The UK Government announced its proposal for the European Union’s Emissions Trading Scheme (EU ETS), Phase II (2008-2012). It is proposing to allocate 238 million allowances per year during the second phase, which will run between 2008 and 2012, compared to 245 million allowances per year under the current phase of the scheme. This announcement will put the UK on course to achieve a 16.2% reduction in carbon dioxide emissions by 2010, compared with the 15-18% range stated in the Climate Change Programme published in March 2006.

The Government also announced the creation of a new joint Defra/DTI Environmental Transformation Fund that will provide a boost to investment in renewable energies and other green technologies aimed at reducing carbon emissions.

For further information please visit:
http://www.defra.gov.uk/

Source: http://www.defra.gov.uk (accessed 04/08/06)

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