This is last of a three-part series on carbon and climate change to show how global adversity can be changed into an opportunity Priyadarshi Shukla Ahmedabad: There is an evolving carbon market where carbon offsets are traded. The largest is the European Union's Emissions Trading Scheme (EUETS) established for offsetting emissions limitation committed under the Kyoto Protocol.

Tata Motors may be in for a shock. Under a tough new emissions regime to be introduced by the European Union, Land Rover and Jaguar are likely to face emission fines of up to

Remember the green old days? They seem like only last year. In fact they were only last year: according to one long-running opinion poll, concern for the environment among consumers reached a peak in January 2007. Since then it has all but disappeared.

Germany said it would issue 451.9 million tonne say ear of carbon-dioxide pollution certificates from 2008 to 2 012, 0.3%fewer than allowed by the European Commission. Germany cut its planned emission cap because new power plants will need fewer free C02 permits than previously expected, the DEHST emissions trading unit of the environment ministry said on its website. Germany earlier set aside 11 million tonnes of C02 a year for new power plants and factories, yet permits foronly9.79milliontonnesareneeded. German utilities and energy-intensive industries want installation-level allocations of permits as they prepare for the second phase of the EU's climate control programmed. Some 1,625power plants and factories, new and in operation, will get388.86 million tones of free permitseveryyearthrough2012 according to the plan.

European Commission has recently proposed a particulate matter (PM) number limit for light-duty diesel vehicles under the Euro 5 and Euro 6 emission standards. To ensure that emissions of utlrafine particles are controlled, the commission has set up this new regulatory approach that tracks emissions in terms of mass and numbers. The proposed PM number emission limit is 5x1011 particles per km. It will be applicable to all light-duty diesel vehicles at the Euro 5 (effective from 2009) and Euro 6 (effective from 2014) stage in Europe.

This paper is meant to deliver input into the political discussion on Emission Performance Standards (EPS) in the EU power sector. The paper will explore the effects of the introduction of an EPS on electricity sector emissions until 2030 and discuss various EPS related implementation issues.