Iceland will take part in the EU Emissions Trading Scheme after 2020, which currently regulates approximately 40% of Iceland’s emissions. Iceland will possibly take part in other European markets for emissions credits, as part of its intention to take part in collective delivery of post-2020 climate mitigation goals, but mitigation efforts are seen as coming primarily through domestic efforts. Iceland aims to be part of a collective delivery by European countries to reach a target of 40% reduction of greenhouse gas emissions by 2030 compared to 1990 levels.