EU to prevent carbon leakage

BRUSSELS, Nov. 5 (UPI) -- The European Parliament announced industries considering leaving the region to escape carbon-trading rules could get allowances to encourage them to stay.

Europe announced a list of industry sectors and subsectors that were looking to escape CO2 emission trading rules could get up to 100 percent of the emission allowance for free if they stayed in the region.

The EU Environment Committee announced the list under a revised Emission Trading System from 2013 to prevent so-called carbon leakage.

Europe said that the sectors under consideration could get the concessions until 2020 until an international agreement on cap and trade is concluded.

The list includes sectors and subsectors ranging from plastics, chemical and steel industries.

The Emission Trading System for the European Union is a tool aimed to reduce greenhouse gas emissions by at least 20 percent from 1990 levels by 2020.