The objective of this project is to provide clarity on the legal nature of the allowances of the EU Emission Trading System (EU ETS) excluding the international carbon units (e.g. assigned amount units (AAUs), certified emission reductions (CERs), emission reduction units (ERUs)) pursuant to the Kyoto Protocol to the UN Framework Convention on Climate Change (UNFCCC).

The objective of this project is to provide clarity on the legal nature of the allowances traded in the the EU Emission Trading System. This exludes international carbon units (e.g. assigned amount units (AAUs), certified emission reductions (CERs), emission reduction units (ERUs)) pursuant to the Kyoto Protocol to the UN Framework Convention on Climate Change.