Which of the following statement is incorrect regarding the European Union’s Emissions Trading System?
1
It is applicable to all the sectors of Europen Unions (EU) Economy
2
New rules increase target of emissions reductions by 2030 to 62% compared to 2005 levels
3
It is in line with the EU’s “Fit for 55” package of climate plans
4
It was launched in 2005 to fight global warming and is a major pillar of EU energy policy.