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Cement makers to receive free carbon permits

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World Cement,

Reuters are reporting according to the European Commission, European nations have handed out a combined 535 million free European Union carbon permits to industry to cover 2016 emissions.

The allocation of EU Allowances (EUAs) will add more supply to a market already complete with permits and could put more pressure on carbon prices, which are now stood at below €5 per t.

Germany and France handed out the most permits, at 129.6 million and 73.2 million respectively, while five countries including Spain and Italy have yet to distribute any of the free permits.

Industrial firms regulated by the scheme, such as cement makers, will get a total of around 6.6 billion free allowances between 2013 and 2020 to help them compete with rivals in other countries that have less strict environmental rules.

Edited from source by Joseph Green. Source: Reuters

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