Leaked documents show Britain is trying to weaken European proposals to reduce carbon emissions by 20 percent by 2020. The documents show that Britain wants to allow half of the targeted carbon savings to be achieved through imported credits, which are acquired by investing in clean projects in the developing world, the Guardian reports.
The original proposal limits imported credits at about a quarter of the targeted carbon reductions.
Campaigners say carbon credits are no substitute for direct reductions. According to a U.S. report, between a third and two thirds of UN’s clean development mechanism credits did not reflect actual carbon savings.
A separate briefing note sent to MEPs earlier in September confirms the UK position.
It is clear that many industries are not pleased with EU’s CO2 plan. Energy user’s group VIK recently said the plan would bring sky-high carbon taxes and threaten the industry’s competitiveness and jobs.
Similarly, a paper by the Business Council of Australia also warned that Australia’s Carbon Plan could strangle companies.