EU to Soften Emissions Curbs on Companies in Flagship Market (1)

The European Union is set to relax emissions-reduction rules for thousands of companies, recalibrating the world’s most rigorous carbon market under pressure from industry and governments concerned about the region’s sinking competitiveness.

Before a summit of EU leaders next week on strengthening the bloc’s economy, talks are heating up on reforming the Emissions Trading System, a key tool to curb greenhouse gases. Less than three years after tightening the market in a green push, governments are ready to slow the pace of pollution cuts and consider measures that would alleviate industry costs, according to EU policymakers and diplomats with knowledge ...