Careers Main
Working Parents Blog
Executive Jobs
Compare Salaries
Exec MBA Search
Careers Videos
Archive
Newsletter
Sponsored by:
The European Commission welcomed figures showing that European, Japanese and Korean producers had reduced CO2 emissions from new cars by an average of 12.4 percent from 1995 to 2004.
But it said faster reductions were needed if the industry was to meet
the voluntary targets of a 25 percent cut by 2008 for the Europeans and
2009 for the Asian manufacturers.
Cuts in vehicle emissions are a key part of the EU's strategy for cutting so-called greenhouse gases under the Kyoto Protocol on global warming.
To meet its targets, the industry will need to introduce cuts of more than 3 percent a year from now on, the European Commission said.
Verheugen's spokesman said the European Commission would impose mandatory cuts on companies if they don't make more progress under the voluntary code.
"The European Commission will not hesitate to replace the carrot with the stick," spokesman Gregor Kreuzhuber told reporters. "The car industry should be aware that we are watching the situation very closely."
The EU's concerns were compounded by data that shows that although the emissions per car, per kilometer have fallen, the overall level of CO2 emissions from road transport is up by 22 percent since 1990 due to an increase in the number of cars and the distances driven.
The European Automobile Manufacturers Association stressed the industry's success in cutting emissions through the voluntary agreement.
"The commitment is successful in ensuring that CO2 emissions are reduced steadily in a relatively short period of time," Secretary General Ivan Hodac said in a statement.
He said the industry group would work with the EU in developing further ideas for reducing pollution and suggested that could include linking the taxation of vehicles and fuels more closely to CO2 emissions.
The association comprises 13 leading vehicle manufacturers including DaimlerChrysler AG, Volkswagen AG and Renault SA. The European units of Ford Motor Co. and General Motors Corp. are also members of the association and have therefore signed up to the voluntary agreement. If legislation were introduced, it would likely apply to all vehicles sold in the EU.
