 Ross Finnie has published new CO2 emission levels for Scotland |
New greenhouse gas emission limits have been set for Scotland's largest emitters by the Scottish Executive. Environment Minister Ross Finnie published the restrictions, which aim to lower carbon dioxide (CO2) emissions by 2008.
The gas emissions are a factor in climate change.
Some 116 Scottish installations, which account for 40% of the country's CO2 emissions, have been asked to meet the new targets.
The companies include electricity generators, oil refineries and manufacturing plants.
The aim of the new targets it to reduce their expected emissions by 6.5 million tonnes over the next three years.
The plan forms part of the European Union's Emissions Trading Scheme (EU ETS) and allows organisations to trade in the emerging European carbon market.
The EU ETS allows member states to set an emission cap for a set list of installations with each participant allocated a tradable CO2 emission allowance.
The overall limit is produced as part of a National Allocation Plan (NAP) and sets out the total quantity of allowances a country intends to allocate for those involved.
If an emitter manages to reduce emissions below its allowance level then it will have a surplus of allowances left over which it can either trade with other companies, or keep for its own future use.
The EU believes the trading element will encourage participants to reduce their emissions so they can sell the surplus to others.
 Nearly 120 of Scotland's largest emitters are covered by the move |
It is hoped the scheme will help drive down CO2 levels in a more cost-effective manner in each member country.
Mr Finnie said: "In global terms, Scotland's greenhouse gas emissions are small but are still important in terms of the contribution to climate change.
"Our objective is to strike a fair balance between the need to protect the environment and the needs of our economy and society.
"Emissions trading will be a major contributor to this by offering a flexible and cost-effective way to achieve emission reductions."
The UK Emissions Trading Registry (ETR), which enables allowances to be transferred between participants, is due to go live this week. It comes under the wing of the Department for Environment Food and Rural Affairs (Defra).
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Our objective is to strike a fair balance between the need to protect the environment and the needs of our economy and society
