European Commission Cranks Down Carbon Caps 7%
So far most of the EU states are ahead of their current targets and have credits available, but under the new caps, most will not have enough credits and will have to make further cuts in emissions. There is an emissions credit trading program in place as part of Kyoto, but it only covers industrial emissions not transportation. Further cuts will be required by everyone in order to meet the total caps that are part of the Kyoto.
[New Scientist via TreeHugger]
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