Jan 23, 2008, 16:06 GMT
Davos, Switzerland - The head of the United Nations' Intergovernmental Panel on Climate Change (IPCC) on Wednesday described the latest measures by the European Commission to cut greenhouse gases as 'not up to expectations.'
Rajendra Pachauri said: 'My view is that as far as the EU is concerned, this is business that is as yet unfinished,' Rajendra Pachauri said during a press conference at the World Economic Forum's annual meeting in Davos in eastern Switzerland.
He was commenting after the commission agreed a package of measures aimed at cutting greenhouse gas emissions. Under pressure from industrial groups it agreed to grant some of the European Union's heaviest polluters free permits for their emissions amid fears stringent restrictions would drive companies away from Europe.
'What may seem acceptable at this point in time may not seem acceptable three or four years from now. I see no reason why these targets may not become stronger, may not become more stringent over a period of time,' he added saying he saw the commission's move as a 'work in progress.'
The IPCC shared the Nobel Peace Prize for 2007 with Al Gore, the former US vice president.
Pachauri told the gathering in Davos that climate change was going to be present for a long time and urged business and industry to invest in research and development to come up technologies and processes to minimize the emissions of greenhouse gases blamed for global warming.
'If the world is moving towards a low carbon future then those companies that are going to be ahead of the others at arriving at low-carbon solutions will really benefit most,' he added.
He said industry needed to focus on what needs to be done not only to adapt to climate change but also to mitigate its effects.
Your Talkback on this Story