The Czech Republic, Greece, Italy and Poland will not join the market when it opens on January 1, commission official Jos Delbeke told the UN climate change conference here.

The European Union decided in 2003 to set up an emissions trading market at the centre of its efforts to meet the Kyoto climate accord.

The most polluting countries will have carbon dioxide emissions limited within national quotas drawn up by the commission. But the companies will be able to buy emission rights to be able to go above their set limit.

Delbeke said national plans for Spain, Malta, Hungary, Lithuania and Cyprus would be ready by the end of the month so 21 would be ready for the start of the market.

He said Greece had not yet proposed a national pollution plan to the commission and those of the other three were not considered strong enough.

The official indicated that the commission did not believe Italy had fixed tough enough limits.

The French plan, which was sent back by the commission to the French government in September, has now been agreed by the commission, Delbeke said.

Several countries, including Spain, are using mechanisms which allow a company to invest in clean technology in other countries. The pollution that is avoided can be added to the company's limit in its own country.

Delbeke said about 500 million tonnes of carbon dioxide would be credited to EU companies following investments that have been mainly concentrated in the Third World.

About 2.5 billion dollars of investment has been made, according to Yvo de Boer, head of the Dutch delegation. Netherlands is the current president of the European Union.

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