Steel Industry to Sue EU Over Post-2012 Carbon Permits Plan
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The association of European steel producers Eurofer said it will sue the European Union over the design of a method to allocate free carbon-dioxide permits in the 27-nation bloc’s emissions trading system after 2012.
The carbon-efficiency benchmarks for distributing a dwindling supply of free allowances to the steel industry in the next phase of the EU emissions program infringe the law and will result in additional costs to producers of around 5 billion euros ($7.1 billion), according to Eurofer, whose members include the world’s largest steelmaker ArcelorMittal and Germany’s largest steel producer ThyssenKrupp AG.