The European Union yesterday announced 2008-2012 CO2 allowances for ten countries, under the Kyoto Protocol climate change treaty. Countries that are not able to keep pollution within these limits must purchase carbon credits from countries that do not use their entire allowance.
The UK's new annual emissions limit will be 246.2 million tonnes of CO2, compared to a limit of 245.3 million tonnes in 2005. In other words, the country will have to hold emissions constant despite a growing economy and rising population. Other countries, like Germany, face more stringent year-on-year cuts.Environment Commissioner Stavros Dimas said: “Today’s decisions send a strong signal that Europe is fully committed to achieving the Kyoto target and making the EU ETS a success."