Emission trading system in place to achieve pledge (30% reduction below BAU by 2020) and the INCD target (37% reduction against BAU by 2030). The current ETS with the target year 2020 covers all installations in the industrial and power sectors with annual emissions higher than 25 ktCO2e (60% of the total emissions according to EDF and IEATA (2015)). The ETS system does cover both direct and indirect emissions (emissions electricity use). In Phase I of the ETS (2015–2017) the absolute emissions cap will decrease from 573 MtCO2ee in 2015, to 562 MtCO2ee in 2016 and 551 MtCO2ee in 2017 (Carbon Market Watch, 2015).
The ETS covers 610 of the country’s largest emitters, which account for ~70% of national GHG emissions. It covers direct emissions of six Kyoto gases, as well as indirect emissions from electricity consumption.
- No reduction until 2018
- 2018 - 2030 (planned) 37% reduction relative to national BAU