into account the level to which installations in Member States have benefited from this reserve.
What has been agreed with respect to the financing of the 12 carbon capture and storage demonstration projects requested by a previous European Council?
The European Parliament's Environment Committee tabled an amendment to the EU ETS Directive requiring allowances in the new entrant reserve to be set aside in order to co-finance up to 12 demonstration projects as requested by the European Council in spring 2007. This amendment has later been extended to include also innovative renewable energy technologies that are not commercially viable yet. Projects shall be selected on the basis of objective and transparent criteria that include requirements for knowledge sharing. Support shall be given from the proceeds of these allowances via Member States and shall be complementary to substantial co-financing by the operator of the installation. No project shall receive support via this mechanism that exceeds 15% of the total number of allowances (i. e. 45 million allowances) available for this purpose. The Member State may choose to co-finance the project as well, but will in any case transfer the market value of the attributed allowances to the operator, who will not receive any allowances.
A total of 300 million allowances will therefore be set aside until 2015 for this purpose.
What is the role of an international agreement and its potential impact on EU ETS?
When an international agreement is reached, the Commission shall submit a report to the European Parliament and the Council assessing the nature of the measures agreed upon in the international agreement and their implications, in particular with respect to the risk of carbon leakage. On the basis of this report, the Commission shall then adopt a legislative proposal amending the present Directive as appropriate.
For the effects on the use of credits from Joint Implementation and Clean Development Mechanism projects, please see the reply to question 20.
Quais são os próximos passos?
Member States have to bring into force the legal instruments necessary to comply with certain provisions of the revised Directive by 31 December 2009. This concerns the collection of duly substantiated and verified emissions data from installations that will only be covered by the EU ETS as from 2013, and the national lists of installations and the allocation to each one. For the remaining provisions, the national laws, regulations and administrative provisions only have to be ready by 31 December 2012.
The Commission has already started the work on implementation. For example, the collection and analysis of data for use in relation to carbon leakage is ongoing (list of sectors due end 2009). Work is also ongoing to prepare the Regulation on timing, administration and other aspects of auctioning (due by June 2010), the harmonised allocation rules (due end 2010) and the two Regulations on monitoring and reporting of emissions and verification of emissions and accreditation of verifiers (due end 2011).

Emission trading system traduction francais

♦ emission controls npl controles mpl de emisiones.
CO emission n. la emisión de CO CO2 emission n. la emisión de CO2 NOx emission n. la emisión de NOx allowance n. 1) la asignación, 2) el descuento trading n. el comercio tax allowance exp. desgravación fiscal housing allowance n. el subsidio de vivienda.
Índice alfabético.
Bem-vindo ao dicionário Collins Inglês-Espanhol. Digite a palavra que você procura na caixa de pesquisa acima. Os resultados incluirão palavras e frases do dicionário geral, bem como entradas do colaborativo.

