Monday, September 26, 2011

European Commission Reveals Emissions Benchmarks

To begin what should be an eventful week in ETS news, the European Commission today made public the benchmark values by which free greenhouse gas emissions allowances will be allocated. See EC press release available here. The benchmarks should give airlines a clearer idea of the costs of the EU's plan to limit greenhouse gas emissions, scheduled to enter into effect in 2012. Rhetoric over the ETS is likely to heat up as non-EU states are scheduled to meet later this week in New Delhi to draft a declaration opposing the plan. See Tarun Shukla, India to Lead Campaign Against EU's Carbon Levy, Livemint.com, Sept. 22, 2011 (available here).

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