EU agrees to another cut in greenhouse gas emissions
The European Union has agreed to tighten already aggressive emission caps, as of 2013. As the world slowly works to build a consensus on a replacement to the Kyoto Protocol, the EU is taking the lead by announcing increased caps on energy and manufacturing industries.
The annual CO2 allowances in the EU will be reduced by 11% from 2008-2012 levels on average between 2013 and 2020. The EU also endorsed adding the aluminum and chemical industries to the existing cap-and-trade system. Additionally, fewer free allowances will be available to polluters starting 2013.
The increased caps aim to help the EU meet its goal of reducing greenhouse gas emissions by 20% from 1990 levels by 2020.
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