What happens if IMO or EU is decreases the baseline?

Tradable emissions are those achieved bellow the baselines, which ever they may be at the time of trade.

The environmental trend tends towards stricter regulation through time. Pollution sources get regulated according to the effects they cause to the environment and available options. Emission trading can act as a pro-active measure and remove Maritime from the ‘problems’ list to the ‘solutions’ list, if reduction volumes are encouraging.