Norway to limit climate quotas for companies
Norway will limit companies' ability to buy greenhouse gas emission quotas in developing countries in line with European Union rules aimed at forcing cuts at home, the government said on Wednesday.
The European Union Emission Trading Scheme stipulates companies that need to increase their emissions must buy credits from those who pollute less.
Environment Minister Helen Bjoernoy expressed hopes that the ceiling would allow Norway to take full part in the EU carbon trading system from January 1, 2008.
"This ceiling means a limit on the amount of quotas that can be bought in developing countries and we will cut instead in European Union countries," Bjoernoy said.