Austria to Pay for Failing Kyoto

People ♦ Published: November 28, 2011; 16:43 ♦ (Vindobona)

By 2014, Austria will have to pay penalties because of the missed Kyoto targets. Payments could amount up to € 1.0bn.

Austria to Pay for Failing Kyoto / Picture: ©

According to the Minister of Environment, Niki Berlakovich (ÖVP), penalties for missing the climate protection program will amount to € 600m. The opposition parties expect that these payments could rise to € 1.0bn. The first payments will have to be effected by 2014, Berlakovich says.

These funds will be provided by the domestic industry as well as energy suppliers. The…