The European Commission will issue its decisions to accept or reject some member states carbon dioxide (CO2) emission allocations plans on Nov. 29, the EU s environment commissioner said on Thursday. Stavros Dimas reiterated that he would send back plans to EU countries if they failed to provide enough cuts in emissions necessary to meet climate change targets agreed under the Kyoto Protocol.

"(The date is) the 29th for some," Dimas told reporters when asked when the first decisions on the plans would be announced. Dimas renewed his call on European Union countries to produce plans that would were tough in cutting emissions after 2005 data showed governments had allocated more pollution permits to industry than it actually needed, leading to a crash in carbon prices.

"I am not going to let the emissions trading system suffer," Dimas told an energy conference. The plans form the basis of the EU s emissions trading scheme by setting limits on the amount of CO2 big factories can release, forcing companies to buy emissions permits if they exceed their cap.

Carbon traders are eagerly awaiting decisions on the 2008-2012 plans to see how robust the market is likely to be in the next trading period.
(Planet Ark, 10/11/2006)