A draft by European Parliament rapporteur Peter Liese, due Friday, would smooth
ETS reductions over the next decade, cutting the emissions cap by 3.4% annually
in the early 2030s versus the European Commission's 3.7% proposal, and applying
a 2.3% linear reduction factor in the later period compared with the
Commission's 1.7% target for 2036. The adjustment would ease near-term pressure
on weak European industry; high-emission producers such as chemicals warn that
higher decarbonisation costs weaken EU competitiveness with the US and could
prompt plant closures.
