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The European Emissions Trading scheme is the first international trading system of CO2 emissions in the world. It will cover all 25 EU member states, affecting some 12,000 to 15,000 installations. The scheme will be implemented in two phases: 2005-07 and 2008-12, with the latter coinciding with the first commitment period under the international Kyoto Protocol.
The first period will cover such sectors as utilities, refineries, cement, glass, ceramics and the pulp and paper industries.
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