EU Governments Backing & Filling As Kyoto Deadline Looms - CSM

[hatrack]

The erratic weather of recent years in Europe, from devastating floods to lengthy heat waves, has convinced many on the Continent that human-induced climate change is no mere theory. Then why are so many European Union leaders getting cold feet about doing something about global warming?

Because despite the change in weather patterns and Europe's green rhetoric, the EU faces a reality check on March 31, the day each member nation must submit a plan for reducing emissions of greenhouse gases.

The projected costs, as well as the likely loss of economic competitiveness with the United States, has the EU wondering if it can virtually go it alone in implementing the Kyoto Protocols on climate change. The protocol has yet to take effect as a binding treaty since the US and Russia won't sign on, and China and India were given a pass for now.

In Germany, the EU's largest emitter of greenhouse gases, the government has been in a crisis over details of its plan. Last week at an EU summit, Chancellor Gerhard Schröder asked the body to slow down implementation but was rebuffed by France. All he won was a request for a cost-benefit study on "environmental and competitiveness considerations" in meeting Kyoto's strict targets.

EDIT

The required plans are only for setting up an official trading system that would allow companies to buy and sell permits to emit greenhouse gases, starting in 2005. Each government would be given emission allowances which could be traded in a market system. A company could either meet a target or else purchase a "credit" from cleaner companies and keep on polluting."

EDIT

http://www.csmonitor.com/2004/0330/p08s03-comv.html