Estonia’s and Italy’s National Allocation plans (NAPs) are the 20th and 21st NAPs respectively to be assessed by the European Commission for the 2008 – 2012 emission trading period. In both cases, the Commission accepted the NAPs subject to amendments. First, the total number of emissions allowances has to be reduced. The cleared annual allocation is 195.8 million tonnes of CO2 allowances for Italy and 12.7 million tonnes of CO2 for Estonia. Second, the NAPs must include more information on the way new entrants will be treated. Finally, in relation to the credits used for investment in clean technologies in third countries carried out under the Kyoto Protocol's flexible mechanisms, Italy is required to reduce the use of these credits to 15 per cent of its total allocation, while Estonia must include a reserve for them in its total CO2 allowances. Estonia’s and Italy’s NAPs will be approved automatically once these changes have been made.
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Estonia’s and Italy’s National Allocation plans for 2008 – 2012 emissions trading period approved, subject to changes
- McDermott Will & Emery
- Estonia, Italy
- May 29 2007
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