19 Dec 2007 04:12:33
EU proposes to fine car-makers missing carbon targets
The European Union has proposed new legislation that will see carmakers who fail to meet carbon emission targets by 2012 face fines.
In a statement, the EU explained that it hoped to cut the average carbon emissions from cars by 19 per cent within the next five years.
As a result, car manufacturers will face penalties of 20 euros (£14.35) for every gram of carbon they are above a target, with the penalties set to grow to 95 euros by 2015.
EU environment commissioner, Stavros Dimas, said: "The aim of the legislation is to reduce CO2 emissions from cars in order to help fight climate change. The legislation will also ensure important fuel savings which will translate into considerable benefits for consumers."
"Moreover, it will encourage the car industry to invest in new technologies and actively promote eco-innovation, which is a driver for more and high-quality jobs," he added.
The EU claims the proposals will offer flexibility for car manufacturers, with companies able to pool together to act together to meet emissions targets.