Royal Dutch/Shell Group developed and used a pilot internal emissions trading system (STEPS) to gain experience and understanding in the use of and structure for emissions trading. The system, which ran from 2000 to 2002, allowed trading between a number of Group entities located in Annex 1 countries. The system covered over 33 million metric tons of CO2e from over 22 separate sites, accounting for almost two-thirds of Shell's developed country emissions or over one-third of its global emissions.
Shell has shifted emphasis from internal mechanisms to real external instruments and has established an Environmental Products Trading Business (EPTB). The Shell Group has entered the UK Emissions Trading System, and as a result, key Shell UK upstream production facilities now have a GHG emissions cap. Shell Trading, with Nuon, executed the first trade in EU CO2 allowances in February 2003.
The EPTB is also actively developing a CDM business for the Group.
To view the trading, JI, and CDM activities of all BELC members, visit What's Being Done in the Business Community [1] section of this site.
Links:
[1] http://www.pewclimate.org/what_s_being_done/in_the_business_community/trading.cfm