CO2 scam expensive for the Irish

Ireland: Big fines looming as we fail Kyoto test

THE State could be facing an even larger bill for off-setting greenhouse gasses after projections showed our emissions increased by nearly 5pc last year.

Energy and Natural Resources Minister Eamon Ryan has admitted it will be a "real challenge" to meet the Government's target of reducing carbon emissions by 3pc every year during its term in office.

But the opposition has warned that the State may have to pay even more than the €270m that has been set aside to buy the permits, known as "carbon credits", to emit greenhouse gases .

Fine Gael energy spokesman Simon Coveney said the price of the credits, currently around €30 per tonne of emissions, was only going in one direction.