People & Business :: Green Issues
Cefic Sends Warning to EU Climate Negotiators
11:14 AM MST | December 4, 2008 | Alex Scott
Cefic has warned European Union (EU) not to take lightly the problem of “carbon leakage” in the face of the EU’s proposed tougher emissions trading scheme (ETS), which from 2012 would cost industry in Europe billions of dollars each year. Carbon leakage is where operations could relocate outside the EU due to a reduction in their competitiveness. “Carbon leakage is not a myth but sound evidence,” says Cefic, responding to a recent report by U.K. government agency the Carbon Trust, which identified that the EU chemicals...
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