INFLICTING eco-taxes may not be the right
way to curb pollution, the European
Commission has declared. In its policy
paper on trade and environment
released in the last week of February, it
says that "Economic performance and
environmental performance are not
incompatible". More in favour of ecodeals, it believes that trading partners
should be in favour of multilateral environmental agreements which should be
operated under a set of globally agreed
framework of rules.
The Commission believes that countries should determine the best
environmental protection they deem fit
and incorporate the same which will
improve resource efficiency, competitiveness and employment. While it is
vital to protect the environment,
eco-taxes may not be the right
answer. At the same time, the paper
adds that policy-makers have to
ensure that environmental protection
rules cannot be abused for trade
protectionist purposes. The paper
gives credence to the eco-measures in
place currently like voluntary eco-
labelling schemes and , recycling.
Reportedly, the environmental industry
is worth nearly us $250 billion a year
and has a growth rate of nearly eight
per cent a year.
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