For the complete report in the Deutsche Welle click on this link
Commission Cracks Down on EU Carbon Credit Give Away
On Wednesday, the European commission demanded from some EU counties, including Germany, to cut carbon credit permits for, under its European Trading Scheme (ETS), after over-supplying emission rights. The ETS aims to reduce greenhouse gases by 8 percent by 2012 as it promised under the 1997 Kyoto Protocol on climate change. The scheme, established last year and ending in 2007, aims to reduce carbon emissions by providing a market-based trading system. It is based on limiting the total amount of CO2 emissions, but can offer control over reductions flexibly and at a low-cost.
It is designed to put caps on the amount of carbon dioxide emitted by heavily polluting factories across Europe. But in 2006, the governments of some EU countries gave away free carbon pollution permits that exceeded the amount of pollution that was released -- which the European environment commission has decided to put a stop to.
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