EU Panel Approves Climate Change Bill

Law360, New York (October 7, 2008, 12:00 AM EDT) -- A panel of the European Parliament has given the green light to a sweeping and potentially costly climate change plan despite pressure from industry and business owners to tone down emissions targets in light of the deepening credit crisis in Europe.

In a string of decisions issued Tuesday, the European Parliament's environment committee voted to offer €10 billion ($13.6 billion) in credits to fund carbon capture projects and recommended that penalties of €100 per ton of carbon dioxide reductions be handed to member states that fail...
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