India assisting EU to combat Climate Change

India is assisting European Union countries to meet their targets in reducing greenhouse gas emissions through the Energy Trading System (ETS). The protocol was set up in 1997 to reduce emissions of greenhouse gases that are warming the earth’s atmosphere and leading to climate change.

The European Union Emission Trading Scheme (EU ETS) is the largest multinational emissions trading scheme in the world and is a major pillar of EU climate policy.

The Clean Development Mechanism (CDM) is an arrangement under the Kyoto Protocol allowing industrialized countries with a greenhouse gas reduction commitment to invest in projects that reduce emissions in developing countries as an alternative to more expensive emission reductions in their own countries.