EU climate trading scheme set to emerge

Draft text sets out flexible carbon regime with euros 200 per tonne fine for exceeding emission allowance

The European Commission is close to proposing rules for an EU-wide carbon dioxide emission trading scheme, it has emerged. Circulated internally by the Commission's environment directorate, the draft directive would establish a highly flexible trading regime from 1 January 2005.

If it passes this next test, the directive could be formally proposed before international talks to finalise the Kyoto protocol resume in Bonn next month. Its emergence would mark a huge about-turn in EU attitudes to emission trading since the protocol was agreed in 1997 and provide an important signal reaffirming its determination to implement it.

Please sign in to access this article. To subscribe, view our subscription options, or take out a free trial.

Please enter your details

Forgotten password?

Having trouble signing in?

Contact Customer Support at
or call 020 8267 8120

Not a subscriber?

Take a free trial now to discover the critical insights and updates our coverage offers subscribers.