Since the introduction of the European Union’s Emissions Trading System (ETS) in 2005, greenhouse gas (GHG) emissions from electricity, heat production and energy-intensive industries have fallen by around 43%, a figure that is well above the 21% target set in the EU ETS Directive (2003/87), reported the European Commission on Tuesday 26 October in a report on the functioning of the EU carbon market in 2020.
According to this document, which is based on data for 2020 and the first half of...