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MEPs refuse to let financial crisis affect EU climate targets

eldr, Thursday 9 October 2008 11:00 ::

 The financial crisis that is gripping Europe threatens to not only affect the future economic climate, but also to impact on the EU’s climate change initiatives, which include cutting CO2 emissions by 20% by 2020.

Concern has been raised by some member states that meeting the climate change targets set by the EU will have adverse financial implications and will disadvantage businesses operating in a period of low growth. Poland, in particular, has expressed the view that requiring industries to buy credits under the EU Emissions Trading Scheme (ETS) is bad for businesses and reduces the country’s energy independence.

However, in a vote on parts of the EU Climate Change Package on Tuesday 7th October, MEPs in the European Parliament Environment Committee voted in favour of the gradual extension of the ETS to include the aviation industry. MEPs also approved proposals to add carbon capture and storage technology to power plants in order to help meet targets for cutting emissions.

To achieve long-term independence from fossil fuel use, ELDR welcomes increased resources for research and development of renewable energy sources, with methods to help restore the global sustainability, such as carbon capture and storage technology, and their implementation in partnership with developing nations.

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ELDR is the party for liberal democrat values in Europe. Together with our liberal members parties across the European continent we are transplanting the principle of freedom into politics, economics and all other areas of our societies. The ELDR provides an increasingly vital link between citizens and the EU institutions and is continuously growing in size and significance.

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