EU Agrees to Help China Cut CO2 Emissions

Created: 2012-09-20 13:36 EST

Category: Business
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Today at the EU-China summit in Brussels, Chinese Premier Wen Jiabao met with European leaders to discuss trade relations.
 
On the agenda was an agreement on CO2 Emissions Trading Schemes (ETS). The EU was eager to work with the world’s largest emitter of CO2 and find ways to cut China’s carbon footprint.
 
China has not complied with the EU’s new carbon tax that affects airlines using all EU airports. The tax was estimated to cut CO2 emissions by 20% and raise money for green development. So far, China, India, Russian and the US have protested the airline tax and both India and China refused to provide their carbon emission data for their airlines.
 
Despite their sticking points, the EU has agreed to invest millions in carbon reduction projects and has said it will provide its technical assistance to China over a four-year period.