30 October 2008 14:36 [Source: ICIS news]
LONDON (ICIS news)--The EU’s plans to introduce buying of emissions rights under the EU emissions trading scheme (ETS) after 2012 could seriously harm the competitiveness of the European chemicals industry, BASF's CEO said on Thursday.
“I would like to see an end to the systematic attempts to de-industrialise ?xml:namespace>
He said the months ahead were likely to bring many extraordinary challenges to the company’s business and hardly any positive impulses.
In addition to volatile raw material costs, Hambrecht said he saw risks in a further economic downswing.
“What we can all do without are additional burdens that will weaken our position in the global competition,” he said.
“I am therefore extremely worried about the EU’s current plans regarding emissions trading,” Hambrecht added.
He said that if implemented, they would result in higher additional costs, even for companies such as BASF that use the best possible technology globally in terms of climate protection.
“We therefore call on politicians to ensure predominantly free allocation of emission rights instead of unilaterally worsening the competitiveness of energy intensive sectors of manufacturing such as the chemicals industry,” said Hambrecht.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections