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The EU ETS is limited by a 'cap' on the number of emission allowances. Within the cap, companies receive or buy emission allowances, which they can trade as needed. The cap decreases every year, ensuring that total emissions fall.
Each allowance gives the holder the right to emit:
There are a number of great resources on the regulatory and practical aspects of the system – none better than the EU’s own:
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02003L0087-20230605
https://climate.ec.europa.eu/eu-action/transport/reducing-emissions-shipping-sector_en
https://climate.ec.europa.eu/eu-action/eu-emissions-trading-system-eu-ets/what-eu-ets_en
There is a little square in the middle of historic Brussels which recently became the center of antique shops and art galleries. It is called The Sablon Square. Actually it consists of two squares Grand Sablon in the Northwest and Petit Sablon in the Southwest divided by the Church of Our Blessed Lady of The Sablon. Back in 12th Century it was an unused open space surrounded by wetlands, grassland and sand and a friar made his home which turned out to a chapel in 14th Century and into today’s beautiful gothic church in 1450’s. Le Petit Sablon is surrounded by 48 little statues representing the medieval guilds of Brussels. In the center stands the statue of Counts of Egmont and Hoorne who were executed by the order of Philip II of Spain in 1568. During 16th century the most prominent noblemen established themselves around Sablon, like The Egmonts, The Culemborgs, The Brederodes, The Mansfelds followed by De Lannoys, De Lalaings etc. By 17th century Sablon area became the most aristocratic and prosperous area in The City.
History of a place is of course its own birth certificate, without which a place does not exist and does not have a background. History is important in defining a place and shaping up its character but places, cities or neighborhoods gain their real characters from the people who live in them. It is the people who actually define a particular area. Because places, like human being, are alive. They have a soul, a character, a language or may be a dialect, an external appearance and a hidden personality which can only be recognized by those who live there and by those who have an intercourse with each other. This is how you communicate with a neighborhood at the end you may not realize but you might have fallen in love with that neighborhood. It is such an intercourse that it pulls you deeper as you live into it. You feel that you are handcuffed by the little antique shops, the fine chocolatiers, the beautiful patisseries and the narrow cobblestones streets as you cannot pull yourself out of the area. As you try to get out from Sablon you find yourself deeper in the streets and at the end of the day you either end up enjoying a delicious meal and wine by a fireplace or in a lovely brasserie among a friendly atmosphere. The real mystery and the magic is in The Egmont House where you want to spend the rest of your life without even thinking of anything else.
I wish you all a happy, prosperous and a peaceful New Year with lots of love and friendship to prevail. I am sure those who live in The Sablon will feel The Christmas and The New Year more profound than most of the others around the World.
