Connie Hedegaard, European Commissioner for Climate, welcomed Tuesday the decline in carbon emissions of 12,000 power plants and factories of Twenty-Seven, Norway and Liechtenstein submitted to CO2 quotas. These emissions have decreased by 2% in 2011 while GDP growth in the European Union (EU) rose 1.5%.
"This positive result shows that the ETS (the system of trading commonly known as CO2 exchange, Ed) allows emission reductions at lower cost," said the former Danish Minister of Environment from Brussels.
According to the Commission, less than 1% of installations weighing less than 1% of carbon emissions did not meet their cap. In addition, 2% of facilities did not submit their record on April 30, annual renewal of the quota system.
The refusal of the Chinese airlines
Since 2010, the airlines participating in the European system. In 2011, almost all companies reported their figures. But it is only since 1 January 2012 all companies, European or not, operating flights to or from the EU must meet emissions ceilings cheap pay day loans.
As the 12,000 facilities are already covered by EU ETS, companies that exceed their target can buy carbon credits on the stock exchange, and those who are virtuous can sell. Ten Chinese and Indian companies that represent approximately 3% of aviation emissions have declined to publish their releases. Beijing has so far strongly opposed the application of CO2 allowances to its airlines in the European skies.
The economic crisis, since 2009, has reduced CO2 emissions on the Old Continent and brought to market a surplus of credits. Result, the price per tonne of CO2 has collapsed to about 12.5 euros in mid-2011 to 6.7 euros on Tuesday on the spot market.
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