Kyoto Protocol - A little done, a lot more we need to do
The European Commission announced yesterday that it is cutting the level of emission rights that this country had sought under the EC trading scheme for the years 2008 to 2012. The Irish plan is being cut by 6.4% on the basis that the country transport emissions will increase by more than was anticipated in the projections, and that the Government has not made enough progress on the issue of purchasing allowances. The allowance purchase scheme is designed to cut emission by allowing Government to sell emission rights to large greenhouse gas produces, who can then sell any excess back, if it cuts emissions below its cap. On the other hand, producers who exceed their emission allowance face fines.
In accordance with the Kyoto Protocol, Ireland was supposed to cut 8% off its 1990 emissions level by 2012. At present we are 23% above the 1990 level.




