EU embarks on tough carbon cuts
| The European Union has now set tough carbon limits under the European Trading Scheme's second phase, to the consternation of some of the 10 states involved. Germany who is a huge polluter said that theses limits were unacceptable and that it would raise electric prices. The European Trading Scheme (ETS) aims to cut emissions by 8% of 1990 levels. "Today's decisions send a strong signal that Europe is fully committed to achieving the Kyoto target and making the ETS a success," said EU Environment Commissioner Stavros Dimas. This view was echoed by Michael Grubb, head economist of the UK's Carbon Trust: "They have done a lot to create a level playing field." By making a market for carbon, firms that sell electricity are meant to have a financial motive to cut emissions. If limits on carbon are tightened, then carbon credits, which can be bought or sold, will gain in value. But if it is more expensive for firms - for example pollution intensive power companies - to buy credits; there is a worry they might pass on this cost to the end consumer. People are worried about what it is going to cost the people of the European Union. I think that this movement will be good for the European Union because it will help cut emission and it will make the air quality better. I think this movement will also send a message to other countries to clean up their act and to cut their greenhouse gas emissions. If all countries cut down on emissions the world would have a lot better air quality. |
posted by Anonymous @ 11/30/2006 08:06:00 PM
1 Comments:
The EU does seem to have more success at passing radical environmental protective/reconstructive legislature than other parts of the world. However, I feel that this legislation might fail to meet its own stringent requirements, for the same reasons the US was unable to meet Kyoto Protocol requirements: The requirements are too tough and limit the economic growth of a country involved. Out of all the countries to submit their carbon use limits, only the UK's limit was accepted. Other countries who must limit more than they originally planned aren't too pleased. The original post stated that Germany was worried that the limit would cause electricity rates to raise substantially, and both Lithuania and Slovakia are upset over their "too low" limits. The environment is very important, especially to the densely packed European nations, but a sometimes, a country must put the economic impact and effects on their population on a higher priority.
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