After a week of political drama, the European parliament approved rules for the third phase of the EU ETS on Thursday, endorsing EU leaders' "final compromise" reached on 12 December. ENDS offers the following summary of key points in the finalised EU ETS directive:
* The number of emission allowances will be capped so as to deliver a 21 per cent cut in industrial emissions during the whole period 2013 to 2020 compared with 2005. The annual EU ETS emissions cap will fall linearly by 1.74 per cent each year. This factor will be reviewed by 2025.
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