EU energy chief wants ETS review if Kyoto not in force by Dec

Brussels (Platts)--21Sep2004

The European Union should review its emissions trading scheme if the Kyoto
protocol on climate change has not entered into force by December, EU energy
commissioner Loyola de Palacio told the European Parliament energy committee
Tuesday. "The EU should set December 2004 as the deadline for Russia to ratify
Kyoto. If it hasn't then the EU should review if the emissions trading scheme
is the most appropriate tool to achieve its Kyoto goals," she said. 

Kyoto sets binding targets for greenhouse gas emission reduction once it
enters into force. But in the absence of the US, this will only happen if
Russia ratifies it. De Palacio said that the Russians told the EU that they
would ratify during talks on their accession to the World Trade Organization.
But she had the impression that the Russians would continue to defer a final
decision. De Palacio's five-year term as energy commissioner ends next month.

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