the European Commission (ec) has undertaken a major initiative to combat climate change by agreeing on a proposal for emission trading to be implemented in the European Union (eu) by 2005. The proposal will lay foundation for the largest emission trading.

The proposal, adopted recently, is designed to help the ec to ratify the Kyoto Protocol. It includes a draft directive on greenhouse gas emissions trading within the eu; and a communication setting out further measures for reducing greenhouse gas emissions. Environment Commissioner Margot Wallstr