EU Backs Extra Free CO2 Permits for Industries
European Union nations approved a plan to provide heavy industries with an additional 121 million free carbon permits. The move could save chemical and metal producers billions in costs.
European Union member states backed a proposal on Wednesday afternoon to issue an extra 121 million free CO2 permits to heavy industries through 2030. The adjustment aims to protect struggling domestic manufacturers from foreign competitors. The allocation will save heavy industries €8.25 billion ($9.52 billion) in carbon costs over the period.
