EU slashes emission caps on utilities, factories
19 Dec 2008
The European Union approved tighter emission caps on energy and manufacturing companies as of 2013, bolstering the world’s biggest greenhouse-gas market in a bid to spur the US and China to help to fight climate change.
The European Parliament voted to reduce annual carbon dioxide allowances for electricity, steel, paper and other industries now in the EU emissions-trading system by 11 per cent on average in 2013-2020 from 2008-2012.
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