Friday, December 12, 2008

Climate change: EU leaders reach compromise deal


12 December 2008

Climate change: EU leaders reach compromise deal

The EU's 27 members will cut carbon emissions by 20% by 2020.

Environmental groups condemned the agreement as a "failure".

They said the deal allowed around two thirds of the emissions reductions to be "offset" by paying for projects outside Europe rather than making cuts at home.

The manufacturing sector has largely been exempted from the requirement to buy the permits it needs to cover its carbon emissions, while the power sector has also won concessions over having to pay for its carbon allowances.

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