Increased awareness and concern on the effects of global warming has prompted society to find ways to minimise the effects of gas emissions on climate changes.
In order to control pollution, certain countries – including Romania, have agreed to the United Nations Framework on Climatic Change, approved by Council Decision 94/69/EC and to the Kyoto Protocol, approved by Council Decision 2002/358/EC. Both of these agreements aim to reduce greenhouse gas emissions.
Every state which is a party to Kyoto Protocol is entitled to produce a certain quantity of greenhouse gas emissions with the strict observance of the limits (caps) set out in it.
Such caps on gas emissions are allocated both at the national level, and at the level of each relevant operator by means of allowances. Allowances are defined by law as the documents granting...