Missing Kyoto targets will cost Spain EUR 3bn
13 July 2006, MADRID — The government's efforts to meet the Kyoto Protocol climate change agreements are to cost up to EUR 3 billion, it was reported on Thursday.
13 July 2006
MADRID — The government's efforts to meet the Kyoto Protocol climate change agreements are to cost up to EUR 3 billion, it was reported on Thursday.
The bill between 2008-2012 will reach EUR 3 billion, but even then the country may not cut down greenhouse gases enough to meet the agreement, the environment ministry said.
The Spanish daily El Pais reported Spanish greenhouse gas emissions have risen by 53 percent since it signed the Kyoto agreement.
Under that accord, it could only increase CO2 emissions by 15 percent above 1990 levels.
The Spanish government now admits it will probably only be able to cut its emissions down to 37 percent above the 1990 levels by 2012.
Spain will have to buy up emission rights – paying cash to pump CO2 and other harmful gases into the atmosphere.
The bill for doing this is could reach EUR 3 billion.
[Copyright EFE with Expatica]
Subject: Spanish news