Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-24-Speech-3-340"
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"en.20101124.20.3-340"2
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"Mr President, a major environmental scandal is breaking which needs to be addressed at the Cancún conference. Sixty per cent of the CDM rights sold in the ETS are for the destruction of an industrial greenhouse gas, HFC-23, at a cost of 70 times over the real cost, which is being paid for mainly by European electricity users.
To date we have squandered about EUR 1.5 billion and, if this state of affairs continues, we shall squander another 3.5 billion by 2013, compared with the real value of destroying the gas, which is a mere EUR 80 million. This is generating massive unwarranted profits for a few companies worldwide, for no environmental benefit, given that HFC-23 in the atmosphere has increased over recent years.
This is an unacceptable situation which calls the honesty of our environmental policy and the Kyoto mechanism into question. Europe needs to set this problem within the context of COP-16, because a change in international policy on this issue offers a serious opportunity to drastically limit emissions of greenhouse gases straight away at a very low cost and to ask countries such as China, which is currently pumping huge quantities of HFC-23 into the atmosphere, which could be reduced to zero if China used some of the money it makes in taxes on these unwarranted profits, to become involved more actively in efforts to combat climate change.
Wasting over EUR 4 billion of European taxpayers’ money is unacceptable. It is our job in the European Parliament to defend public interests and consumer interests."@en1
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