Molly Scott Cato, Green MEP for South West England, has accused energy bosses of undermining pro-climate energy policies introduced by the European Union. Working through lobby group Energy UK, leaders in the industry are attempting to water down agreed policies on climate change that Greens say are needed to protect the future of the planet [1].
The recently elected MEP and green economist points to the so-called 'carbon bubble' - an over-valuation of fossil fuel reserves, which she says the fossil fuel industry is keen to keep inflated to protect their assets and wealth [2]. Dr Scott Cato said:
"It is deeply depressing to discover that the economic elites are still prioritising short-term financial gain over the health of the people of the world and our ecosystems. Dealing with climate change has quite literally reached the stage of an end-game and we simply cannot allow fossil fuel energy bosses to direct climate policy."
Dr Scott Cato also blames a string of government measures which ‘strengthen the arm’ of the fossil fuel industry while undermining the renewable industry’s confidence to invest. These include a recent carbon tax freeze, plans to scrap onshore wind subsidies, a proposed cap on solar power projects and incentives to encourage shale gas extraction or fracking [3].
Molly Scott Cato concluded
"While scientists are arguing the need to expand our renewable energy generation the self interests of fossil fuel elites and dinosaur politicians are holding us back. This is all the more tragic for the South West which has considerable expertise and enormous potential in renewable energy technologies.
"We could be looking at thousands of new jobs producing clean, safe electricity while helping to solve the urgent problem of climate change. Energy for the common good, not profits for the few – that’s the Green approach."
Greens in Europe are calling for mandatory renewable energy targets to create clear incentives for investment in clean energy. The Green Group in the European Parliament is also focused on climate talks to be held in Paris next year, where it will be negotiating for lower carbon limits.
[1] http://www.energy-uk.org.uk/press-releases/energy-on-the-european-agenda.html
[2] http://www.theguardian.com/environment/2013/apr/19/carbon-bubble-financial-crash-crisis
[3] http://www.telegraph.co.uk/finance/newsbysector/energy/10868250/Britains-uncertain-renewables-policy-puts-off-investors.html?