British Energy Secretary Ed Davey said Monday the European Union can lead the fight against climate change, but only if certain reforms are enacted. “Europe has the opportunity to show the world how we can cut emissions while creating investment, jobs and growth, but only if we reform the system and reform it fast,” he said in a statement. “Otherwise we’re facing increasing costs for businesses, uncertainty for investment and ultimately higher costs for consumers, which isn’t acceptable.” Davey said his government was proposing a way to make an emissions trading system work better in the European economy. As it stands, with a skewed trading balance, the system is increasing the overall costs of meeting future carbon reduction obligations , he said. His comments followed criticism from European Commission President Jose Manuel Barroso […]