European Union Emissions Trading Scheme
The first succesful cap-and-trade system for carbon emissions, allowing the European Union to reduce their carbon emissions by a greater degree than necessary under the Kyoto Treaty. They were meant to reduce emissions by 8 percent during the 2008-2012 span, but they are on track to reduce emissions by more than 13 percent.
Backgrounders & Briefs
Economic Effect of Cap-and-Trade on Europe is "Imperceptible"
European Emissions Trading Scheme is a succesful carbon cap-and-trade system that has had an "imperceptibleā negative impact on the European economy.