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Other markets include the Dutch NOx, UK Emissions Trading Scheme (UK ETS) and the European market for Renewable Energy Certificates (RECs).
In January 2005 the Dutch government introduced the NOx cap and trade system, comparable with the European cap and trade system for CO2, a local market with approximately 200 installations across the Netherlands.
The UK Emissions Trading Scheme (UK ETS) was developed as the world's first greenhouse gas emission trading scheme and helped UK organisations gain experience at trading prior to the introduction of the European Union Emission Trading Scheme (EU ETS). The scheme includes 6,000 companies with Climate Change Agreements. Climate Change Agreement companies can use the UK Emissions Trading Scheme either to buy allowances to meet their targets, or to sell any over-achievement of their targets.
Renewable Obligation Certificates (ROC), introduced in 2002 are certificates issued to accredited generators for eligible renewable electricity generated in the United Kingdom. Electricity suppliers are required to supply 15% of their output from eligible renewable sources. They can be sold or traded on exchanges.
The European Commission has set ambitious targets to increase the proportion of electricity generated from renewable sources. The EU requirement for Guarantees of Origin (GOOs) aims to stimulate cross border trade, competition and increase renewable energy production. Several European countries have regulated, compatible green certificate systems that enable import, export and trading of Renewable Energy Certificates (RECs).
Shell is active in all these markets.
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