Emissions Trading Systems: Trajectories for Development

... in the EU is actively being emulated across the major regions of the world economy, including in China and potentially Russia. The main progress in developing the ETS framework was achieved by the EU, which launched the EU Emissions Trading System (EU ETS) in 2005 as the key pillar of its strategy for cutting carbon emissions. Today EU ETS is the largest carbon market in the world. The main idea behind the operation of the ETS system is that it allows companies that need to produce additional units ...