COUNCIL OF THE EUROPEAN UNION
Nuclear not excluded after 2012 in Kyoto Mechanisms
On 7 April – after three weeks of intensive
negotiations – the European Council and European Parliament
reached an agreement on the Kyoto Mechanisms Directive. (This
Directive is a so-called ‘Linking Directive’, i.e.
it links the Kyoto Protocol to EU legislation.) The final proposal
only excludes nuclear energy projects during the 2008-2012 commitment
The new law is expected to help European industry
to make earlier use of the Kyoto flexible mechanisms: Joint Implementation
(JI) and the Clean Development Mechanism (CDM). JI allows EU member
states and industries to reach part of the Kyoto targets by investing
in greenhouse reduction projects in other industrialised countries
or countries with economies in transition. CDM enables Kyoto commitments
to be met through projects in developing countries by capacity
building and technology transfers.
Under the new law, nuclear energy projects will
not qualify for JI or CDM greenhouse gas emissions credits during
the 2008-2012 commitment period (in accordance with the Kyoto
Protocol and the Marrakech Accords).
The European Parliament will vote on the final
proposal for the Kyoto Mechanisms Directive on 21 April 2004 at
its plenary session in Strasbourg, France. With an agreement in
place, parliamentary approval of the proposal is likely. The European
Council is expected to formally endorse the proposal on 17-18
May 2004. The new law will enter into force before the EU emission
trading scheme starts next year (1 January 2005).