Znaczenie i rola unijnego rynku handlu uprawnieniami do emisji (EU ETS) w dążeniu UE do neutralności klimatycznej

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THE IMPORTANCE AND ROLE OF THE EU EMISSIONS TRADING MARKET (EU ETS) IN THE EU’S PURSUIT OF CLIMATE NEUTRALITY

The most important contemporary global challenges include reducing greenhouse gas emissions, which significantly contribute to deepening climate change. In economic analysis, the effects of pollutant emissions are defined as negative externalities that reduce the level of social welfare. The solution that is used in environmental protection policies in various countries, to internalize external costs related to greenhouse gas emissions, is the carbon dioxide emission allowance market. Trading in tradable emission allowances helps to achieve optimal emission levels in a given area. The EU Emissions Trading Scheme, which has been operating in the EU since 2005, is the basis for the world’s largest carbon market to date. This article aims to present the importance and role of the European Emissions Trading System (EU ETS) in the EU’s pursuit of achieving the goal of climate neutrality by 2050. It also examines the current effectiveness of the EU ETS system as a tool to reduce pollutant emissions.