Finnish greenhouse gas emissions still exceed Kyoto limits by 20%

Agreement aimed at curbing global warming takes effect Wednesday

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The Kyoto Treaty, aimed at slowing down global warming, comes into effect today, Wednesday.
      The agreement imposes obligations on Finland to sharply limit emissions of so-called greenhouse gases, which are believed to contribute to global warming.
      So far, the trend has been the opposite. In 2003 carbon dioxide emissions exceeded the upper limit by as much as 20%.
     
Environment Ministry official Jaakko Ojala attributes the negative development to exceptional weather conditions. The years 2001-2003 were exceptionally dry and cold; there was much demand for heating, and limited sources of hydroelectric power available. Consequently, Finland had to make extensive use of its coal-fired power plants to supply electricity to both this country and the rest of the Nordic region.
      "We were left with the emissions, and the electricity went for the use of the Swedes, and partly the Norwegians", Ojala says.
      Although the emissions came down last year, the Kyoto limits were still a remote goal. Under the pact, by 2012 industrialised countries are required to reduce their greenhouse emissions to the level they were in 1990.
      The main obstacle for Finland are the emissions of electricity and district heat production, and also those of transport. Emissions from waste management and agriculture have already come down.
     
International trade in emissions is seen as one of the most important ways to bring total emissions under control.
      The Finnish Sampo Bank and the German investment bank Dresdner Kleinwort Wasserstein have recently signed the largest-ever deal on the sale of derivatives from emission rights of carbon dioxide.
      The deal between the two banks helps protect those taking part in emissions trade from price fluctuations.


Previously in HS International Edition:
  Over 500 emission quotas allocated in Finland (15.2.2005)
  EU Commission takes legal action against Finland over emissions trade (20.1.2005)
  Minister Pekkarinen claims climate goals unreachable by EU alone (12.11.2004)
  Kyoto Treaty emissions trade could raise Finnish electricity prices significantly (8.10.2004)

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