EU has been advised by experts to sought ways to increase energy efficiency if it wants to decrease pollution levels and fight greenhouse effect.
EU should concentrate on increasing energy efficiency instead of promoting renewable energy if it wishes to maintain its industrial base and handle climate change, as commented by a major EU business confederation in news published by EUobserver.
The European Commission is framing a draft legislation to be introduced in January 2008 on the anticipation that it will improve the Emission Trading Scheme (ETS), Europe's foremost tool to fight climate changes.
The ETS caps the amount of CO2, the major culprit for global warming, that factories produce. Companies sell or buy permits depending upon whether they go beyond or are lower to their targets. In other changes, the Commission is analyzing any chance of entailing firms related to the scheme to purchase a greater share of the permits at the trading period’s beginning.
Currently, governments fundamentally give them out for no cost at all. This procedure has resulted in "windfall profits", particularly in the power sector, which EU regulators wish to harness. But a need for auctioning for all sectors across-the-board would be detrimental and may cost a few companies as much loss as what they earn annually.
However, as per EU, in case there is any success in EU’s plans of reducing CO2 gas emission in future as compared to the European residential sector only, CO2 emissions can come down by 9%, or 60 Million Tons, by 2020 through more efficient use, as per BusinessEurope.
As per BusinessEurope, if other countries adopted the European efficiency example, the world could have achieved energy and CO2 reduction by up to 25% by 2020.
As per a Senior Research Analyst at RNCOS, “The increasing industrialization and the growing number of vehicles hitting the road can bring about a huge smile on the faces of industrialists and auto manufacturers but cannot bring about happiness to environmentalists. The increasing amount of pollution because of unrestrained machinery usage has taken us to the verge of global warming. However, by using newer fuel alternatives like biologically generated fuel (such as biofuel, ethanol or biodiesel), people can fight against green house effect. In addition to this, auto manufactures should device ways of manufacturing vehicles that use electricity or CNG that emit lower pollutants as compared to oil and gas.”
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