Vestas Chief Calls for European Carbon Tax to Spur Renewables
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Vestas Wind Systems A/S Chief Executive Officer Ditlev Engel said the European Union should impose a tax on carbon emissions to spur renewable energy and lower greenhouse gases.
Carbon trading isn’t stimulating the spending on renewable energy needed to cut emissions quickly, Engel said today in a debate on the future of the European Emissions Trading System in Copenhagen. He cited Nobel Prize-winning economist Joseph Stiglitz to justify his call for a tax, which Danish Environment Minister Martin Lidegaard immediately said won’t be possible.