Improved definition (EN only): key policy tool to ensure that countries reach their greenhouse reduction targets and emissions are cut where it costs least to do so.

key policy tool to ensure that Europe and other countries reach their greenhouse reduction targets, with the least cost, by changing pricing systems, essential for triggering the resource‑efficient green economy transformation process with the EU Emissions Trading Scheme(EU ETS) as the pillar of the future global carbon market

Based on EEA Report No 2/2014 "Resource-efficient green economy and EU policies", www.eea.europa.eu/publications/resourceefficient-green-economy-and-eu/download AND European Economic Area Joint Parliamentary Committee, Ref. 1079167 7 November 2007 “Report on Energy and Climate Change: Implications for the EEA” Co-rapporteurs: Mr Paul RÜBIG (PPE-DE, Austria) Mr Svein Roald HANSEN (Labour Party, Norway) http://www.europarl.europa.eu/meetdocs/2004_2009/documents/dv/deea20071114_/deea20071114_10.pdf [13/06/2016]

emissions trading scheme