European emissions trading on track
The EU emissions trading scheme is on track to start in January 2005, with the European Commission having approved 16 out of 25 of the EU member National Allocation Plans that lie at the heart of the scheme, said Peter Vis, acting head of the Industrial Emissions Unit of the Commission.
Under the Kyoto Protocol, Europe has a target of reducing carbon emissions by 8% from 1990 levels by 2012, and the National Allocation Plans give each EU member country its individual emissions target.
Individual allowances will then be distributed across over 12,000 heavily polluting installations such as electricity generators
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