European Commission, Report on the functioning of the European carbon market, 2020-11-18, Introduction ([Internet, 2022-08-10](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52020DC0740&rid=3))
The European Emissions Trading System (EU ETS) has been the cornerstone of the EU's strategy for reducing greenhouse gas (GHG) emissions from industry, electricity and heat production since 2005. It contributes significantly to achieving the overall EU target of cutting GHG emissions by 20% from 1990 levels by 2020 [...].