EU Ministers Urge Caution on Cost of Climate Plan

The European Union’s move to a low-carbon economy to fight climate change must not harm its competitiveness, the bloc’s finance ministers said on Tuesday.

The executive European Commission last month proposed an ambitious package of measures to help the 27-nation bloc cut greenhouse gas emissions blamed for global warming, partly by using more green energy sources.
“The Council supports the leading role of the EU when it comes to energy and climate change. However we have to make sure this transfer to a low carbon economy will be carried out in a sustainable manner so economic growth is sustainable and public finances do not suffer too much,” Andrej Bajuk, finance minister of EU president Slovenia, told a news conference.

Finance ministers discussed the economic impact and cost of the energy and climate change strategy at their monthly meeting, including such issues as subsidising renewable sources such as wind, wave and solar power, and biofuels made from plants.

“We need to take into account all costs incumbent from the climate energy package proposals. We are talking of very expensive programmes which we believe should be kept within the framework of market forces and efficiency,” Bajuk said.

Planet Ark