Climate Policy Acronyms Decoded

Q1. Under the EU Emissions Trading System (EU ETS), what penalty applies when an operator fails to surrender enough allowances for its excess emissions?
- €10 per tonne
- €50 per tonne
- €100 per tonne
- €500 per tonne
Answer: €100 per tonne
Q2. What is the main purpose of the Union Registry in the EU ETS?
- To record allowance ownership, transfers, verified emissions, and annual reconciliation
- To set the annual EU-wide emissions cap
- To calculate import duties on all goods entering the EU
- To issue national climate targets
Answer: To record allowance ownership, transfers, verified emissions, and annual reconciliation
Q3. What does CBAM stand for, and what problem is it designed to address?
- Carbon Border Adjustment Mechanism, designed to reduce the risk of carbon leakage
- Carbon Budget Allocation Measure, designed to fund renewable electricity
- Climate Benefits and Mitigation, designed to regulate aviation
- Carbon-Based Allowance Market, designed to replace the EU ETS
Answer: Carbon Border Adjustment Mechanism, designed to reduce the risk of carbon leakage
Q4. In the definitive phase of CBAM, what do EU importers of covered goods buy and surrender for the goods' embedded emissions?
- CBAM certificates
- EU ETS allowances only
- Nationally determined contributions
- Import licences only
Answer: CBAM certificates

Climate Policy Acronyms Decoded

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