| Sourced From Triplepundit.com |
The EU, that bastion of environmental common sense, is giving away its carbon credits. For free. To some of their biggest polluters.
Reuters reports that European Union lawmakers have approved a list of heavy industries, including metals, textiles, building materials and ceramics, that will be handed free carbon credits starting in 2013, rather than have to pay for them like everyone else. The credits will be handed out under the EUs Emissions Trading Scheme, or ETS.
The lawmakers acceded to industry complaints that the cost of carbon credits would make them uncompetitive with companies operating in India, China and other nations with fewer environmental safeguards, forcing them to move operations out of the EU. The end result, industry argues, would be the same companies making the same products for the same consumers, only in a more polluting way overseas, a phenomenon known as
Related posts:
