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Will EU drop climate pledge?

— Photo: AFP

Grim scene: Greenpeace activists paint “Quit Coal’ onto the side of a coal cargo ship, off the coast of Spanish town of Gijon on October 6. They were protesting against the Spanish government for causing climate change by relying so heavily on coal for energy supply.

London: EU heads of state plan to use the global financial crisis as an excuse to renege on climate change commitments, say sources close to energy talks in Brussels.

Papers seen by us suggest the EU council, which meets next week, wants to drop the previous pledge of an automatic increase in emissions cuts if the world decides on a big climate change deal next year. It also intends to allow countries to avoid having to cut their own emissions by letting them purchase a large proportion of reductions from overseas.

The EU has a target of 20 per cent emissions cut by 2020. This would rise to 30 per cent if a global deal is signed. But the papers show the EU is seeking a new legislative process if the EU target rises above 20 per cent. This effectively shelves the move to 30 per cent and would take many years to complete.

The commission justifies its proposals by saying EU countries paying for emissions cuts would transfer up to €42 billion to developing and other countries from 2008-2020. It also wants a change in the auctioning of pollution allowances for power firms, which could lead to windfall profits estimated at up to €15 billion.

Environmental groups said on Thursday the moves could allow countries such as Britain to build a new generation of coal power stations without fear of exceeding their legally binding emission targets. — © Guardian Newspapers Limited, 2008

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