Industries under the European Union's Emissions Trading Scheme, or ETS, emitted 0.68% more carbon dioxide last year than in 2006, the European Commission said Friday.
The data have been adjusted for the increase in the number of installations under the ETS, the commission said in a statement.
"While well below the 2.8% growth in the E.U.'s gross domestic product recorded last year, the slight increase in emissions underlines the need for the tighter emission caps that have been set for the 2008-12 trading period," the commission said.
The release of verified CO2 emissions data for installations under the E.U. ETS, is a key indicator for where carbon prices under the scheme should be set. The news had little impact on the CO2 allowances market because preliminary data released earlier showed a similar increase, said a London-based trader. The commission released incomplete data April 2 showing a 1% rise in emissions.
December 2008 allowances were up +0.5% at EUR26.20 a metric ton from Thursday's close of EUR26.06/ton as of 1105 GMT.
The commission has tighter targets for CO2 emissions to 2012. Under the trading scheme, member countries and the commission are required to set limits on the amount of CO2 industries can emit in each country.
Companies that stay below these limits can sell carbon permits to participants that have overshot their quotas, creating a trading system. In theory, the stricter these limits, the higher the price of carbon.
There are more than 11,000 installations under the E.U. emissions trading scheme.