The EU then went ahead on its own, introducing its path breaking European Emission Trading System in the hope that Europe could lead by example.

c. Compliance pre trading and post trading system ( 200,000)

Several vehicles for offsetting GHG emissions exist such as purchasing emission credits from stand alone projects, from a carbon fund, or from an emission trading scheme.

But in Europe there is another option for raising revenues the European Union Emission Trading Scheme (ETS).

Developments in the multilateral trading system

Renewables in the international trading system

In a related development, the European Union Greenhouse Gas Emission Trading Scheme goes into effect on 1 January 2005.

The electronic order management and trading system will streamline trading operations across multiple trading desks, security types and time zones.

The EU s Emission Trading System remains the cornerstone of Europe s climate policy, but suffers from the unambitious 20 cap, as well as from the lack of complementary policies to increase its effectiveness

This requires modifying some of the rules governing its own internal carbon market, the EU Emission Trading Scheme (EU ETS).

b. Electronic order management and trading system ( 220,000)

The global trading system needs to be fair.

The consequences of the failure are already apparent the price of emission rights in the European Union Emission Trading System has fallen, which means that firms will have less incentive to reduce emissions now and less incentive to invest in innovations that will reduce emissions in the future.

The whole exclusion simply undermines the multilateral trading system.

39. Finally, the multilateral trading system must be strengthened.

These emission components are already reflected in the tax system for fossil fuels.

The best way to implement this strategy is to use a carbon credit trading system in the advanced countries, with each advanced country receiving a certain amount of carbon credits to determine its permissible emission levels.

IV. WORLD TRADE AND THE TRADING SYSTEM . 28 33 8

Non recurrent publications emerging economic spaces implications for developing countries and the international trading system (1994) and the Uruguay Round and the international trading system (1995).

Emission

Information on emission reduction units, certified emission reductions, temporary certified emission reductions, long term certified emission reductions, assigned amount units and removal units

Countries needed access to an equitable global financial and trading system.

The Americas was not part of the Afro Eurasian trading system.

1 Emission reduction units, certified emission reductions, including temporary certified emission reductions and long term certified emission reductions, assigned amount units and removal units.

Regional trading arrangements (RTAs) have assumed increasing importance and proliferated in recent years despite the strengthening of the multilateral trading system.

Emission factors

emission factors

The process of regional integration should contribute towards an open trading system

The transition to the new world trading system should be made smoothly.

The multilateral trading system should play an effective role in that process.

We also do not believe that regional trading blocs can be an adequate substitute for an equitable and orderly international trading system.

That would help create a stronger and more viable multilateral trading system that was responsive to changes in the international trading environment.

As if this weren t bad enough, the Commission is preparing an emission trading scheme for EU airlines, with 2004 as the base year for setting quotas.

1 Assigned amount units (AAUs), emission reduction units (ERUs), removal units (RMUs), certified emission reductions (CERs), including temporary certified emission reductions (tCERs) and long term certified emission reductions (lCERs).

This would contribute to a more equitable and non discriminatory multilateral trading system.

What is at stake is the very future of the multilateral trading system.

Purchasing a similar amount in the European Emissions Trading System would cost about 5.

It would also contribute to balance, predictability and equity in the multilateral trading system.

The world trading system remained inequitable, and some developed countries continued to practise protectionism.

Several delegations highlighted the increasing role of developing countries in the international trading system.

Of prime importance was helping Africa expand its participation in the world trading system.

Several delegations highlighted the increasing role of developing countries in the international trading system.

54. Difficult access to the world trading system is an enormous obstacle to development.

They called for efforts to combat protectionism and to strengthen the multilateral trading system.

A fair and open international trading system is, ideally, the basis of development activities.