The European Commission unveiled a broad strategy to cut carbon dioxide (CO2) emissions from cars on Wednesday, proposing binding limits that automakers say will threaten jobs and lead to big price increases for consumers, according to Reuters. The European Union executive, a world leader in fighting climate change, is targeting car companies to help meet goals to reduce greenhouse gas emissions under the Kyoto Protocol. "We will shortly be in a position not only to provide the safest and best cars but also the cleanest," Industry Commissioner Guenter Verheugen told reporters. "This will mean that we will be leading the field for a very long time. No one else in the world comes anywhere close." The Commission said it would propose legislation by mid-2008 to force carmakers to reduce carbon dioxide (CO2) emissions from new cars to an average of 130 grams per kilometre (g/km) across the fleet by 2012 through improved engine technology. That would contribute to an overall target of 120 g/km by 2012 compared to current levels of roughly 163 g/km. Use of biofuels, efficient air conditioners, and gear shift indicators would help contribute the 10 g/km that does not come from cleaner engines. Environmentalists criticised the Commission for not putting the full burden on car companies to make the cut to 120 g/km. The European auto manufacturers' lobby said the new targets were arbitrary, too severe, and damaging to the economy. Environment Commissioner Stavros Dimas said the rules were essential to meet the bloc's Kyoto commitments to cut greenhouse gas emissions by 8 percent by 2012 from 1990 levels. Road transport contributes roughly one-fifth of the EU's CO2 emissions. Passenger cars account for 12 percent.