BRUSSELS - Most industries covered by the European Union’s carbon market would see free credits cut by the highest possible rate over the next five years under draft plans, potentially costing some of the biggest polluters millions of euros.
These credits are trading near record highs as speculators have bought into the idea that tougher EU climate targets will boost demand, while analysts predict further rises. Of 52 industrial products deemed to be at risk of “carbon leakage”, 43 will face the maximum possible reduction in the benchmark which determines their free credits over the next five years, a European Commission draft seen by Reuters shows.
Other sectors would face smaller curbs. Free credits for primary aluminium and hot metal used in steelmaking would be cut by 3% over 2021-2025, the minimum possible reduction rate.
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Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »