Overall Emission Reductions
According to the European Commission, in 2010 greenhouse gas emissions from big emitters covered by the EU ETS had decreased by an average of more than 17,000 tonnes per installation from 2005, a decrease of more than 8% since 2005. .
According to UBS Investment Research, the EU ETS cost $287 billion through to 2011 and had an "almost zero impact" on the volume of overall emissions in the European Union and the money could have resulted in more than a 40% reduction in emissions if it had been used in a targeted way, e.g., to upgrade power plants.
Read more about this topic: European Union Emission Trading Scheme
Famous quotes containing the words emission and/or reductions:
“Approximately 80% of our air pollution stems from hydrocarbons released by vegetation, so let’s not go overboard in setting and enforcing tough emission standards from man-made sources.”
—Ronald Reagan (b. 1911)
“The work was like peeling an onion. The outer skin came off with difficulty ... but in no time you’d be down to its innards, tears streaming from your eyes as more and more beautiful reductions became possible.”
—Edward Blishen (b. 1920)