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CHAPTER I

GENERAL PROVISIONS

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Article 1

Subject matter

This Directive establishes a ?M9   system ? for greenhouse gas emission allowance trading within the ?M9   Union ? (hereinafter referred to as the ‘ ?M9   EU ETS ? ’) in order to promote reductions of greenhouse gas emissions in a cost-effective and economically efficient manner.

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This Directive also provides for the reductions of greenhouse gas emissions to be increased so as to contribute to the levels of reductions that are considered scientifically necessary to avoid dangerous climate change.

This Directive also lays down provisions for assessing and implementing a stricter ?M9   Union ? reduction commitment exceeding 20 %, to be applied upon the approval by the ?M9   Union ? of an international agreement on climate change leading to greenhouse gas emission reductions exceeding those required in Article 9, as reflected in the 30 % commitment endorsed by the European Council of March 2007.