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

Feb. 25 (Bloomberg) -- 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.

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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