The
European Commission just announced it will cut free allocation of emission
credits to industry with an additional 6% in 2013 - adding up to a startling
18% extra cut by 2020. The decision is very harsh as even the most carbon
efficient companies in Europe will not receive the credits they need to
operate.
It
is time to make a reality check on all recent and misleading statements implying
that EU ETS does not impact European industry.
The
idea was simple. Industries receive free allocation of credits based on a
benchmark. Only the 5% best installations receive what they need, all others
have to buy carbon credits.
