So, no one can say that the emissions trading system has failed.

So the global emissions trading system can be born from the bottom up.

Emissions trading systems work very well in theory but the reality is somewhat different.

This is also a discussion on the adjustment of the emissions trading system.

The emissions trading system is a case in point.

An important tool for achieving this is continued investment in the emissions trading system.

I can go along with the plan to set up an emissions trading system for aviation too, provided this meets a number of conditions.

In the north-east there is an emissions trading system regarding power generation.

An emissions trading system requires measurements at the level of operator or installation.

The same companies will also gain from the EU's emissions trading system.

We have also prepared in a prudent way the start of an emissions trading system in Europe.

We also need to implement our own commitments under Kyoto, and, with regard to that, the emissions trading system is very important.

Some states in the USA already have an emissions trading system.

I would like to say a few words about the so-called ‘over-allocation’ of allowances to installations that are covered by the emissions trading system.

First, it is clear that other policy instruments must be introduced alongside an emissions trading system to address the full climatic impact.

This is why Europe has adopted quite an avant-garde approach by supporting the idea of making air transport join the emissions trading system.

Aviation is the next sector which will be incorporated into the European Union's emissions trading system.

Ryanair has branded the European emissions trading system an 'eco-looney tax'.

Why on earth should this business join the emissions trading system, when it has good business reasons for saying that it does not want to?

For example, transition to a low-carbon world economy, by linking carbon markets to emissions trading systems, would be a move in the right direction.

So far, the only system in place is the emissions trading system for carbon dioxide. This would appear to be insufficient.

The emissions trading system is now facing criticism from several groups of advocates who usually take opposite sides: environmentalists and traders.

On the other hand, the directive should also ensure that the Union's peripheral regions are able to compete fairly in the emissions trading system.

America's regional emissions trading systems inspire hope.

It is absolutely essential to ensure the workability of the emissions trading system when it starts in January 2005.