facebook
twitter
rss
account
search
search
 

Embrace low-carbon economy now, EU says

March 9, 2011 at 9:00 AM   |   Comments

| License Photo
BRUSSELS, March 9 (UPI) -- The transition to a low-carbon economy in the European Union needs to start now because energy costs aren't going down, Europe's climate commissioner said.

The European Commission adopted a plan to develop a low-carbon economy in the region. The plans outlines some of the ways the European Union can cut greenhouse gas emissions by more than 80 percent of the 1990 levels by 2050.

European Commissioner for Climate Action Connie Hedegaard said the low-carbon transition needs to start immediately in order to make any progress.

"We need to start the transition toward a competitive low-carbon economy now," she said in a statement. "The longer we wait, the higher the cost will be."

She said the best way to develop a low-carbon economy is to fund internal measures that exist in the agriculture, construction and transport sectors.

The EU will need to invest about 1.5 percent of its gross domestic product -- about $375 billion -- during the next 40 years on top of the 19 percent of GDP already invested to build a low-carbon economy.

"As oil prices keep rising, Europe is paying more every year for its energy bill and becoming more vulnerable to price shocks," Hedegaard said. "So starting the transition now will pay off."

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Continental Resources declares win in Oklahoma basin Continental Resources declares win in Oklahoma basin
2
Maker of Camel cigarettes bans smoking in workplace Maker of Camel cigarettes bans smoking in workplace
3
U.S. oil exports at highest level since 1957 U.S. oil exports at highest level since 1957
4
More U.S. funding targets solar energy research More U.S. funding targets solar energy research
5
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
Trending News
Around the Web
x
Feedback