What is European Emission Trading Scheme in SAP EHS-CI - SAP Carbon Impact?

SAP Term: European Emission Trading Scheme

• Component: EHS-CI

• Component Name: SAP Carbon Impact

• Description: Scheme introduced by the European Commission in order to fulfill the overall reduction target from the Kyoto Protocol for GHG emissions.

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• Key Concepts: 
  The European Emission Trading Scheme (ETS) is a market-based mechanism designed to reduce greenhouse gas emissions in the European Union. It is the world's first and largest international carbon trading system, and it works by setting a cap on the total amount of emissions that can be released by participating countries. Companies that exceed their emissions cap must purchase allowances from other companies that have not used up their allowances. 
  
  How to use it: 
  The EHS-CI SAP Carbon Impact component is a tool that helps companies comply with the ETS. It allows companies to track their emissions and purchase allowances from other companies. It also provides information on current market prices for allowances, as well as guidance on how to optimize their emissions trading strategies. 
  
  Tips & Tricks: 
  When using the EHS-CI SAP Carbon Impact component, it is important to keep track of your emissions and allowances in order to ensure compliance with the ETS. Additionally, it is important to stay up-to-date on current market prices for allowances in order to maximize profits from trading. 
  
  Related Information: 
  For more information on the European Emission Trading Scheme, please visit the European Commission’s website: https://ec.europa.eu/clima/policies/ets_en