Steel firms urge sector-specific climate deal

International trade body says EU carbon trading scheme harms most efficient plants, calls for global framework for industry

Steel producers should be exempt from carbon trading schemes and instead be allowed to make emission cuts in a global agreement specific to their sector, the industry's international trade body said on Tuesday.

At its annual meeting in Berlin the International iron and steel institute (IISI) said it would implement a carbon emission monitoring and reporting scheme covering all major steel producing countries as a first step to implementing a global sector-specific climate policy.

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