www defra gov uk eu emissions trading scheme 2005 results for the summary sheet 1 executive introduction european union s ets commenced on january aim of this ambitious project was to set up largest in world as a key tool enabling achieve its kyoto protocol target 8 per cent below 1990 levels it uses market mechanism incentivise reduction greenhouse gas cost effective and economically efficient manner across europe over 12 000 installations emitting around 987 million tonnes carbon dioxide mtco 2 annually have entered each installation is now required monitor co surrender equivalent number allowances 30 april year paper summarises first begins by reporting factors that influenced sector surpluses deficits then goes outline other member states
