Like a few other EU countries in the last weeks, Italy has joined the group of emitters that might see their deficits overturned, thanks to the economic crisis. According to the Sustainable Development Foundation (SDF), a Rome based institution, the crisis has caused a massive reduction in greenhouse gas emissions of the country, amounting to a 6.7 percent reduction in 2009 compared to 2008 levels. Given Italy’s commitment under the Kyoto Protocol (-6.5 percent by 2012 compared to 1990 levels) Italian average emissions during the compliance period should add up to no more that 483.3 million tonnes. SDF data show that 2009 emissions amounted “only” to 502.3 millions, thus making the extra effort required to comply much less relevant than previously thought. This could affect the plans of the country in the carbon market; in fact, Italy had foreseen to have to buy 85,5 million credits through the carbon markets, which might not all be needed any more.

Climate Policy News

• This news is extracted from the Climate Policy News : a CMCC weekly column that summarises the latest news on international climate change agreements, the updates on the carbon market and the energy and technology updates in the realm of climate change. Go to the web page and see all previous issues since March 2007.
• This week: EC approves anti-fraud measures; The bright side of the crisis; A new era for climate diplomacy…; Mexico launches new partnership; Financial commitments not enough; the carbon market this week. Download the February 15-21, 2010 Newsletter [112 Kb].