This translation has been automatically generated and has not been verified for accuracy.The European Commission will confirm in February rules to calculate industries’ free carbon permits over the next five years, it said on Friday, pushing back a plan to finish the regulations this year.
Draft versions of the rules, seen by Reuters, suggest most industries would see free credits cut by the highest possible rate over the next five years, as the EU seeks to curb pollution and meet climate goals. That could cost the biggest polluters millions of euros.The Commission said on Friday it would finalize in February the “benchmarks” to determine industries’ free permits over the 2021-2025 period.
Once that is completed this year, countries will inform the EU how many free permits they intend to give their industries. “The distribution of free allowances in 2021 will take place after this decision is adopted,” the Commission said in a statement.