Exact(20)
"We don't underestimate the challenge the new voluntary target presents for many FTSE companies.
European carmakers had previously been asked to meet a voluntary target of 140 grams by 2008.
The approach of setting a voluntary target rather than implementing a legislative quota has made an impact.
At the Copenhagen climate summit in 2009, Brazil showcased a significant voluntary target that delivered real CO2 reductions from controlling deforestation.
German car firms are particularly vulnerable, which was why they made the most fuss about the commission turning the voluntary target into a mandatory one.
Mr. Garofalo said the industry already had built substantial capacity based on an earlier, voluntary target of 5.75percentt biofuels by 2010, and he accused legislators of showing bad faith by calling for even weaker targets.
Similar(40)
Whether companies can meet the voluntary targets they created is far from certain.
Some have set voluntary targets for reductions and are claiming substantial progress in meeting them.
Will traders pay any attention to these worthy but voluntary targets set by risk officers?
The idea was to encourage foreign governments to follow our lead and declare their own voluntary targets.
Poor countries want legal certainty that the rich will do as they promise, but rich countries only want voluntary targets.
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