Carmakers may face billions in CO2 penalties
Posted on 17 December 2007 | 0 Comments
Tags:
Hybrid News,
Environment,
Biofuels
FRANKFURT, Dec 12 (Reuters) - European carmakers could be fined billions of euros in penalties a year for failing to meet EU pollution limits, German newspapers reported, citing draft proposals by the European Commission.
Brussels may charge 95 euros per gram and per car for excess carbon dioxide (CO2) emissions, the Frankfurter Allgemeine Zeitung (FAZ) and Financial Times Deutschland (FTD) said in summaries of articles to be published on Thursday.
The FAZ said the level was seen as very likely in Brussels where the European Union executive is due to adopt regulations on Dec. 19 on how to enforce an average limit of 120 grams of CO2 per km by 2012 -- part of the bloc's ambitious strategy to combat climate change.
The decision will affect Europe's biggest carmakers such as Volkswagen, Daimler, BMW, Renault, PSA Peugeot Citroen and Fiat.
Read the whole Reuters story.