Hungary plans to set a cap of 30.73 million tonnes carbon dioxide emissions per year on its industry in phase two of the European Union’s emissions trading scheme, up from 30.24 million in the current period

BUDAPEST, Hungary; January 15, 2007.- “Companies under the climate protection scheme will receive on average 30.73 million emissions permits in the 2008-2012 period,” Environment Ministry state secretary Laszlo Diossy told national news agency MTI.

Hungary’s government is scheduled to finalise the plan at a meeting next week.

While the figure is above the annual 30.24 million permits allocated to Hungarian companies in phase one (2005-2007) of the EU’s scheme, it is lower than an average 30.85 million proposed in a draft version of the plan published last October.

The European Union’s executive Commission has already rejected all but one of 10 phase two emissions plans so far, and is to consider more such plans later this month.

Member states have been under pressure to squeeze their quotas since figures published last May showed most countries, including Hungary, had set overly generous phase one ceilings, upsetting the bloc’s efforts to reduce overall emissions.

But Hungary, where major polluting firms were shut down after the change of regime in 1989, is well on track for its Kyoto targets, which require the country to curb greenhouse gas emissions by six percent by 2012 from 1985-1987 levels.

Projections released by the European Commission last year showed a decline of 28.5 percent in greenhouse gas emissions for Hungary by 2010 even with existing policies, whereas overall reductions for the 25-member bloc were projected at 4.6 percent.

Under the emissions trading scheme, the mainstay of the European Union’s bid to meet its commitments under the Kyoto Protocol on tackling climate change, each member state must set national ceilings on how much CO2 industries can emit.

The limits are set by the number of permits allocated, each of which allows the emission of one tonne of carbon dioxide into the atmosphere.

(Reuters)

 

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