Extracts from NATTA's journal
Renew, issue 145Sept-Oct 2003

15.UK Carbon Trading

Nearly 1000 companies transferred over 7m tonnes of carbon dioxide credits during the first year of the UK’s voluntary Emissions Trading Scheme, according to figures published by Defra. Speaking at the 3rd Annual Emissions Trading Conference in London in May, then Environment Minister Michael Meacher said: "these are impressive figures which indicate very encouraging levels of activity for this fledgling market. UK business has gained valuable experience of trading in environmental markets, using specialist brokers, an online Registry, and undergoing verification and compliance procedures".

866 out of around 5000 companies with Climate Change Agreements entered into the scheme either to buy allowances to meet their target, or to sell any over- achievement. 31,577,869 allowances have been allocated to companies, 7,216,105 of which have been transferred See: http://defraweb/environment/climatechange/trading/index.htm

The UK Emissions Trading Scheme, launched in April 2002, is the world’s first economy-wide national-level greenhouse gas trading scheme. Emissions trading is designed to allow businesses to reduce their emissions of greenhouse gases in the most economically efficient way. The EU-wide non-voluntary scheme should start in 2005-see p.10.