UK Emissions Trading Scheme
The UK Emissions Trading Scheme was launched in March 2002 and ended in December 2006. The Scheme was participated in by 33 organisations (known as “direct participants”) who volunteered to reduce their emissions against 1998-2000 levels. The Scheme was also open to 6000 companies with Climate Change Agreements which set out energy-related targets. Companies meeting their target receive a discount from the Climate Change Levy, which is a tax on the use of energy by business.