Delay in Kyoto Trading approval for Germany plus 7 more EU States

The delay in the submission of the 'eligibility reports' under the Kyoto Protocol may cause a delay in the use of the Kyoto Mechanims by Germany, Estonia, Greece, Latvia, Luxembourg, Poland, Portugal and Slovenia. The dead line was December 31st. Belgium, Finland, France, Liechtenstein, Lithuania the Netherlands and the European Commission did submit theirs. Countries that don’t comply with the deadline run the risk of delayed access to the transaction of Kyoto credits (CERs/ERUs). That means that those nations' companies under the EU ETS will not be able to have CERs and ERUs on their account for compliance under the Linking Directive. The UN body has 16 months to make a decision on whether or not to approve the initial reports, though they will try to do that faster. So countries that were on-time will get their official approval April 2008 ultimo, just in time for compliance for the first EU ETS Phase. Of course it also depends on the link of the national registries with the ITL. This can be too late for the other member states. As a solution brokers can swop CERs for EUAs for a German company for example. But it limits the total overall use in the EU of CERs for the first ETS phase.