What plan did Europe introduce in 2005 to help the region fight climate change?

Question

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In 2005, Europe introduced an emission trading scheme, also known as the European Union Emissions Trading Scheme (EU ETS), as a tool to help the region fight climate change. The scheme works by putting a cap on greenhouse gas emissions from industrial sectors and giving companies emissions allowances, which they can trade with each other. This incentivizes companies to reduce their emissions to stay within their allowances, while allowing more efficient companies to sell their unused allowances to less efficient ones.

What Plan Did Europe Introduce in 2005 to Help the Region