Reuters: Italian refining industry will overshoot its carbon dioxide emission targets by at least 3-4 million tonnes in 2008 as its workload is set to increase, refining industry body Unione Petrolifera (UP) said on Monday. Under the European Union’s Emission trading Scheme (ETS) — part of Europe’s efforts to fight global climate change — smokestack industries are assigned CO2 emissions limits and then can buy or sell them on the market. Italian refiners’ CO2 quotas deficit would grow …