EU climate trading "will help UK meet targets"
The creation of an EU carbon emission market from 2005 should help the UK meet its unilateral target of reducing carbon dioxide emissions 20% by 2020, according to a report by British consultancy Cambridge Econometrics. Its latest survey of energy and environment trends also predicts the UK will comfortably meet its Kyoto reduction targets (EED 04/02/02). But the forecast depends on a rise in the price of carbon allowances to £99 (€140) by 2010, a figure much higher than those projected by the European Commission (EED 24/07/03). See press release.