U.K. Sets Ambitious CO2 Reduction Goals
The British government yesterday announced a plan to not only meet but beat Kyoto Protocol requirements for reducing greenhouse gas emissions. The nation will aim to cut its carbon dioxide emissions 20 percent by 2010 through a combination of regulations and pollution credit trading systems. Industry groups in the U.K. are in a bit of a tizzy about the plan, claiming it could raise electricity prices by 80 percent and seriously damage the competitiveness of British manufacturing. Independent analysts concede that the plan will hurt some manufacturing sectors, but claim it will offer a boost to low-carbon generators relying on nuclear, hydropower, and renewables. By the end of March, all European Union countries must submit a plan to Brussels to meet Kyoto standards.