Press Release: Emissions trading: Commission adopts decision on Hungary’s national allocation plan for 2008-2012

The European Commission has concluded the assessment of Hungary's national plan for allocating carbon dioxide (CO2) emission allowances for the 2008-2012 trading period of the EU Emissions Trading Scheme (EU ETS). The Commission accepted Hungary's national plan on condition that certain changes are made, including a reduction in the total number of emission allowances proposed. The cleared annual allocation is 26.9 million tonnes of CO2 allowances, 12.4% less than Hungary had proposed. Hungary's plan covers additional emissions in sectors which did not report emissions in 2005 of roughly 1.4 million tonnes of CO2. The Emissions Trading Scheme ensures that greenhouse gas emissions from the energy and industry sectors covered are cut at least cost to the economy, thus helping the EU and its Member States to meet their emission commitments under the Kyoto Protocol.