- Climate Change
Emissions lower in 2008 for carbon trading companies
Data supplied to the EU Commission by the Environmental Protection Agency shows that the verified emissions of greenhouse gases in 2008 for companies in Ireland covered by the Emissions Trading Scheme are lower than the previous year
Data supplied to the EU Commission by the Environmental Protection Agency shows that the verified emissions of greenhouse gases in 2008 for companies in Ireland covered by the Emissions Trading Scheme are lower than the previous year. Verified emissions have reduced from a high of 22.43 million metric tonnes in 2005 to the 20.38 million metric tonnes reported for 2008.
Emissions trading is a cap and trade scheme where participating companies are given a fixed allocation each year and must either abate CO2 emissions to that level or purchase allowances to meet any exceedance. The Emissions Trading Scheme covers over 100 major industrial and institutional sites in Ireland. These include power generation, other combustion, cement, lime, glass and ceramic plants and oil refining. Also included are large companies in areas such as food and drink, pharmaceuticals and semi-conductors.
Commenting on the release of the emissions figures, Dr Mary Kelly, Director General of the Environmental Protection Agency stated, “the Emissions Trading Scheme is designed to bring about reductions in emissions at least cost, and is seen to play an increasingly important role in assisting European industry implement the type of reductions envisaged in the EU Commission’s recent decisions on an overall 20 percent reduction of greenhouse gas emissions in the EU by 2020...While no doubt some of the reduction reflects the economic downturn which began to have significant impact during 2008, nonetheless the overall picture is one of progressive annual GHG emission reductions."
Details of the verified emissions of greenhouse gas emissions in 2008 are available here .