23 May 2008 15:50 [Source: ICIS news]
PARIS (ICIS news)--Overall carbon dixoxide emissions from EU within the emissions trading system (ETS) increased 0.68% in 2007, the European Commission (EC) said on Friday.
Total verified emissions from EU ETS installations from 24 EU countries in 2007 were 2.050bn tonnes of CO2, 0.8% higher than the 2.034bn tonnes recorded in 2006.
However, when adjusted for the entry and closure of installations since 2006, which led to a net addition of 581 installations to the system, the overall emissions increase last year was only 0.68%, according to the EC.
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European environment commissioner Stavros Dimas said that the data proved that the ETS – whose second trading period began in January – was working.
“Studies show that emissions would most likely have been significantly higher without the EU ETS,” he said. “However, the small rise last year further confirms the need for a strict emission cap for the second trading period that started this January.”
The second phase of the EU ETS will last until 2012, when the EU hopes to have met the targets for reducing greenhouse gas (GHG) emissions set under the Kyoto Protocol.
The EC said that it would provide further information on compliance with the EU ETS in June, noting that of the 11,186 installations participating in the scheme last year, just 68 failed to surrender enough allowances to cover their 2007 emissions.
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