Straits Times – EU nations on Monday reached a compromise agreement on new rules to cut CO2 emissions from new cars from 2012, with penalties for automakers who fail to comply, a negotiator said.

The deal, part of wider EU efforts to tackle global warming, was reached during talks between representatives of the 27 EU nations, the European parliament and the European Commission, following months of detailed and sometimes heated negotiations.

‘It isn’t the commission’s initial proposal, but there is some compensation thanks to a (new) long-term objective’ on cutting emissions and ‘with very strong penalties’ for non-compliance, the source said.

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