Chemical industry's spending on environment way below forecasts

Dire warnings sounded by the chemical industry over the past two years about spiralling costs of environmental protection have been deflated once again by the Chemical Industries Association's latest survey of investment plans among its member companies. The results show that their capital spending on environmental protection has been running far below the levels forecast in 1991, while the estimated cost of complying with tighter environmental laws is now only about half that projected two years ago.

The CIA carries out an investment intentions survey every year. This year's survey, based on responses from 65 firms representing about 69% of the industry's total capital expenditure in 1992, shows that capital investment by chemical companies is expected to drop by 10% to about £2 billion in 1993 before recovering to £2.4 billion in 1994. The investment cut this year is the biggest among the chemical industries of seven EC countr

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