The European Commission is under pressure to shelve plans to raise its target for greenhouse gas emission cuts from 20% to 30% amid fears that further uncertainty would be too damaging to fragile world markets. It estimates that the total cost of such a move would be some €81 billion (£70 billion) — just €11 billion more than originally predicted. However, experts are insisting that the EU shelve the plans because of last week’s market turbulence caused by concerns over the euro and Europe’s growing debt crisis. Senior market sources are concerned that further pressure on Europe’s industrial giants to reduce emissions could send markets plummeting.