According to the European Union Registry, emissions of greenhouse gases from installations participating in the EU Emissions Trading System (EU ETS) have decreased by at least 3% in 2013. Verified emissions of greenhouse gases from stationary installations amounted to 1895 Mt CO2-equivalent in 2013. This represents a 3% drop, although there are some methodological challenges in assessing with certainty the change in emissions compared to 2012 due to the extension in scope of the EU ETS for the third trading period. The cumulative surplus in emission allowances increased further to more than 2.1 billion for the 2013 compliance year from almost 2 billion at the end of 2012. The 2013 figure takes into account the exchange of international credits into allowances, sales of phase 3 allowances to generate funds for the NER300 programme to support innovative low-carbon technologies, allowances allocated for 2013 and auctioning of phase 3 allowances in 2013. It is expected that in 2014 the surplus will start to shrink as the implementation of back-loading has started in the first quarter of 2014.
The EU ETS covers more than 12,000 power plants and manufacturing installations in the 28 EU member states, Iceland, Norway and Liechtenstein, as well as emissions from airlines flying between European airports. 2013 marked the start of the third ETS trading period (phase 3), which runs until 2020.
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