The European Commission has prepared preliminary benchmarks designed to assign a dwindling supply of free emission permits to industries including oil refining and metals manufacturing.
The commission, the EU regulator, has said its benchmarks will start in 2013 and reward the most-efficient European emitters. The draft from the climate division sets the stage for the end of an era when participants in the European trading system, the world’s largest carbon market, get most of their allowances for free.
