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EU May Cut Emissions by 25% as of 2020, Put Permits in Reserve

The European Union may cut carbon emissions 25 percent by 2020 and withhold permits in the next phase of its cap-and-trade program to curb excess supply and promote new technologies.

The European Commission, the EU regulator, stopped short in a draft policy paper of proposing a binding 2020 target for cutting carbon dioxide more than the current goal of 20 percent below 1990 levels. Still, it said the 27-nation bloc may exceed 20 percent as long as it saves more energy, curbs emissions from transport and invests in low-carbon infrastructure.