EU firms welcome CO2 cuts freeze

THE cost of cutting greenhouse gas emissions has dropped dramatically and Europe is in danger of losing its lead in taking advantage of the green economy, according to an analysis from the European Commission.

But following pressure from business and member states, the commission is not recommending the European Union increase its CO2 reduction target to 30% over the next decade.

The study acknowledges that the currently agreed 20% cut will not be enough to meet what the scientists say is essential to ensure temperatures do not rise by more than 2C and irrevocably change the Earth’s environment.