Comment on Germany and Italy are the biggest climate laggards in Europe, study finds

Germany and Italy are the biggest climate laggards in Europe, study finds

Tractors block a highway during a farmers' protest in northeastern Spain in February.Emilio Morenatti/APThe European Union risks missing its 2030 climate goals, with Germany and Italy lagging behind.The two countries may have to spend €15 billion on carbon credits to comply with a climate law.A carbon credit shortage could lead to a costly bidding war and legal issues for EU nations.The European Union is at risk of missing its ambitious climate goals for 2030, and Germany and Italy are largely to blame.The two countries are so far off track of cutting greenhouse gas emissions in industries like transportation and buildings that they could be forced to spend upwards of $16.1 billion (€15 billion) on carbon credits to comply with an EU law, according to research by T&E, a nonprofit that advocates for cleaner transportation.There's just one problem: Germany and Italy could eat up the majority of credits available across the EU, setting up a costly bidding war by other countries that also miss their climate goals."Germany and Italy are eating up all available carbon credits from their neighbours, leaving them stranded and at risk of legal proceedings," Sofie Defour, climate director at T&E, said in a statement.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News