Bidding to join the UK Emissions Trading Scheme is now complete. How will it work and how far does it go?
The collapse of the 500 billion tonne Larsen B ice shelf from the Antartic continent is the strongest warning yet of global warming in the area. The disintegration of the 3250 km2, 200 m thick chunk of ice has been predicted for some time, however the speed at which it finally happened came as a surprise even to scientist from the British Antartic Survey.

It is timely then that the UK government has announced a list of the organisations taking part in its Emissions Trading Scheme (ETS), which is due to kick-off on 2 April.

The scheme, often referred to as carbon trading due to CO2 being the main greenhouse gas, is part of the UK Climate Change Programme and requires participants to sign-up to binding emission reduction targets over a five year period. Participants will be able to buy and sell their emissions quotas so as to meet their target at minimum cost – thereby having the choice of reducing emissions themselves or alternatively buying surplus allowances from other participating organisations.

Allowances can also be saved for use against future annual targets in the scheme, and a company's own reductions can be banked beyond the end of the scheme and into the Kyoto commitment period, 2008 – 2012.

The government believes the national scheme will provide companies with invaluable experience of emissions trading at a national level, putting the UK in a good position when global