The European Union should change the way it hands out free pollution permits in the bloc's carbon market, which is failing to bring about deep cuts in emissions, EU auditors said.
BRUSSELS - The European Union should change the way it hands out free pollution permits in the bloc’s carbon market, which is failing to bring about deep cuts in emissions, EU auditors said.
Industry and airlines get some permits for free, to avoid “carbon leakage”, which occurs when businesses move out of Europe to avoid carbon costs. “Free allowances at least need to be reduced for certain sectors which are not heavily exposed to carbon leakage.”
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