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Steel Industry Urges Overhaul of EU Carbon-Trading System

The European Union should consider granting more free carbon allowances to most efficient energy-intensive companies and exclude such permits from trading, according to the EU steel industry lobby Eurofer.

The 28-nation bloc must base the allocation of greenhouse-gas quotas to manufacturers on less stringent emissions benchmarks to keep its industry competitive amid widening energy price gaps with the U.S. and Japan, Eurofer Director General Gordon Moffat said. The call from the lobby, whose members include ThyssenKrupp AG and Voestalpine AG, to overhaul Europe’s 53 billion-euro ($74 billion) emissions-trading system comes before EU leaders’ first debate on post-2020 energy and climate policies later this week.