EU climate emission trading to start four short

Firms in Greece, Italy, Poland and Czech Republic must wait to join carbon market as Commission delays Nap approvals

The EU's carbon dioxide emission trading scheme will begin in January with only 21 of its 25 member states participating, European environment commissioner Stavros Dimas said on Friday. National emission allowance allocation plans (Naps) for four countries - Greece, Italy, Poland and the Czech Republic - will not get Commission approval before the scheme goes live.

Speaking before leaving for global climate talks in Buenos Aires, Mr Dimas said five more Naps would be given the green light on 22 December - for Spain, Hungary, Lithuania, Cyprus and Malta. Sixteen have already been approved or partially approved. The EU executive is required to verify that all the allocation plans do not distort competition or distribute allowances too generously.

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