Emission Trading Update: VCI Critisizes Advance to Cut Emission Certficates

The German industry association VCI has critisised the new advance to cut the EU's carbon dioxide emissions until 2050 by up to 95 percent. Goals like that could, VCI executive Tillmann says, only be achieved in cooperation with the industry.

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VCI-excecutive Dr. Utz Tillmann critisied the advance of the European Parliament to cut the number of available emission certificates. (Picture: VCI)
VCI-excecutive Dr. Utz Tillmann critisied the advance of the European Parliament to cut the number of available emission certificates. (Picture: VCI)

Frankfurt a. M./Germany - The decision of the European parliament to advance a "Roadmap for Moving to a Low–Carbon Economy in 2050" yesterday, has unsurprisingly drawn heavy flak from industry representatives. The German association VCI (Verband der Chemischen Industrie) critisised the decision as a step towards command economy, as VCI executive Dr. Utz Tillmann said.

“The vision of a low carbon society can only be realised with the help of research and innovative products from the industry," Tillmann stated. "This planned policy withdraws needed the capital from the economy.”

Emission Trading Plans “Stress Industry Above Average”

Yesterday, the EU's parliament issued its "Roadmap for Moving to a Low–Carbon Economy in 2050", a series of policies that shall help to cut the Union's carbon dioxide emissions by up to 95 percent until 2050. This roadmap is accompanied by an attempt to reduce the number of emission certificates on the market to increase the pressure on the industry to cut emissions.

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