The carbon dioxide (CO2) emissions cap will be tighter under the second round of the European Unions emissions trading scheme in 2008-2012, the EU environment chief said late on Friday. Asked about tightening the limit on emissions for the second period, Environment Commissioner Stavros Dimas told Reuters: "Definitely, and Im determined to be tough but fair in assessing the members allocation plans."

The EUs 15 "old" member states are required under the Kyoto Protocol to reduce the emissions by power stations, vehicles and other sources of heat-trapping gases by 8 percent compared to 1990 levels by the end of the treatys 2008-2012 period. The scheme has been trying to re-establish its credentials as an effective way to fight climate change since the 2005 data released in May showed a surplus of CO2 credits.

European Union states further undermined the scheme on June 30 as nearly all missed the deadline to set caps on CO2 emissions for the second trading period. Dimas said he was determined to achieve the 8 percent target, and that the emissions trading system was a key strategy in achieving it. "I think it s perhaps the basic instrument right now in order to achieve reduction of carbon dioxide in the most economic and cost efficient way."

The Commissioner spoke at the sidelines of the informal meeting of the EU environment ministers in Turku, Finland, which focuses on eco-efficiency and new environmental policies. The emissions trading scheme itself was not on the official agenda. Dimas said EU member states must take their previous over-allocation into account when preparing plans for the next trading phase.

"I m going to repeat tomorrow (in the ministers sessions), that the allocation plans are to be submitted as soon as possible. I hope we are going to have most the national plans within July," Dimas said. He said he expected to receive "a few more" plans in the coming days on top of the 5-6 submitted emission plans.
(Planet Ark, 17/07/2006)