EU EMISSIONS TRADING GREENWATCH
December 1st, 2002
BY ALAN OSBORNIT'S now official. Following agreement this week by its environment ministers, the European Union (EU) is to set up a market to trade pollution permits for carbon dioxide (CO2), the main so-called greenhouse gas, starting in 2005.The European Commission is delighted, business is pleased, and while not all environmentalists are overjoyed, the balance of opinion among them is clearly favourable.Under the scheme the EU's member countries will set from 2005 a maximum limit on the amount of CO2 that a particular industry installation can emit.If the ...
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