Emissions Trading Schemes (ETS) are a key instrument in the mitigation of greenhouse gases. Yet, complementary policies are often required to reflect local circumstances.

ETS are embedded in various policy mixes in ICAP jurisdictions. These include, for example, local air quality standards, vehicle emissions and fuel efficiency standards, direct funding for investment in new low-carbon technologies, fuel and other taxes, voluntary agreements with industry, energy efficiency standards for buildings and appliances, renewable portfolio standards and feed-in tariffs, to name a few.

However, all measures are compatible with and complementary to the development of the global carbon market.