EU Weighing ‘Confiscation’ of Carbon Permits, Steel Lobby Says

A European Union plan known as the roadmap to set aside carbon permits starting in 2013 and slash emissions through 2050 amounts to “confiscation,” said a steel-industry lobby group.

“The confiscation of allowances from the emissions trading system, as proposed by the roadmap, will have exactly the same effect as a unilateral move” to a 30 percent carbon reduction target by 2020, Eurofer Director General Gordon Moffat said today in an e-mailed statement. “This is unacceptable. We hope member states will not fall into this trap.” The plan will lead to “the deindustrialization of Europe,” the statement said.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Mike Anderson at manderson34@bloomberg.net

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