EU set for purchase of more carbon units

November 9, 2006

The European Union plans to set aside $2.94 billion in the next year to buy carbon dioxide credits under the Kyoto protocol's Clean Development Mechanism.

Ten EU member states Thursday agreed to fund public purchase programs to buy approximately 111 million tons of carbon dioxide emissions between 2008 and 2012.

A report released in Nairobi at the U.N. conference on climate change said the EU program will focus on capacity development.

Some of the member states that currently have programs include Netherlands, Austria, Belgium, Finland, Ireland, Italy, Spain and Sweden. Germany is running a pilot program.

Finland, which holds the EU presidency, has said one of its major campaigns will be the honoring of the Kyoto protocol.

Copyright 2006 by United Press International

Explore further: American businesses come round, slowly, on climate

Related Stories

Scientists point to forests for carbon storage solutions

September 8, 2008

Scientists who have determined how much carbon is stored annually in upper Midwest forests hope their findings will be used to accelerate global discussion about the strategy of managing forests to offset greenhouse gas emissions.

Recommended for you

Amazon deforestation leaps 16 percent in 2015

November 28, 2015

Illegal logging and clearing of Brazil's Amazon rainforest increased 16 percent in the last year, the government said, in a setback to the aim of stopping destruction of the world's greatest forest by 2030.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.