(1) This Order establishes a trading scheme, known as the "UK Emissions Trading Scheme" or "UK ETS".

(2) The purpose of the UK ETS is to limit, or encourage the limitation of, the emission of greenhouse gases [Section 92(1) of the Climate Change Act 2008 defines "greenhouse gas".] in the trading period from the carrying out of -

(a) regulated activities by operators of installations; and

(b) aviation activities by aircraft operators.