New Directive in EU for emissions trading

The European Parliament's voted in favour of a new Directive that will give a boost to the development of greenhouse gas emission reduction projects. The new directive will allow European companies participation in emissions trading to count credits from emission reduction projects around the world towards their obligations under the European Union's emissions trading scheme. The scheme builds on the project-based mechanisms «Clean Development Mechanism» and «Joint Implementation» created by the Kyoto Protocol 1997.