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Tuesday, April 05, 2005

EU leads Kyoto 'carbon revolution'

EU is certainly the champion of the fight against Climate Change. It is leading the struggle by implementing emission trade and demanding actions from its members. This system will become worldwide by 2008 following the quidelines of Kioto protocol.

EU has internal trade system but currently there are four EU strates that have not joined the family. Chech Republic, Italy, Greece and Poland. UK is also whining about its emission rates within the scheme.

At the moment CO2 is the only gas that is traded and at the moment the prize is somewhere around 7 Euros. Prize is influenced by factors like weather. Cold winters increase heating and if there is no rainfall hydropower has to be replaced by burning fossile fuel. Industrial growth is more steady factor because of the slow process and developing clean technology.

Source BBC

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