F2CHAPTER IGENERAL PROVISIONS
Article 1Subject matter
This Directive establishes a F1system for greenhouse gas emission allowance trading within the F1Union (hereinafter referred to as the ‘F1EU ETS’) in order to promote reductions of greenhouse gas emissions in a cost-effective and economically efficient manner.
F3This Directive also provides for the reductions of greenhouse gas emissions to be increased so as to contribute to the levels of reductions that are considered scientifically necessary to avoid dangerous climate change.
This Directive also lays down provisions for assessing and implementing a stricter F1Union reduction commitment exceeding 20 %, to be applied upon the approval by the Union of an international agreement on climate change leading to greenhouse gas emission reductions exceeding those required in Article 9, as reflected in the 30 % commitment endorsed by the European Council of March 2007.
Inserted by Directive 2008/101/EC of the European Parliament and of the Council of 19 November 2008 amending Directive 2003/87/EC so as to include aviation activities in the scheme for greenhouse gas emission allowance trading within the Community (Text with EEA relevance).