10 SEP 2010
The European Commission's climate department yesterday (9 September) announced it had identified some 50 product benchmarks for allocating free CO2 emission permits to industry amounting to around €100 billion until 2020.
The draft benchmarking decision sets the rules for allocating free emissions allowances to EU companies for the 2013-2020 trading period under the EU emissions trading scheme (EU ETS).
Benchmarking was part of the revision of the EU's flagship instrument for cutting greenhouse gas emissions, which sought to avoid the pitfalls of over-allocation and windfall profits for companies that have plagued the scheme in the past.
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