Brussels mulls €150bn carbon subsidy to industry

The European Commission is considering carbon leakage safeguards that would hand industry free pollution permits worth €150bn after 2020, a leaked document shows

The European Commission is considering carbon leakage safeguards that would hand industry free pollution permits worth €150bn after 2020, a leaked document shows.

EU industry deemed to be at a significant competitive disadvantage due to carbon pricing could receive around 6.3 billion free allowances under the revised emissions trading scheme (ETS) for 2021-30, according to a draft impact assessment.

Speaking after a meeting of EU energy ministers on Monday, climate and energy commissioner Miguel Arias Cañete said that the ETS revision proposal would be ready by early September at the latest if the Commission does not meet the July target announced earlier.

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