The European Commission will announce today the cap for 2013 emissions in its carbon market including aluminum and chemical products makers that will join the system in its next phase.
The cap excluding the two industries was set in July at 1.927 billion metric tons. It will be adjusted further to include limits for airlines that are due to join the EU cap-and- trade program in 2012.
The cap for the first year of the new trading period in the EU carbon market will be published at 12 p.m. in Brussels, the commission said on its website today.
The EU’s emissions trading system, or ETS, is the world’s largest. Started in 2005 to help fight climate change, it covers facilities that produce energy or goods from paper to cement.
Emitters including E.ON AG, Germany’s biggest utility, and Royal Dutch Shell Plc, Europe’s largest oil company, must have an allowance for each ton of CO2 they emit in burning fossil fuels. Those that produce more than their allowance need to buy more; those that emit less can sell their surplus.
The current trading period in the ETS ends in 2012. To calculate its annual emissions caps in the third phase of the system until 2020, the commission uses a linear reduction factor of 1.74 percentage points of the average annual total quantity of allowances issued by member states in 2008-2012.
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