Subscribe free to our newsletters via your
. 24/7 Space News .

EU states urge lawmakers to back pollution credit plans
by Staff Writers
Brussels (AFP) April 12, 2013

Six EU states, including powerhouse Germany, called on European lawmakers Friday to back efforts to revive a faltering market in pollution credits so as to bolster the bloc's fight against global warming.

Environment ministers from Britain, Denmark, France, Germany, Italy and Sweden said "eight years of efforts" were at risk if the European Parliament rejects the plan in a plenary vote on Tuesday.

The European People's Party, the largest group in parliament, has said it will do just that because it opposes market intervention which could lead to higher overall costs.

Let the market function and find its own level, it says, warning that high prices for pollution credits may only help push companies out of the EU.

"We are determined to reject this plan and this vote is important," said Eija Ritta Korhola of the EPP.

Brussels set up an Emissions Trading System (ETS) for CO2, the greenhouse gas, which first allocates an amount of pollution credits free to companies.

If their emissions exceed this level, they can either buy more credits through the ETS to cover them, or choose to invest in new technology to reduce their pollution and save money in the longer-term.

In practice, and in part reflecting the economic downturn, prices of the ETS credits have been very low, meaning companies see little incentive to invest in new, less polluting technology -- the ultimate aim.

As a result, Brussels plans to freeze the sale of about 900 million tonnes of pollution credits in 2013-2015 in an effort to boost prices and make companies look again at the relative costs involved.

"We need an effective signal on prices if we do not want to imperil our long term objectives," the letter from the six environment ministers said.

EU officials say they expect Tuesday's vote to be "very close."


Related Links
Climate Science News - Modeling, Mitigation Adaptation

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

US businesses call for climate law
Washington (AFP) April 10, 2013
Several major companies issued a joint call Wednesday for the United States to enact legislation to battle climate change, saying that the issue was critical to their businesses. Thirty-three firms including online retailer eBay, tech giant Intel, coffee leader Starbucks and sportswear makers Adidas, Nike, Patagonia, The North Face and Timberland called climate change a threat that required ... read more

Characterizing The Lunar Radiation Environment

Russia rekindles Moon exploration program, intends setting up first human outposts there

Pre-existing mineralogy may survive lunar impacts

Lunar cycle determines hunting behaviour of nocturnal gulls

Accurate pointing by Curiosity

NASA Mars Orbiter Images May Show 1971 Soviet Lander

Opportunity is in position for solar conjunction at 'Cape York' on the rim of Endeavour Crater

NASA spacecraft may have spotted pieces of Soviet spacecraft on Mars

Obama's budget would boost science, health

Underwater for outer space

NASA Celebrates Four Decades of Plucky Pioneer 11

Do Intellectual Property Rights on Existing Technologies Hinder Subsequent Innovation

Shenzhou's Shadow Crew

Shenzhou 10 sent to launch site

China's Next Women Astronauts

Shenzhou 10 - Next Stop: Jiuquan

Europe sets June 5 for launch of space freighter

Spooky action at a distance aboard the ISS

First data released from the Alpha Magnetic Spectrometer

Alpha Magnetic Spectrometer Team Publishes First Findings

Payload integration is underway for Vega's second mission from the Spaceport

Ecuador to launch first homemade satellite

Arianespace receives the second Vega for launch from French Guiana

Future Looks Bright for Private US Space Ventures

Can One Buy the Right to Name a Planet?

Retired Star Found With Planets And Debris Disc

The Great Exoplanet Debate

NASA Selects Explorer Investigations for Formulation

High pressure gold nanocrystal structure revealed

Scientists design new adaptive material inspired by tears

UC Research Demonstrates Why Going Green Is Good Chemistry

Florida Tech professors present 'dark side of dark lightning' at conference

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement