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  • Published: May 28th, 2010
  • Category: Europe
  • Comments: 4

Opinion: EU crisis may hit carbon targets


| Sourced From Business.timesonline |

The European Commission is under pressure to shelve plans to raise its target for greenhouse gas emission cuts from 20% to 30% amid fears that further uncertainty would be too damaging to fragile world markets.

The EU is planning to publish a paper this week urging carbon emission reductions targets for Europes biggest polluters to be raised to 30% by 2020, an announcement that is likley to cause a sudden surge in the price of EU Allowances, the European carbon permits.

Until now Europe has agreed only to cut emissions by 20% from 1990 levels. However, the commission believes this is not enough. It argues in a paper to be given to the 27 EU member states on Wednesday that

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