EU’s new climate-change targets will drive industry towards US and China

The European Commission is doubling its targets to reduce carbon dioxide emissions by 2030 (photo: dpa)
The European Commission is doubling its targets to reduce carbon dioxide emissions by 2030 (photo: dpa)

The European Commission is doubling its targets to reduce carbon dioxide emissions by 2030 in a new energy strategy released in January 2014. But climate change policies alone will not work. They will drive Europe’s energy-intensive and manufacturing industry out of Europe to the US and emerging markets where lower environmental and climate protection policies will increase greenhouse gas emissions globally.

<i>The European Commissions’ new energy strategy and headline targets for reducing carbon dioxide emissions by 40 per cent by 2030, and adopting a binding 27 per cent share of renewables in energy consumption, can be seen as a step in the right direction. The EU’s common ene...

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