Business
EU Industry Warns Against 30 Percent Emissions Cut
The economic crisis might well have made it cheaper for European industry to deepen cuts to climate-warming emissions, but it has also left companies too weak to face the challenge, industry groups said on Friday.
Environmentalists accused industry of lying about the cost, saying many sectors had reaped huge windfall profits from Europe’s efforts to clamp down on carbon emissions through its carbon market, the EU Emissions Trading Scheme (ETS).
Europe’s climate commissioner, Connie Hedegaard, looks set to announce in coming weeks that extending cuts in carbon dioxide levels to 30 per cent below 1990 quantities would be about a third cheaper than before the crisis.
The current plan is a 20 per cent cut by 2020.
“The additional total costs for the EU to step up from 20 per cent to 30 per cent are estimated to be around 33 billion euros ($44.3 billion) in 2020, or 0.2 per cent of GDP,” said a draft of Hedegaard’s impact assessment seen by Reuters.
One reason the costs would be lower is a decline in the price of buying ETS permits to emit carbon dioxide. Industry bodies for steel, refining, glass, paper, cement, ceramics and chemicals said the burden of heavier carbon caps would still increase their disadvantage versus competitors in less regulated regions.
“Currently ‘low’ market prices of carbon reflect the collapse in consumer demand, the slowdown of economic activity of manufacturing industries and the consequent reduction in emissions,” they said in a joint statement.
“However, EU industries’ exposure to competing economies without carbon constraints has by no means decreased and must not be further increased by additional, unilateral policies.”
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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