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EU Should Link with Kyoto Carbon Trade by December 1 [GXYBHTX] |
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| GERMANY: May 7, 2007 | ||
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COLOGNE - The European carbon market should link with carbon trade under the UN-sponsored Kyoto Protocol in time to allow the settlement of a widely used contract on Dec. 1 this year, EU and UN officials said on Friday.
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"I would expect the 1 December deadline should be achieveable without any trouble," UN official Andrew Howard said. The European Commission wants all 27 European Union member states to link simultaneously, but that deadline may be a problem for new EU member states Bulgaria and Romania, said European Commission climate official Artur Runge-Metzger. "From our side there's certainly political commitment to make the connection happen. We are certainly aware that there may be a problem with Bulgaria and Romania." "When it comes nearer to 1 December we'll have to decide how much damage will be done by leaving one or two member states out." The Kyoto carbon market framework is called the International Transaction Log.
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REUTERS NEWS SERVICE
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