The emissions produced by human activities have become a major global concern over the past few decades. These emissions contribute to the accumulation of greenhouse gases in the atmosphere, leading to climate change and its associated impacts such as rising sea levels, more frequent and severe weather events, and ecological disruptions. Governments, businesses, and individuals alike are now under pressure to reduce their emissions and transition towards more sustainable practices to mitigate the effects of climate change. As the world continues to grapple with this pressing issue, there is a need for collaborative efforts and innovative solutions to address the emissions challenge.
1. The emissions produced by human activities have become a major global concern over the past few decades.
2. These emissions contribute to the accumulation of greenhouse gases, leading to climate change and its associated impacts.
3. Governments, businesses, and individuals are under pressure to reduce their emissions and transition towards more sustainable practices.
4. The Emissions Trading System (ETS) is an internationally recognized market-based approach to reduce greenhouse gas emissions.
5. The ETS establishes a financial mechanism where companies can buy and sell emission allowances, creating an economic incentive for businesses to reduce their emissions and contribute to global efforts in mitigating climate change.
In 2019, global carbon dioxide emissions reached a record high of 36.7 billion metric tons.
The Emissions Trading System (ETS) is an internationally recognized market-based approach to reduce greenhouse gas emissions. It establishes a financial mechanism whereby companies can buy and sell emission allowances, with each allowance representing the right to emit one ton of carbon dioxide or its equivalent. By setting a cap on the total amount of emissions allowed, the ETS creates an economic incentive for businesses to reduce their emissions by implementing cleaner technologies or adopting more sustainable practices. This system aims to encourage industries to become more environmentally conscious and contribute to the global efforts in mitigating climate change.