The United Nations Framework Convention on Climate Change describes emissions trading as "one of the three Kyoto mechanisms, by which an Annex I Party may transfer Kyoto Protocol units to or acquire units from another Annex I Party. An Annex I Party must meet specific eligibility requirements to participate in emissions trading."
Emissions trading schemes
Greenhouse gas emissions trading schemes, including those that are proposed or currently under discussion, are:
- European Union emissions trading scheme
- New Zealand - Climate Change (Emissions Trading and Renewable Preference) Bill
Airlines to be included in emissions trading
In May 2011, the EU announced that starting January 1, 2012, all airlines flying to Europe will be included in the Emissions Trading Scheme, forcing polluters to buy permits for each ton of carbon dioxide they emit above a certain cap. China's aviation authority opposes the measure, saying it will cost Chinese airlines 800 million yuan in the first year and more than triple that by 2020, and said Europe should adjust the ETS to reflect the differences between rich and poor countries. U.S. airlines also oppose inclusion in the ETS, but some of Europe's biggest airlines say the move is preferable to leaving airlines out, which would make them vulnerable to different environmental taxes from national governments. The U.S. industry group Air Transport Association of America is challenging the move in EU courts. EU officials argue that they took the step of including aviation in the ETS after years of fruitless debate within the United Nations about how to curb emissions from aviation.
- United Nations Framework Convention on Climate Change, "Glossary of climate change acronyms", United Nations Framework Convention on Climate Change website, accessed September 2008.
- Michael Szabo, "Factbox - Carbon Trading Schemes Around the World", Reuters September 11, 2008.
- Pete Harrison and Julien Toyer, "China threatens Airbus over EU carbon cap -sources" Reuters, May 20, 2011.
Related SourceWatch articles
- Accra Climate Change Talks 2008
- Carbon trading
- Clean Development Mechanism
- Emissions Trading
- Joint Implementation
- Kyoto Protocol
- United Nations Framework Convention on Climate Change
- Terry Macalister, "Industry accused of abusing EU's carbon trading scheme," The Guardian UK, 1/27/09
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