End to fertilizer production in Europe?
Independent consultants say that around 50% of the European fertilizer production capacity will close due to the result of exceptionally low benchmarks. Under the Emissions Trading Scheme III, and restrictions on capacity increase, thousands of jobs will be lost and new investments will be cancelled.
The European fertilizer industry is already the most efficient world-wide. We are offering emission reductions of 75%.The European Commission is insisting on more than 90%. We are sorry but this is just not technically possible or economically feasible.
We were assured that no European industry would be forced to move its production out of the EU as a result of emission trading. If the Commission's proposal is not changed by Member States the result will be more greenhouse gases from countries with less stringent climate policy.
Carbon Leakage will become a reality.
Jobs and tax revenues will be lost.
Who takes the responsibility?