Policy status:Planned
Date Effective:2004
Policy Type:Regulatory Instruments, Economic Instruments>Market-based instruments
Agency:Climate Change Office
Legal References:National Allowance Allocation Plan
Climate Change Description:The Spanish Government approved the National Allocation Plan for 2005-2007, by means of the Royal Decree 1866/2004 dated 6 September 2004. The NAP is to allocate 160.28 MtCO2. The reserve for new entrants is set to equal 3.5% of this amount or 5.42 MtCO2 per year. Unused allowances will be automatically transferred to the new entrant reserve. The government has stated its intent to purchase JI/CDM credits, approximately 100 MtCO2 through project-based mechanisms for the 2008-2012 period. The Spanish NAP must wait for European Commission approval before entering into force.

Last modified: Tue, 17 Jul 2012 12:26:14 CEST