Tag: national allocation plan

Since 2005, some 10,000 large industrial plants in the EU have been required to buy and sell permits to release carbon dioxide into the atmosphere. A so-called 'emissions trading scheme' enables companies that exceed individual CO2 emissions targets to buy allowances from 'greener' ones to help reach the EU's targets under the Kyoto Protocol. However, pollution credits were grossly overallocated by several countries during the initial implementation phase, forcing down carbon prices and undermining the scheme's credibility, which has prompted the EU to consider toughening up the system.

With existing policies in place, only the UK and Sweden will be able to deliver on their pledge to reduce greenhouse-gas emissions, according to new figures by the European Environment Agency (EEA).

The UK government is considering appealing a Commission decision to reject its request for additional CO2 emission allowances to British industry for the first trading period of the EU emissions trading scheme (2005-2007).

The Commission has given its go ahead to the Polish CO2 emissions plan provided that the authorities reduce the volume of allocations in order to stay in line with the EU’s commitments under the Kyoto Protocol on climate change.

The upward revision by nearly 20 million tonnes of the UK National Allocation Plan (NAP) for carbon emissions trading will have to be re-approved by the Commission.