European CO2 emission trading moves closer

Sixteen out of 25 national allocation plans now approved as scheme's 1 January launch date nears

The European Commission has approved eight more national allocation plans (Naps) for the EU carbon dioxide (CO2) emissions trading scheme. The development means industry in 16 countries is now cleared to start trading from the scheme's scheduled launch just 73 days from now. It is uncertain how many of the remaining nine will be ready in time.

On Wednesday the Commission approved plans from Belgium, Estonia, Latvia, Luxembourg, Portugal and Slovakia. Each government had agreed to make cuts in the number of emission allowances to be allocated to participating companies in the scheme's 2005-7 phase, it added.

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