Environmental Capital provides daily news and analysis of the business of the environment. It tracks how growing green concern, particularly over climate change, is roiling established industries and spurring new ones – and how that shift is affecting investors, consumers and the planet.

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Changed Climate: Meltdown Has Europe Backpedaling on Climate Caps

Posted on October 13, 2008

The fallout from the financial crisis might be ready to claim another casualty: Europes ambitious plans to tackle climate change. The crisis, and fears that it will turn into a full-blown recession, is opening European eyes to the costs of environmental legislation. The economic bloc, never good at creating robust growth or new jobs even in good times, is now worried that adding extra cost to business during a downturn will be suicidal.Getting cold feet (AP)Or, as Germanys foreign minister said last week: This crisis changes priorities. And where Europes biggest economies lead, others follow. ...

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