Germany to Cut Free EU Carbon Permits by 56% Starting Next Year
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Germany, which plans to sell more European Union carbon allowances starting next year, will give 56 percent fewer away, according to figures from the federal environment agency Umweltbundesamt.
The nation will hand out about 1.4 billion metric tons of the permits to 1,814 factories, including plants operated by Volkswagen AG and BASF SE, in the eight years through 2020, according to the data published today. That’s 175 million tons a year on average and compares with 401 million tons of free allowances granted last year, according to data compiled by Bloomberg.