16 January 2008 18:14 [Source: ICIS news]
PARIS (ICIS news)-- European member states will face tougher limits on greenhouse gas (GHG) emissions after 2013, but no country will be required to reduce GHG to more than 20% below 1990 levels, according to a draft review of the European Union Emissions Trading Scheme (EU ETS).
The European Commission (EC) will publish its final proposals for a review of the scheme on 23 January, but the draft paper says the “EU-wide quantity of allowances should decrease in a linear manner…ensuring that the emissions trading system delivers gradual and predictable reductions of emissions”.
Each member state will be asked to help achieve the European Union’s (EU) goal of decreasing emissions by 20% by 2020 compared to 1990 levels, with the burden dependent on levels of economic growth.
“No country should be required to reduce its greenhouse gas emissions in 2020 to more than 20% below 2005 levels and no country should be allowed to increase its greenhouse gas emissions in 2020 to more than 25% above 2005 levels,” says the paper.
The proposed review of the EU ETS will also recommend full auctioning from 2013 onwards for the power sector and from for refineries and carbon capture and storage.
Other sectors will be subject to a transitional system for which free allocation in 2013 would be a yet-to-be agreed percentage of the emissions those installations emitted in 2005-2007 as a proportion of the annual EU-wide total quantity of allowances.
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