An NGO has hit out at what it sees as exaggerated claims that environmental regulation hurts European firms’ balance sheets and competitiveness.
ChemSec set out a number of examples of industry overestimating the costs of EU environmental laws. The NGO wants to debunk the view that “green tape” is holding back business in Europe.
Environmental policy accounts for a “relatively low” percentage of costs for the oil, textile, power generation and metal sectors. Statistical data indicates that annualised environmental costs in these industries are typically less than two percent of production value, ChemSec said.
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