UK Will Failt In CO2 Targets, Says ibuyeco

The UK will fail to reach its EU targets on CO2 reduction over 2008, despite having ten years to prepare, according to car insurance group ibuyeco which today reported on consistant failings within the industry which could lead to substantial fines and embarrassment for the UK infront of the European Union authorities.

The niche green insurer today revealed that targets set by the European Union back in 2008 for CO2 reductions and production of CO2 friendly vehicles would not be met at current levels, despite the fact that ibuyeco claims it has personally offset some 35,000 tonnes of CO2 over the last six months of 2007.

According to the statement released today by ibuyeco, car manufacturers have openly admitted that they will fail miserably when it comes to meeting the targets set for reducing CO2 emissions, and for producing vehicles that produce less than 140g of CO2 for every kilometer, which will pose problems for the UK in front of the EU authorities.

“With targets not being met by the car manufacturing industry to reduce carbon emissions, there was a huge demand for an insurance product that enabled the public to counteract the damaging effect of everyday use of cars. ibuyeco is a practical step for people to make whilst also giving them a competitive insurance quote,” said Lucy Bailey, Marketing Manager of ibuyeco.

ibuyeco is one of the only insurance firms to fully offset carbon output from its insured vehicles through the duration of its insurance policies. However the findings today reflect that there may be a need for more schemes of its kind if the UK is to reach its predetermined emissions targets.

Charging a slight premium on insurance policies to reflect environmental stress, ibuyeco invests in Carbon-countering projects in consort with The Carbon Neutral Company, which effectively cancels the CO2 output of its insured cars.

Category: Insurance News