Europeans are paying to reduce greenhouse gas emissions in China as part of the continent's efforts to tackle global warming. Power generators and other polluting firms are buying "carbon credits" from countries such as China to offset their own emissions. But where the Chinese gain by cleaning up their factories and selling the resulting credits, European consumers lose as the costs are often passed on in the form of higher energy bills. Last year alone, European companies spent around $2.5bn (£1.25bn) on carbon credits from China. Although action to tackle global warming is generally welcomed, consumer groups worry that poor people are finding it increasingly difficult to pay this energy "tax".
Europeans are paying to reduce greenhouse gas emissions in China as part of the continent's efforts to tackle global warming.
Power generators and other polluting firms are buying "carbon credits" from countries such as China to offset their own emissions.
But where the Chinese gain by cleaning up their factories and selling the resulting credits, European consumers lose as the costs are often passed on in the form of higher energy bills.
Last year alone, European companies spent around $2.5bn (£1.25bn) on carbon credits from China.
Although action to tackle global warming is generally welcomed, consumer groups worry that poor people are finding it increasingly difficult to pay this energy "tax".
where the Chinese gain by cleaning up their factories and selling the resulting credits, European consumers lose as the costs are often passed on in the form of higher energy bills.
Because the reduction in carbon emissions and atmosphere pollution is not a gain. Why do we even bother caring about pollution and carbon emissions? It's just a "cost" with no gain. As long as that mindset keeps on prevailing in themedia, we're far from solving this... In the long run, we're all dead. John Maynard Keynes
I don't think anything will happen till a major ice sheet collapses or significant rivers dry up for lack of glacial melt. keep to the Fen Causeway
Why is that? Let me guess. Because the political system selects for people whose comparative advantage is willing elections, not understanding things. Can the last politician to go out the revolving door please turn the lights off?
