EU Parliament's Environment Committee Vote Threatens Europe's Aluminium Industry
BRUSSELS, October 7 /PRNewswire/ -- A key part of the EU's climate change policy - the Emission Trading System (ETS) - could destroy the economic viability of Europe's aluminium industry. The European Parliament's Environment Committee recognised the impact of CO2 costs passed into electricity prices (indirect effects) as one of the criteria for carbon leakage, as it has a large negative effect on the competitiveness of energy intensive industries. Therefore, it is inexplicable that the Committee failed to adopt provisions for a legal mechanism to address this problem.
According to Patrick…