Brussels, 15/09/2004 (Agence Europe) - The European directive on climate change, christened the "linking directive" has been adopted. The Council proceeded without debate on Monday to the formal adoption of the text, which aims to include within the directive creating a Community system for emissions-trading for greenhouse gases other flexible mechanisms under the Kyoto Protocol to allow Union operators to ensure emissions reductions in cooperation with third countries with economies in transition, who produce less CO2 (joint implementation mechanism) or with developing countries through the transfer of clean technologies (clean technology mechanism). Under this text the emissions credits created by the Kyoto mechanisms will be recognised as equivalent to the emissions permits EU operators will be authorised to obtain in order to achieve their emissions reduction aims. The Directive 2003/87/CE was adopted by qualified majority (Germany and Austria voted against).
Recourse to flexible mechanisms will be possible from January 2005, the date on which the European exchange for trading emissions negotiable on the market should open and enable the EU to anticipate the implementation of the Kyoto Protocol. The first commitment period of the international instrument, which is yet to be ratified by Russia and enter into force, covers the period 2008-2012.