Europe Union Industrial greenhouse-gas emission fell 3 percent on Friday, in line with the emission cuts and high demand in oil prices.

It fell due to Global warming and emission cut production of 6.5 percent on robust carbon dioxide (Co2) price demand and nitrous oxide onwards the economic slowdown.

Verified emissions of greenhouse gases from all installations in the EU ETS in 2008 totaled 2.118 billion tonnes of Co2.

The 3 per cent reduction was partly due to businesses taking measures to cut their emissions in response to the strong carbon price that prevailed until the economic downturn started, said Environment Commissioner Stavros Dimas in a statement.

It confirms that the EU has a well functioning trading system, with a robust cap, a clear price signal and a liquid market, which is helping us to cut emissions cost-effectively, he added.

It also plans to increase its rate up to 70 percent by 2013 onwards of 20 % emission reduction in greenhouse gases and a 20 % share of renewable energy in the EU's total energy consumption by 2020 to fight climate change and promote renewable energy.

Climate change