Emission trading system traduction francais

→ Just a few streets away from the market.
→ There's a market on Fridays.
→ The foreign market was increasingly important.
→ the declining vehicle market.
the Russian market for personal computers le marché russe des ordinateurs personnels.
to be on the market [product, house] être sur le marché.
to put sth on the market [+product, house] mettre qch sur le marché.
→ putting more empty offices on the market.
to come onto the market [product, house] entrer sur le marché.
→ new medicines that have just come onto the market.
to price o. s. out of the market (=charge too much) se placer au-dessus des prix du marché.
→ many have priced themselves out of the market with outrageous charges.
to be in the market for sth [+product] être acheteur (-euse) de qch.
→ If you're in the market for a new radio, you'll see the new models are very different.
on the open market en vente libre.
to play the market jouer à la Bourse.
→ The felt-tip pen was first marketed by a Japanese firm.
→ No wonder sales are poor, they don't market their products properly.
to market sth as commercialiser qch comme.
→ if a soap is marketed as an anti-acne product.
n (STOCK EXCHANGE) marché m baissier.
→ There is a thriving black market for jeans.
on the black market au marché noir.
→ There is a plentiful supply of guns on the black market.
→ You can buy them easily on the black market.
n marché m haussier, marché m à la hausse.
→ accusations that Miss World is sexist and a cattle market.
formerly, in Europe the Common Market le Marché commun.
→ Spain and Portugal are joining the Common Market.
→ . the creation of a free market.
[system, ideology] de marché.
→ Analysts say the housing market could pick up soon.
→ The job market is saturated with graduates.
to be on the job market être sur le marché du travail.
→ He soon found himself back on the job market.
→ The longer people have been unemployed, the harder it is for them to compete in the labour market.
adj dicté (e) par le marché.
n leader m sur le marché, leader m du marché.
We're one of the market leaders in the fashion industry. Nous sommes l'un des leaders sur le marché de la mode., Nous sommes l'un des leaders du marché de la mode.
adj dicté (e) par le marché.
→ Do a bit of market research to find out what people actually want.
to gain market share gagner des parts de marché.
→ Ford has been gaining market share this year at the expense of GM.
[product, brand, paperback, car] grand public inv.
[appeal] pour le grand public.
→ a racy newspaper with mass-market appeal.
→ They use that money to put into the money markets at a profit.
→ both Taunton Cider and William Grant & Son are aggressively pursuing drinks for "ladies" as a profitable niche market.
→ today's superconductor applications are limited to a few niche markets. ;
a profitable niche market un créneau rentable.
the Single European Market le marché unique européen.
→ We decided that we needed to change our target market from the over-45s to the 35-45s.
stock market trading n. opérations en bourse stock market trading tax n. impôt de Bourse trading market n. marché animé cash trading market n. marché de produits cash pre adv. pré pre export adj. pré-export pre paying pres. part prépayant.
Exemples et traductions en contexte.
Index alphabétique.
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Emission trading system traduction francais

[opinion, reason, number] personnel (le)
→ The Minister made it clear that this was her personal view and not that of the Government.
→ His personal habits made him difficult to live with.
He had resigned for personal reasons. Il avait démissionné pour raisons personnelles.
I'll give you my personal telephone number as well as my work one. Je vais vous donner mon numéro de téléphone personnel ainsi que celui de mon travail.
→ People don't mind paying a bit extra for personal attention.
→ Newspapers resorted to personal abuse.
→ Myra was attacking something I'd written and her attack got a little personal.
nothing personal! n'y voyez rien de personnel !, ça n'a rien de personnel !
→ I'm sure the meal's lovely. I just don't eat meat, nothing personal!
[contact, visit] personnel (le)
→ a business that requires a great deal of personal contact.
→ a personal visit from the King.
a personal interview un entretien.
→ The victim's mother made a personal appeal for anybody with information to contact the police.
→ We sacrifice our personal lives to our work.
→ I'd like to change the subject because I think we're getting too personal.
n petite annonce f personnelle.
→ books, furniture and other personal belongings.
→ The president arrived, followed by his personal bodyguard.
n (for the elderly) aide f aux personnes âgées.
→ the commitment to delivering free personal care for the elderly.
(for the infirm) aide f aux personnes handicapées.
to have a personal chair être titulaire d'une chaire.
n hygiène f personnelle, propreté f personnelle.
→ Please fill in your personal details on the attached form.
→ . devices such as mobile phones and personal digital assistants.
→ Refugees complain that soldiers steal their food and personal property.
npl relations fpl personnelles.
→ teaching young people about marriage and personal relationships.
n personne que l'on emploie pour faire les magasins personne que l'on emploie pour faire les magasins.
→ Engaging a personal shopper has to be the way forward for all women.
→ I felt my body involuntarily stiffen against her invasion of my personal space.
to invade sb's personal space envahir l'espace vital de qn.
CO2 emission n. émission de CO2 carbon dioxide emissions exp. émissions de dioxyde de carbone [this way] exp. par là, de cette façon [to the point] adv. direct, directement shock [culinary term] v. plonger dans de l'eau froide/glacée pour arrêter la cuisson carbon emission n. émission de carbone plasma co2 n. CO2 plasmatique.
Exemples et traductions en contexte.
Index alphabétique.
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