Directive 2003/87/EC of the European Parliament and of the CouncilShow full title

Article 1 U.K. Subject matter

This Directive establishes a [F1 system] for greenhouse gas emission allowance trading within the [F1 Union] (hereinafter referred to as the ‘[F1 EU ETS]’) in order to promote reductions of greenhouse gas emissions in a cost-effective and economically efficient manner.

[F2 This 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 [F1 Union 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.]

Textual Amendments

F1 Substituted by Directive (EU) 2018/410 of the European Parliament and of the Council of 14 March 2018 amending Directive 2003/87/EC to enhance cost-effective emission reductions and low-carbon investments, and Decision (EU) 2015/1814 (Text with EEA relevance).

F2 Inserted by Directive 2009/29/EC of the European Parliament and of the Council of 23 April 2009 amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading scheme of the Community (Text with EEA relevance).