This report provides an analysis of past, present and futureemissions trends under the EU ETS, based on the latestdata and information available from the EuropeanCommission and Member States. It also analyses thebalance between supply and demand of allowancesin the market. The report's annexes provide extensivematerial describing the functioning, scope and cap ofthe EU ETS, as well as a specific analysis of emissions ofnon-CO2 gases covered by the EU ETS.