EU Emission Trading Scheme: use permit revenues to fund climate change protection, says Environment Committee / Equipping power plants to store CO2 underground / Fine Member States that fail to meet national emission reduction targets, says Environment Committee

Voting on the 7 October 2008 on the revision of the EU's Emission Trading System, the Environment Committee of the European Parliament backed European Commission plans to reduce greenhouse gas (GHG) emissions from most industrial sectors by 21% from 2005 levels by 2020 and phase out free emission permits, leading to full auctioning, with an exception for energy-intensive sectors. MEPs want permit auction revenues to be used for climate change protection measures.

EP: Press Release, 7.10.08: Equipping power plants to store CO2 underground http://www.europarl.europa.eu/news/expert/infopress_page/064-38803-280-10-41-911-20081006IPR38802-06-10-2008-2008-false/default_en.htm

EP: Press Release, 7.10.08: Fine Member States that fail to meet national emission reduction targets, says Environment Committee http://www.europarl.europa.eu/news/expert/infopress_page/064-38801-280-10-41-911-20081006IPR38800-06-10-2008-2008-false/default_en.htm

Spiegel Online International, 7.10.08: EU Parliament Says Energy Utilities Should Pay for Emissions http://www.spiegel.de/international/europe/0,1518,582649,00.html

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