The European Union,which had adopted the Kyoto Protocol,adopted a __________,which is a market-based system that limits the amount of carbon dioxide that companies are allowed to emit.

Question

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The cap-and-trade system is a market-based mechanism adopted by the European Union to limit the amount of carbon dioxide that companies are allowed to emit. Under this system, a cap is set on the total amount of emissions allowed, and companies are issued permits that allow them to emit a certain amount of greenhouse gases. The companies can buy and sell these permits in a market, which creates a financial incentive for them to reduce their emissions.

The European Union,which Had Adopted the Kyoto Protocol,adopted a __________,Which