Press Release: Climate change: Commission sets out agenda for revising the EU emissions trading scheme from 2013

The European Commission has adopted a Communication setting out its agenda for revising the EU emissions trading scheme (EU ETS) in the light of experience gained since it began operating in January 2005. The Commission wants to promote the environmental impact of emission trading by expanding it to new sectors and gases and further its global application as a key tool to combat climate change. The review will also seek to give greater predictability to investors and strengthen harmonisation by streamlining how it is applied in the various Member States. These and other issues will be discussed extensively with stakeholders before the Commission makes a legislative proposal to revise the Emissions Trading Directive in the second half of 2007. The changes will take effect in 2013 at the start of the scheme’s third trading period. The EU ETS enables energy-intensive industry and power generators to reduce their greenhouse gas emissions cost effectively, and is stimulating emission-saving projects around the world.