Compromise sees carbon allowances agreed
Czech Republic plans to allocate 292.8 million carbon dioxide emission allowances to its companies for the 2005 – 2007 period under the European Emissions Trading Sceheme have been approved by the European Union Commission.
The approval followed a compromise between the Commission and the Czech government, which had hoped to allocate 323.64 million allowances, as opposed to the EU’s 270 million. However, while Czech emissions are already lower than Western European member states, an over allocation leaves room for unconstrained economic growth in the former communist state.