The Environmental Markets have been established in the current business practice in the last decades with the objective to reduce green house gases, to increase the proportion of renewable energy sources in the electricity generation and to improve energy efficiency through different market based instruments set up on mandatory bases.
Those markets are today characterized by the emission trading market, the green energy market and the energy efficiency market.
The emission trading market is characterized by the European Union Emission Trading Scheme and the Flexible Mechanisms of the Kyoto Protocol.
The Green energy market is characterized by a green energy certificates market where the electricity produced from renewable sources "green certificates" is traded and sold separately from the physical electricity production
The energy efficiency market is a market limited for the moment to the Italian and French Market. The Energy Efficiency Certificates are issued to distributors or other operators active in the energy service sector that have achieved an energy consumption reduction through measure and projects for energy efficiency improvements. These certificates are traded between market participants for compliance reasons.
