This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Aprobado el decreto ley que regulará la emisión de gases de efecto invernadero
Approved the decree law to regulate the emission of greenhouse gases
02/09/2004
on September 2, 2004
The Council of Ministers approved on Friday 27 August, at its first meeting after the summer, the Royal Decree law regulating the greenhouse gas emission allowance trading system. It's a standard that aims to contribute to the reduction of carbon emissions that cause climate change, fulfilling the commitment made by Spain with the Kyoto Protocol, and adapt to our legal system the European Directive 87/2003.
It is expected that at the next Council of Ministers was adopted, with the rank of Royal Decree, the first Plan of allocation of emissions (NIP) for the period 2005-2007. The PNA sets the stage for the individual allocation of rights to all facilities before the launch of a new international market that will begin on January 1, 2005. This market will have a great importance to economic sectors such as the industrial and the electric.
The emissions trading scheme will initially apply to carbon dioxide emissions from facilities which carry out activities under the directive which are: power generation, refining and the production and processing of ferrous metals, cement, lime, glass, ceramics, pulp, paper and cardboard.
The Government has established itself as objective that emissions in Spain in the period 2005-2007 stabilized in the middle of those issued in the past three years for which there are official inventories (2000-2002), with a further increase of 3.5 per cent of the emissions of CO2 in sectors affected by the directive for new entrants.
