Wednesday, July 16, 2008

Industry "hurt" by climate change policy

Not surprisingly, as the economic storm clouds gather over German industry, business starts squealing and lobbying.

This was inevitable and we can expect a lot more across Europe. Environmental concern is a luxury good. When the going gets tough the green begins to fade.

EU climate proposals hurt industry, says Germany [EU Observer]

The German Economy Ministry has attacked EU proposals to tackle climate change as "pointless" if other major contributors to greenhouse gas emissions are not also committed to significant reductions.

If climate polluters such as China, India and the United States are not also on board, the EU's climate package would end up harming German businesses.


The heart of the EU's climate strategy - the Emissions Trading Scheme - came in for serious criticism.

The ministry statement said that a reduction by 21 percent on 2005 levels in the amount of emissions trading permits - the key mechanism within the ETS that enables emissions reductions would hurt jobs and growth in the EU's largest economy.


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