EU ETS next phase ‘good news’
December 14th 2006 Environment Secretary David Milliband says the next phase of the emissions trading scheme as decided by the EC is “a good decision”, giving UK plc the confidence needed to make low carbon decisions. For the 2008-2012 trading period the EC has reduced the allowances by almost seven per cent below national allocation plans and seven per cent below the 2005 emissions.
Trade Secretary Alistair Darling, echoed his sentiments, saying the scheme can “deliver reductions at low cost, minimising economic impact”.
The cuts proposed by the Commission weren’t welcomed as warmly across the continent. Only the UK’s proposals (246.2 million allowances) matched its expectations. Other nations, notably Germany, were given tighter caps than proposed. Fearing the worst, France pulled its submission at the last minute.
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