Chemicals sector opposes CO2 auction

European Union plans to make companies buy CO2 emission rights are a danger to the Dutch chemicals industry, the chairman of the sector’s umbrella group VNCI said on Tuesday.

The buying of rights via the auction system will cost the industry some €500m a year, Jan Zuidam told news agency ANP. While supporting efforts to reduce emissions, an auction is ‘the wrong mechanism for this industry’, Zuidam said.

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