EU-ETS: From Tax Exemptions to Cap Exemptions

Abstract

In 1987 the Brundtland Commission put climate policy on the political agenda. One year later the Intergovernmental Panel on Climate Change (IPCC) was formed, and, then, the United Nations Framework Convention on Climate Change (UNFCCC), with the goal of stabilising the concentration of greenhouse gases (GHG) in the atmosphere, was adopted by most of the world’s governments before going into effect in 1994. The Convention has now been signed and ratified by 186 countries.