Industry emitted less than allowed in 2005; but that isn’t good news.

The first year of the European Union’s emissions trading system, a scheme by which industries can buy and sell ‘carbon credits’ to stay under their yearly quota of greenhouse gas emissions, has yielded a surprise. On 15 May, the European commission released data showing that Europe’s major industries actually emitted 44 million tonnes less CO2 in 2005 than they were allowed.

Read the story here.