Hot air: report criticises Irish plan to buy carbon credits

IRELAND is investing in hot air rather than cleaning up its environment and helping in the fight against climate change, a new report says.

Some 12,000 energy-intensive plants across the EU are able to buy and sell permits to emit carbon dioxide covering about 40% of the EU’s total CO2 emissions.

Ireland is purchasing 95.5% of the 18 million tons of CO2 emissions it has pledged to reduce under the Kyoto agreement at a cost of €270 million.