Think tank warns on cost of cutting carbon
Meeting Kyoto protocol greenhouse gas emission targets will cost the Germany, Italy, Spain and the UK dear in terms of reduced economic growth higher energy prices and lost jobs, Brussels-based think tank the International council for capital formation (ICCF) has claimed. ICCF's American sister organisation ACCF published similar estimates in 2002, sparking a row with then EU environment commissioner Margot Wallström (EED 13/09/02). ICCF now calculates that GDP could be depressed by up to 3% by 2010, whereas the EU's official estimate is 0.06%. See ICCF climate change pages and summary report.
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