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Corporations to reduce greenhouse gas emissions voluntarily

Brief

July 22, 2002

Major French corporations agreed yesterday to reduce their greenhouse gas emissions voluntarily through a program sponsored by three employer associations (Medef, Afep and Epe) that would, according to the latter, make an energy tax based on pollution levels "unnecessary". Under the program, the corporations-including small and medium businesses and industries-will present quantified goals for reducing the 6 gases targeted by the Kyoto agreement before the end of the first half of 2003. The commitments will be divided into two periods, from 2003-2004 and 2005-2007, as part of a process running through the agreement's end in 2012. Penalties will be levied on the companies at the end of each period if they do not make their goals.