uk euets meaning in oil and gas

united kingdom EU emissions trading scheme

The EU emissions trading scheme came into being in 2005, and is a cap and trade market mechanism for reducing CO2 emissions. The UK initiated its own trading scheme UKETS prior to this, and thus many UK sites were exempt from the EUETS until 2006 based on their participation in UKETS. UK EUETS may be a confused way of referring to the UKETS, or it may refer to the UKs participation in the EUETS