EU emission trading scheme makes first expansion

Norwegian firms to trade with EU counterparts from 2008; government to auction half of allowances, cap foreign permits

Norwegian firms will participate in the EU's carbon trading scheme (ETS) from 2008, it was confirmed on Friday. The European commission announced it had reached agreement to link Norway's national scheme to the EU's carbon market.

Norway is not an EU member but enjoys free access to the bloc's internal market through the European economic area (EEA). In return it is obliged to adopt EU market-related laws, much of it environment-related.

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