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EU Nations Cheated UN Carbon Credit Scheme to Increase CO2 Emissions

© Photo : PixabayPower plant emissions
Power plant emissions - Sputnik International
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Some EU nations exploited loopholes in the UN carbon-trading system to emit more greenhouse gases, an analysis by the European Commission, seen by media, revealed Friday.

A worker is pictured on May 29, 2009 at the Mongstad oil refinery in western Norway, the most polluting of the country. The refinery chimneys belch out 1,7 million tonnes of carbon dioxide into the air per year, yet with the new pilot system of channeling the carbon dioxide, set for 2011, it may greatly contribute to the fight against global warming. - Sputnik International
CO2 Late: Carbon Dioxide Levels Past Point of No Return
MOSCOW (Sputnik) The UN scheme allows countries to trade emissions reduction units under the 1997 Kyoto protocol as an incentive to reduce carbon emissions.

Findings published in the Commission’s study reveal a number of EU countries understated their logging goals in 2013-2014 to win carbon emission credits they used to emit extra 120 million tonnes of gases, Euractiv reported.

The European Union’s executive body has urged to plug the loophole in the forestry rules that allowed basing credit calculations on predictions of future harvesting and proposed matching assessments to past logging.

The analysis was carried out to uphold the Commission’s Effort-Sharing Regulation, a bill that will set binding annual greenhouse gas emission targets for EU members states between 2021 and 2030.

The European Union has pledged to cut its carbon emissions by a combined 40 percent from 1990 levels by 2030 under a Paris agreement on climate change. The 2015 climate pact seeks to rein in rising global temperatures.

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