Italy to send revised CO2 plan to EU by year's end
MILAN (Reuters) - Italy aims to send a revised plan for its carbon dioxide (CO2) emissions to Brussels by the end of this year, an environment ministry official said on Wednesday.
The European Union's executive, the European Commission, said in May that Italy must cut emissions from companies covered by the bloc's emissions trading scheme (ETS) to 195.8 million tonnes a year in 2008-2012, about six percent less than Rome had initially proposed.
"Technical experts are still working on finalizing details of the plan. We hope their work will be finished this week or early next week," the official said.
"Then the plan will be published on the ministry's website and sent to Brussels. We hope to do it by the year-end to respect the Commission's objectives," the official said.
Italian environment officials have said the country would comply with Brussels' request, but resistance from the smokestack industries which bear the brunt of CO2 emission cuts has delayed sending the revised plan to Brussels.
The ETS -- part of Europe's efforts to fight global climate change -- sets limits on the amount of CO2 that smokestack industries may emit. Companies sell permits to emit if they fall below their caps or buy them if they emit more CO2 than allowed.
Italy accounted for about 10 percent of the total carbon allowances issued for the 2005-2007 phase of the EU scheme, making it one of the largest players in the EU market.
(Reporting by Svetlana Kovalyova, editing by Anthony Barker)