VOL. XLV

No 15

15-April-2002

ENVIRONMENT

UK Opens WorldsFirst Emissions Trading Scheme

TheUK has become the worlds first country to establish anEmissions Trading Scheme, which opened in London on 2 April. The scheme will enable companies to sell theirexcess emission allowances or to purchase allowances if they exceed theirtarget levels of greenhouse gas emissions. A company can gain allowances if itproduces fewer emissions or invests in renewable energy. These allowances canbe sold to those...