The European Union, it seems, is bent on saving the world. On Jan. 23, the European Commission (EC) announced an ambitious, detailed plan to fight climate change and promote renewable energy to achieve the goals its leaders formulated at the March 2007 European Council.
Those goals include a 20 percent reduction in greenhouse gas emissions, a doubling to 20 percent of energy produced from renewable sources like wind and solar power, a 20 percent increase in energy efficiency and a 10 percent biofuel component in transportation fuel--all by 2020.
Finally, large companies fear the heavy burden imposed on the richer countries will limit their ability to grow in these nations.
"Larger companies are starting to think they should get out of Europe to countries where such limitations do not exist," says Dominique Grisay, a partner at Exelia in Brussels.