Norway sets carbon trade cap for 2008-12

Industry given allocation of 15m tonnes annually, trading link with EU could be close

Norway will cap industrial carbon emissions at 15m tonnes annually in a national trading scheme from 2008 to 2012, the government announced on Thursday. The cap amounts to a 21 per cent cut compared with 2005 levels. A draft allocation plan will be issued shortly. Up to eight million tonnes of allowances could be sold or auctioned, an official told ENDS. Norway is negotiating to link its scheme to the EU's trading mechanism from January (EED 20/09/07). An agreement could be reached in December, ENDS understands. See Norwegian government press release (Norwegian).

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