Phases

Events

Time

The first phases: 2005.01.01-2007.12.31

The European Union’s 2005 emissions report and the explicit first phase of quotas cannot be used in phase 2.

The end of April to early May 2006.

The European Union’s 2006 emissions report.

On April 2, 2007

The first phase ends with a large surplus of quotas.

In early December 2007

The second phases: 2008.01.01-2012.12.31

The European Union’s 2007 emissions report.

In early April 2012

The global financial crisis broke out.

In the middle of September 2008

The third phases: 2013.01.01-2020.12.31

The European Union’s 2012 emissions report.

In early April 2013

The European Union’s 2013 emissions report.

In early April 2014

The European Union’s 2014 emissions report.

In early April 2015

“The Paris agreements” were signed.

On December 14, 2015