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EC fails emissions scheme, says E&Y director

The European Commission’s failure to challenge eight EU national allocation plans undermines Europe’s ability to meet its carbon dioxide emissions reduction targets agreed under the Kyoto Protocol according to Ernst & Young’s director of emissions trading Tony Ward.

The European Commission has today approved outright national plans submitted by Denmark, Ireland, the Netherlands, Slovenia and Sweden, and requires only technical changes to “sound” plans submitted by Austria, Germany and the UK, according to EC Environment Commissioner Margot Wallström.

But according to Ward, “The EC’s failure to grasp the nettle at this critical stage has significant

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