1Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC (OJ 2003 L 275, p. 32), as amended by Directive 2004/101/EC of the European Parliament and of the Council of 27 October 2004 (OJ 2004 L 338, p. 18), establishes, as provided in Article 1 thereof, a scheme for greenhouse gas emission allowance trading within the European Community (‘the allowance trading scheme’), in order to promote reductions of greenhouse gas emissions, in particular carbon dioxide emissions, in a cost-effective and economically efficient manner.
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